Agra is the most popular tourist destination in India. One of the Seven Wonders of the World, the world renowned 'Taj Mahal', is located here.
It is very close to the country capital Delhi. Agra is not only famous for its historical places, but also for its rich art and culture.
Tourism is the major contributor to the economy of the city. Apart from Taj Mahal there are other famous destinations such as Fatehpur Sikri and Agra Fort, all belonging to the Mughal era. It also has the soor sarovar bird sanctuary and other tourist places such as Itmad-ud-Daulah and Sikandara.
Thus, tourism is the major sector to invest in for foreign investors. The FDI in this sector is 100% through the automatic route and there are no hassles involved. Also, as this sector is ever evolving the growth prospects are great.
Agra is also known for its magnificent handicrafts. Brass wear and carpets from Agra are renowned all over. Carpets of good quality and variety are available here. It is also renowned for its jewelry and exquisite zari and embroidery works. These works are most sought after worldwide, hence this is one sector that offers lots of scope and promise for investors.
Agra also has many garment and apparel manufacturers which undertake exports.
There are also many wholesale industries and manufacturers in Agra which cater to a vast market. Thus, the garment production and export industry is a viable option of investment for foreign investors.
The automobile industry is also an important sector in Agra. Many major players in this field have set up operations in Agra. This sector is growing tremendously in India. Also, as many foreign automobile players are setting up their shops in India, this industry is set to grow a lot and offers good investment potential.
The leather industry is also another sector. Agra has some of the head manufacturers and exporters in this field. The footwear industry is also a growing field in this sector. Exports are also a thriving sector in the leather industry. There are thus plenty of options for foreign investment in this area.
As a result of growth and expansion this city is engaging more in the development of its existing infrastructure. 100% FDI investment is permissible in this sector. Transport avenues such as roads and rail are also being spruced up. All this presents a good opportunity for foreign players to foray in this sector. Their expertise will be an added advantage for these players to be chosen. Hence, this is a great opportunity for foreign investment.
The government has also taken initiatives to encourage FDI (foreign direct investment) in India. The FDI norms have been eased in all sectors to facilitate foreign investment. Thus, it is easier for foreigners to invest money in India now than it was earlier.
Agra is thus a very good investment option for foreign investors. Tourism is the major grosser, but other industries are also catching up and offering great potential for foreign investment.