Business and Economy in BhavnagarBhavnagar's strategic location is the prime reason for its commercial and economic development. Bhavnagar has large number of ship-breaking industries , Diamond Polishing and Diamond cutting units, plastics, salt and marine chemicals, and ship building industries. Not only this, Bhavnagar is also a eminent trading centre for cotton products. This city also has the crown of being the biggest producer of salt, with about 34,500 tons salt being produced every year. There are about 112 large and medium scale industries located in Bhavnagar. Elite Chemicals, a Bhavnagar based company manufactured a significant Antacid chemical, Magnesium Hydroxide which was previously imported.
Economic Growth of BhavnagarBhavnagar port has helped bringing a surge in the industrial development as it becomes easier to carry out the trading. Also, other major industrial hubs of Gujrat like Ahemdabad and Rajkot are located closely to Bhavnagar. The food processing industries in Bhavnagar is also flourishing which has led to increased employment opportunities. The ship breaking industry has led to development of many small industries such as Ceramic and glass, Service and repairing , chemicals and many more which has helped in improving the economy of Bhavnagar.
Diamond Polishing Business in Bhavnagar
The diamond polishing and cutting industry in Bhavnagar is huge and it is an important sector not only in Gujrat, but all over India. About 3 lakh people are employed in more than 1500 diamond polishing and cutting units in Bhavnagar. Most of the units have their head offices in cities like Antwerp, Mumbai and Surat and these companies consign work to units in Bhavnagar. Surat stands first in the diamond polishing and cutting industry followed by Bhavnagar. Also, Bhavnagar proximity with the Arabian Sea and gulf of Cambay is another reason for increase in commercial importance. Now this city also has 24 *7 electricity which has helped in development of this business.
Ship Breaking Business in BhavnagarThe Alang ship breaking yard which is located close to Bhavnagar, is the biggest recycling ship hub in the world. It disintegrates about half of the salvaged ships of the world. Thanks to this ship breaking business, other supporting industries such as re-rolling mills, induction furnaces and oxygen bottling plants. Bhavnagar manufactures steel vessels and FRP which is nothing but Fiberglass Reinforced Plastic boats. This manufacturing takes place at Alcock Ashdown Ltd ship building facility.Ship-recycling industry is helping the shipping industry regaining the financial value of the zero-valued vessels.This helps in reducing maritime burden of handling such ineligible vessels.
This industry also helps in producing huge quantities of re-rollable steel which is done without any exploitation of natural resources. The valuable machineries and equipments that are recovered is sold to various industries at cheaper rates. Thus, the small scale industry benefits by reduction of capital investment in machineries. This industry increases the employment opportunities for thousands of them and it provides business opportunity to cash buyers, shipping agents, marine traders and brokers, ship brokers, gas plants, transporters etc. This industry provides a lot of steel to western India where it is not available. Thus, saving their transportation cost.
Major Industries in BhavnagarSome of the major industries in Bhavnagar includes:
- Alcock Ashdown
- Tamboli Castings Limited
- SteelCast Bhavnagar
- Excel crop care
- Madhu Silica Pvt. Ltd
- Elite Chemicals and Sound Build Care Pvt Ltd
- Industrial Jewels
- Renaissance Jewellery Ltd
- New Kanak Cryo Sales Service & Consultancy - INDIA (NKCS)
Agriculture in BhavnagarA small section of Bhavnagar still depends on Agriculture for their livelihood. Major crops produced in Bhavnagar includes Citrus, Onion, Guava, Banana and Chiku. Bhavnagar did not have good irrigation facilities before, but now with the help of various water harvesting structures like pucca check-dams, boribandhs and form ponds that have been constructed has helped in increasing the ground water which has in turn benefited the agriculture sector in Bhavnagar.
There are many other industry and sector that is prospering like handicrafts, textiles, food and many more. The availability of perfect infrastructure, good governance, strategic location are some of the important points which suggest the flourishing growth and surge of Bhavnagar's economy.
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