Top 10 industries in Indore

Indore’s business ecosystem is characterised by a diverse range of enterprises, spanning from small-scale startups to large-scale corporations. This diverse and rapid economic expansion has not only bolstered the city’s overall economic conditions but has impacted the real estate sector. As the city’s industrial and commercial requirements continue to expand, there is an escalating demand for industrial spaces, commercial plots and warehouses. Simultaneously, the need for office spaces, research and development centres, corporate headquarters and residential properties has become increasingly pronounced. Consequently, the real estate sector in Indore is poised for sustained growth and development in the years ahead.

In this article, we will delve into the top 10 industries in Indore and explore their profound influence on the city’s business landscape and the ever-evolving real estate sector.

See also: Top 10 MNCs in Indore

 

Business landscape in Indore

Indore stands as a prominent hub of industrial growth in central India. Fueled by favourable government policies and robust infrastructure, the city’s economic landscape thrives. While food and textiles dominate, heavy industries such as manufacturing, pharmaceuticals and automobiles also contribute significantly. These sectors attract a mix of local and established companies, fostering a diverse and dynamic business environment. Furthermore, Indore’s growing population has spurred rapid expansion in service industries such as BPOs, consultancies, telecommunications and healthcare, all capitalising on the city’s congenial business climate and growth potential.

 

Top 10 industries in Indore

Kinetic Honda

Industry: Automotive

Company Type: Manufacturing

Location: Agra Bombay Road, Indore, Madhya Pradesh – 452001

Founded in: 1998

Kinetic Honda was a collaboration between India’s Kinetic Engineering and Japan’s Honda Motor Company. This partnership, active from 1984 to 1998, marked the introduction of innovative two-stroke scooters in India. Notably, it introduced features such as continuously variable transmission and electric start, setting trends in the Indian scooter market. After the joint venture ended in 1998, Kinetic Engineering continued selling these scooters under the Kinetic brand until 2008, when Mahindra acquired the interests.

 

Eicher Motors

Industry: Automotive

Company Type: Manufacturing

Location: Pithampur, Indore, Madhya Pradesh – 452007

Founded in: 1982

Eicher Motors is a significant Indian multinational in the automotive industry, headquartered in New Delhi. Eicher is best known as the parent company of Royal Enfield, a renowned manufacturer of middleweight motorcycles. The company’s history dates back to 1948 when Goodearth Company was founded for distributing and servicing imported tractors. Eicher’s journey continued, including a joint venture with Sweden’s AB Volvo, known as Volvo Eicher Commercial Vehicles (VECV). VECV has played a vital role in modernising commercial vehicles in India and other developing nations.

 

Larsen & Toubro (L&T)

Industry: Engineering, construction, manufacturing

Company Type: MNC

Location: Dhar, Indore, Madhya Pradesh – 454774

Founded in: 1946

Larsen & Toubro, referred to as L&T, is a prominent Indian multinational conglomerate with diversified interests. It operates in various sectors, including engineering, construction, manufacturing, technology, information technology and financial services. Founded by two Danish engineers, it boasts an extensive network of subsidiaries, associates, and joint ventures, operating across a wide spectrum of industries.

 

Arihant Transformers

Industry: Power and distribution transformers

Company Type: Manufacturing

Location: Bhorsala Sanwer Road, Indore, Madhya Pradesh – 452001

Founded in: 2012

Arihant Transformers employs a dedicated team of electrical engineers who play a crucial role in manufacturing distribution networks and customised transformers sold under the Arihant Transformers brand. The company places a strong emphasis on delivering top-notch quality and provides comprehensive after-sales support for installations across India. It makes both power and distribution transformers that are loaded with oil. It also produces and designs the entire transformer series in the specific class.

 

Cyano Pharma Group

Industry: Ayurvedic pharmaceutical formulation

Company Type: Manufacturing

Location: Industrial estate, Indore, Madhya Pradesh – 452015

Founded in: 2000

In 1965, Cyano Pharma was founded by a technocrat as a partnership business, and later it transitioned into a proprietorship firm. Established in 2000, Cyano Pharma has become one of the prominent manufacturing companies in Indore. They specialise in producing generic and patented allopathic as well as ayurvedic pharmaceutical formulations, encompassing divisions for tablets, capsules, oral liquids, external liquids, ointments, powders, and more. The company’s primary focus is on manufacturing a wide range of products, including ferrous sulphate and folic acid tablets, along with various other healthcare items.

