Rajkot is in a transitional period of growing economical activities, and it contributes to the economy of Gujarat with several small and large scale industries with the support of Gujarat Industrial Development Corporation (GIDC) and Gujarat State Financial Corporation (GSFC). The city is famous for its textile market, silk embroidery, jewellery designs and watch parts, and some of the products produced by the industries there include diesel engines, kitchen knives, automotive parts, machine tools, and software development as well.
It is also known for its gold jewellery, and has one of the biggest gold and silver markets in India. Known for its machineries, it is India’s leading producer of oil engines, investment casting, forgings, hardware products, silver ornaments and pharmaceuticals. Additionally, all the infrastructure development projects in the city of Rajkot are adding economic wealth to the country of India as well as it helps promote the local business houses.
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With regards to forging and casting industry sector, the city of Rajkot is prominent throughout worldwide. Over the past few years, the city has gained economic importance through complex supply chains creating automobiles, electric motors, machine tools atc. The companies of Prashant Ferex, Rolex Rings, and Ecjay Industries are just few examples of this. These companies are in high demand due to large investments made by the government and private sectors to the local industries such as highways, power plants, ports, and so on. Over the next few years, more and more companies are expected to merge, consequently booming the economy of the city even more.
In the upcoming years, the city of Rajkot plans to allocate a huge area of land for the development of a 'Special Economic Zone'. This zone is said to be segregated into three different sections. The city of Rajkot is believed to be on its way to becoming one of the largest automobile zones in all of Asia.
Industries in Rajkot
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The city of Rajkot has numerous small scale manufacturing industries that produce items such as cutlery, bearings, diesel engines, intricate watch parts, various automotive parts, etc. This city is also renowned for its jewellery market, silk embroidery and embellishments, and houses CNC auto parts and machine manufacturers such as Jyoti CNC Automation Pvt. Ltd, and Atul Auto Ltd. along with Macpower CNC Machines Pvt. Ltd. In addition to this, there are approximately five hundred foundry units in this city that cater to all the different casting requirements of the automotive diesel engine industry, producing grey iron castings for the domestic and international market. A few of these foundry units are also used to export electric motor castings and automobile castings as well.
The software industry sector is also growing well in Rajkot. There are several SOHO companies here that work in the field of Web Development, in addition to many new software companies and multinational call centers. NCrypted Technologies is one such company who has set up their operations and development centres in this city.
Last, but not least, the city of Rajkot is well known for its textile printing units which attract the attention of tourists from all over. Producing items such as cotton salwar suits and cotton block print and silk sarees, this sector is quite important in Rajkot's economy. Rajkot is also home to a few of India's leading snacks manufacturers such as Gopal Snacks Pvt. Ltd., Balaji Wafers Pvt. Ltd., etc.