Hyderabad gears up for job market on the rise!

The global economy is slowing down. Markets worldwide are flashing warning signs that the global economy is stumbling on a cliff’s edge. While the United States is dealing with a fast incoming recession, the European states are battling inflation as the prices of essentials like gas and food continue to rise.

Experts say that the aftermath of the Russia-Ukraine crisis, China’s draconian pandemic policies, and runaway inflation clubbed with the United States Federal Reserve raising interest rates aggressively has pushed the world into a recession which is having a direct impact on the IT sector and employment in the United States. From Byju’s to Zomato and even mega giants including Google, Cisco, Twitter, Meta and Amazon, many companies have announced layoffs in recent months. Its ripple effects are seen even in India.

However, not everything is bleak, even in these times. While the US recession will slow growth in general, many companies could outsource the quantum of work. This, in turn, will create more employment opportunities in India. India today no longer outsources just voice-based call centres and BPO services. The kind of work being outsourced globally from our workforce ranges from IT jobs to data processing, photo-editing, CRM and even CAD drafting, rendering and more. In turn, this recession might be quite beneficial for some companies in India, especially the IT hubs in Hyderabad, Bengaluru and Pune.

Manisha Saboo, the President of the industry body Hyderabad Software Enterprises Association and Infosys Hyderabad SEZ Centre Head, predicts that more work will come to India, including the city of Hyderabad. There will be ample opportunities in animation, semiconductors and new segments like the Mobility Valley in the coming years.

A thriving IT and start-up ecosystem in Hyderabad will ensure that it continues to attract stakeholders even during the recession. The availability of skilled personnel will take care that companies face no problems in getting the required skilled talent here. Simultaneously, the Telangana Academy of Skills and Knowledge is working on training human resources to meet the industry’s requirements. The state government is also undertaking various development programmes enabling the creation of quality infrastructure. These aspects will be a driving factor of growth in coming years, according to experts.

A lot of companies have started setting up their Global Capability Centres (GCCs) in Hyderabad today. These centres will be the driving force of growth and help create global products and solutions.

Earlier, outsourcing works were given to Indian companies only due to the cost arbitrage they gave over the rest. And although that continues now, more companies are assigning work to India in their search for higher-order skills to handle research and development, product development and similar jobs, which are at the top of the pyramid in the outsourcing value chain.

Outsourcing isn’t also limited to just partial jobs anymore. With the recession in the picture, the outsourcing scale can be large. For instance, instead of assigning a part of the work to the companies, experts see the possibility of the entire IT department getting outsourced in the coming months.

The city is also benefitting from the work-from-home still practised in other offshore markets. Since many international organizations are not yet working from offices, some orders were being outsourced to Indian cities, including Hyderabad.

This is likely to also have a positive impact on the real estate market in the city. With demands for both commercial and residential spaces expected to rise, this is the perfect opportunity to invest in land in Hyderabad today.

At TMR Group, our plots in Chegunta and Maheshwaram are located in the hub of upcoming development for guaranteed appreciation of property and flourishing growth. Book a site visit today to secure your future in the land of growing opportunities. Visit https://tmrinfra.com/ today to know more!

Road infrastructure gets a booster dose from housing!

The infrastructure and connectivity of a city or urban centre are paramount to its development. As cities grow, so do their exteriors and peripheries that provide alternatives for affordable housing in the peripheral city areas. Convenient connectivity to the city’s core business districts and peripheries is vital for a suitable living environment.

There is a strong inverse correlation between road infrastructure and urban standard of living. When new roads are constructed across the expanse of rural and urban areas, the spread of development happens over a wider geography. This helps to potentially bring down the premium that certain urban agglomerations command for having better connectivity. This could be particularly true for metro cities in India with space constraints, such as Mumbai, Hyderabad and Bengaluru.

One of the downsides, however of this story is the lack of infrastructure management which often leads to incidents of worry on the roads. To ensure commuters have a smooth and incident-free ride on city roads in Hyderabad, the Greater Hyderabad Municipal Corporation (GHMC) has sanctioned 7,513 road-related projects under its jurisdiction for the fiscal year 2022-23. These works will be at a staggering cost of Rs 19.47 billion.

Of the 7,513 sanctioned road-related works, the GHMC has already completed 2,219 works. These expenditures amount to Rs 458.35 crore. According to official statements, the remaining 5,294 road works are in various stages of completion.

The state government plans to develop 104 link roads at the cost of Rs 2,410 crore under its Missing Links Projects (Phase-III) Programme. In a press release, the Hyderabad Road Development Corporation Limited (HRDCL) said that the objective of proposing these link roads is to improve mobility, ease traffic and enhance the growth of commercial establishments in the state.

CRMP agencies have also been allotted the responsibility of overall upkeep and maintenance of the entire main road stretches in traffic-worthy condition for five years. They’ll be responsible for maintaining the central medians, sanitation, greenery development, and kerb painting on main roads. Of the total 811.96 km main road network, CRMP agencies have already re-carpeted and worked on over 690 km of road.

Come monsoons, water logging and consequent degradation of roads is a common sight. The GHMC has taken initiatives to avoid rainwater stagnation and ensure the longevity of the roads that get frequently waterlogged during downpours. The body has decided to lay Vacuum Dewatered Cement Concrete (VDCC) roads instead of regular bitumen roads. The GHMC proposed 146 km of Vacuum Dewatered Cement Concrete (VDCC) with an outlay of Rs 158.67 crore this financial year, and these works are already underway in various locations. These roads are laid in colonies and stretches where traffic is relatively less than on major thoroughfares.

This boost to the city’s infrastructure lays the foundation for a flourishing future for Hyderabad and its peripheries. With link roads and connectivity to the core strengthening, residential rental yields are likely to multiply in the coming years. This marks the perfect opportunity to invest in plots in the future land of Maheshwaram and Chegunta near Hyderabad with TMR Group. Visit https://tmrinfra.com/ to know more!