 

Raj Enterprises

Industry: Safety wear

Company Type: Manufacturing

Location: Nasia Road Indore, Madhya Pradesh – 452007

Founded in: 1983

Established in 1983, Raj Enterprises specialises in the manufacturing and distribution of high-quality protective gloves, safety footwear and leather leg guards. Known for its commitment to delivering products with a soft texture, shrink resistance, and an impeccable finish, the company operates a well-equipped production facility. Raj Enterprises is dedicated to ensuring maximum client satisfaction and has built a growing customer base by emphasising the importance of customer happiness alongside its products and services.

 

MD Indore

Industry: Material handling

Company Type: Manufacturing

Location: Sanwer Road, Indore, Madhya Pradesh – 452001

Founded in: 1993

MD Indore boasts a state-of-the-art manufacturing facility equipped with advanced production machinery. Backed by exceptional raw materials and a skilled workforce, the company excels in delivering products of unparalleled quality and precision. Its machinery inventory includes bending machines, grinding equipment, lathe machineries, cutting tools, welding machines and crimping machines. In addition, MD Indore has the capability to produce Cranes and Material Handling Equipment and Machinery tailored to client needs, solidifying its position as one of the top manufacturing companies in Indore.

 

Adroit Industries

Industry: Chemicals and polymers

Company Type: Manufacturing

Location: Sanwer Road, Indore, Madhya Pradesh – 452015

Founded in: 1995

Adroit Industries is a flagship firm that began trading in various chemicals and polymers in the 1980s. Today, as part of the Signet Group, the company’s business portfolio encompasses petrochemicals, polymer sales and marketing, and power generation, among other sectors. Driven by a customer-centric approach, Adroit Industries focuses on planning, specialised knowledge, foolproof strategies, feasibility studies, and innovation in every project.

 

Vora Wires Industrial

Industry: Industrial wires and shutters

Company Type: Manufacturing

Location: Sanwer Road, Indore, Madhya Pradesh – 452001

Founded in: 1973

Founded in 1973 in Indore, Madhya Pradesh, Vora Wires Industrial is a major player in the manufacturing industry, specialising in a comprehensive range of Industrial Wires and Shutters. The company places a strong emphasis on reliability, evident through its BIS License 6006 and ISO 9001:2008 certifications. Operating from a high-tech manufacturing plant with a large capacity, Vora Wires Industrial efficiently caters to diverse industrial needs. It offers products characterised by high corrosion resistance, exceptional compressive strength, and structural correctness, serving various sectors including engineering, petrochemical and construction industries.

 

Hitech Metal Formings

Industry: Sheet Metal

Company Type: Manufacturing

Location: Bhorasala, Indore, Madhya Pradesh – 452003

Founded in: 1996

Hitech Metal Formings is a manufacturing company with a certified ISO/TS 16949:2009 manufacturing plant. Focusing on quality, the company excels in supplying top-notch products such as automobile sheet metal parts, air reservoirs, mechanical jacks, fabricated assemblies and fire extinguishers Utilising superior infrastructure, extensive production facilities and a dedicated and youthful workforce, Hitech Metal Formings is committed to delivering quality solutions, on-time delivery and competitive prices.

 

Swastik Spintex

Industry: Fashion Textile

Company Type: Manufacturing

Location: Scheme 54 PU4, Indore, Madhya Pradesh – 452010

Founded in: 1994

Swastik Spintex is engaged in the business of fashion textile and manufacturing in Indore. It is classified as Non-govt company and is registered at Registrar of Companies, Gwalior. Its authorised share capital is Rs. 60,000,000.

 

Central India Fabrics

Industry: Manufacturer, Exporter and Supplier

Company Type: Fabrics, Home Furnishing Items, Flannel Garments and Apparels

Location: Sector D, Industrial Area, Indore, Madhya Pradesh – 452015

Founded in: 2009

Established in 2009 at Indore, Central India Fabrics is engaged in manufacturing, supply and export of Cotton Printed Flannel Fabric, Rifle Cleaning Flannel, Flannel Baby Clothes, Interlining Fabric and Quality Fabric Items.

