page_title: Ahmedabad
section_title: Economy
hierarchical_section_title: Ahmedabad / Economy
caption_attribution_description: English: Description - The Sabarmati Thermal Power Station now Torrent Power Station situated on the banks of River Sabarmati, made famous by Mahatma Gandhi's Ashram by the same name is not only one of the oldest Thermal Plants in the country (1934), but also one of the most well run.
context_page_description: Ahmedabad is the largest city and former capital of the Indian state of Gujarat. It is the administrative headquarters of the Ahmedabad district and the seat of the Gujarat High Court. Ahmedabad's population of 5,633,927 makes it the fifth-most populous city in India, and the encompassing urban agglomeration population estimated at 6,357,693 is the seventh-most populous in India. Ahmedabad is located on the banks of the Sabarmati River, 23 km from the state capital Gandhinagar, which is its twin city.
  Ahmedabad has emerged as an important economic and industrial hub in India. It is the second-largest producer of cotton in India, and its stock exchange is the country's second oldest. Cricket is a popular sport in Ahmedabad. A newly built Sardar Patel Stadium at Motera can accommodate 110,000 spectators. The effects of liberalisation of the Indian economy have energised the city's economy towards tertiary sector activities such as commerce, communication and construction. Ahmedabad's increasing population has resulted in an increase in the construction and housing industries resulting in recent development of skyscrapers.
context_section_description: The gross domestic product of Ahmedabad was estimated at US$64 billion in 2014. The RBI ranked Ahmedabad as the seventh largest deposit centre and seventh largest credit centre nationwide as of June 2012. In the 19th century, the textile and garments industry received strong capital investment. On 30 May 1861 Ranchhodlal Chhotalal founded the first Indian textile mill, the Ahmedabad Spinning and Weaving Company Limited, followed by the establishment of a series of textile mills such as Calico Mills, Bagicha Mills and Arvind Mills. By 1905 there were about 33 textile mills in the city. The textile industry further expanded rapidly during the First World War, and benefited from the influence of Mahatma Gandhi's Swadeshi movement, which promoted the purchase of Indian-made goods. Ahmedabad was known as the "Manchester of the East" for its textile industry. The city is the largest supplier of denim and one of the largest exporters of gemstones and jewellery in India. The automobile industry is also important to the city; after Tata's Nano project, Ford and Suzuki are planning to establish plants near Ahmedabad while the Groundbreaking ceremony for Peugeot has already been performed.
  The Ahmedabad Stock Exchange, located in the Ambavadi area of the city, is India's second oldest stock exchange. Two of the biggest pharmaceutical companies of India — Zydus Cadila and Torrent Pharmaceuticals – are based in the city. The Nirma group of industries, which runs a large number of detergent and chemical industrial units, has its corporate headquarters in the city. The city also houses the corporate headquarters of the Adani Group, a multinational trading and infrastructure development company. The Sardar Sarovar Project of dams and canals has improved the supply of potable water and electricity for the city. The information technology industry has developed significantly in Ahmedabad, with companies such as Tata Consultancy Services opening offices in the city. A NASSCOM survey in 2002 on the "Super Nine Indian Destinations" for IT-enabled services ranked Ahmedabad fifth among the top nine most competitive cities in the country. The city's educational and industrial institutions have attracted students and young skilled workers from the rest of India.
  Ahmedabad houses other major Indian corporates such as: Rasna, Wagh Bakri, Nirma, Cadila Pharmaceuticals, and Intas Biopharmaceuticals. Ahmedabad is the second largest cotton textile centre in India after Mumbai and the largest in Gujarat. Many cotton manufacturing units are currently running in and around Ahmedabad. Textiles are one of the major industries of the city. Gujarat Industrial Development Corporation has acquired land in Sanand taluka of Ahmedabad to set up three new industrial estates.
caption: Torrent Power thermal power station at Sabarmati, Ahmedabad
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