 

Navkar Textiles

Industry: Manufacturing, Supplying and Exporting

Company Type: BedSheets ( Cotton + Polycot), Hospital Bedsheets, Yellow Duster, Riffil Cloth, Flannel Fabric, Canvas Fabric

Location: Sector D, Industrial Area, Indore, Madhya Pradesh – 452015

Founded in: 1980

Estbalished in 1980, Navkar Textiles’ has is recognised as a prime manufacturer, supplier and exporter of an BedSheets, Hospital Bedsheets, Riffil Cloth, Yellow Duster, Flannel Fabric and Canvas Fabric. The products are manufactured with premium quality raw material procured from trusted vendors and are acclaimed in the market for their durability and high quality.

 

Commercial real estate demand in Indore

Office space

Indore’s demand for office space is currently at an all-time high, largely driven by the robust growth of industries. Neighbourhoods such as the Super Corridor, Vijay Nagar, and Scheme No. 78 have experienced a surge in demand due to their excellent connectivity and availability of amenities, making them preferred locations for businesses of all sizes.

Rental property

Indore’s status as an industrial hub has drawn a substantial number of working individuals in recent years. This increased demand is especially notable in areas surrounding industrial zones and thriving commercial centres, with Scheme No. 54, Scheme No. 78, and the Super Corridor emerging as prominent choices for rental properties.

Impact

The presence of these thriving industries has not only stimulated the development of new commercial projects but has also generated employment opportunities, thereby bolstering the local economy. Additionally, developers are increasingly focusing on mixed-use developments that combine residential, commercial and retail spaces, enriching the urban landscape and the quality of life for residents and businesses alike.

 

Impact of companies on Indore

Indore owes much of its growth to its diverse industries, which have left a substantial imprint on its economy and real estate landscape. Economically, industries such as textiles, pharmaceuticals, automobiles and engineering have been pivotal drivers of growth, generating employment opportunities and revenue that have significantly impacted the local real estate market. The presence of these industries has led to a surge in demand for housing, driven both by their employees seeking residences and businesses requiring commercial spaces.

Moreover, the strategic proximity of the sprawling Pithampur Industrial Region to Indore has further accelerated this transformation. Pithampur, home to numerous industrial units, including multinational corporations, has acted as a catalyst for Indore’s economic development. The opportunities it presents have drawn a considerable influx of individuals and businesses to the city, intensifying the demand for housing.

 

FAQs

Is Indore poised to become the next IT hub?

Yes, Indore has the necessary attributes to become the next IT hub in India, including strong infrastructure, skilled workforce, government support, startup ecosystem and cost advantages.

What is the average salary in Indore for mid-career professionals?

Mid-career professionals with four to nine years of experience earn an average salary of Rs 1.9 Lakhs per year in Indore.

Is Indore known for its cleanliness?

Yes, Indore is renowned for its cleanliness and holds the title of the cleanest city in India due to effective waste management practices.

Which city is known as the industrial city of Madhya Pradesh?

Pithampur is known as the industrial city of Madhya Pradesh, housing major industries and companies in the state.

What industries thrive in Indore?

Indore hosts a diverse range of industries, including metal industries, alloy production, automobile manufacturing and steel production. These industries are vital components of the city's economy, making Indore an attractive destination for various businesses.

What factors make Indore an attractive choice for industries in India?

Indore's appeal to industries in India lies in its ability to offer cost-effective equipment, affordable real estate, robust transportation infrastructure, educational institutions and opportunities across various industrial sectors.

Is Indore a safe city?

Yes, Indore is a safe city with round-the-clock security. Exercise common courtesy while exploring, as Indorians are welcoming and hospitable.

Is Rs 25k sufficient for living in Indore?

Yes, for a couple, Rs 20,000 to Rs 25,000 covers basic expenses, including rent (Rs 6,000 to Rs 8,000) and electricity (up to Rs 1,000) for essential equipment. Adjustments may be needed based on lifestyle.

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected]