How Sri City turned into a global business hub

Tirupati: Sri City, an Integrated Business City, located at the Southern end of Andhra Pradesh, just 55 km north of Chennai on the Andhra Pradesh-Tamil Nadu state borders, offers everything that a business needs, ranging from robust infrastructure that helps manufacturing activities to services and amenities that support a great living experience.

The city has been designed as a world-class city based on the 'new urbanisation' concept of integrated development that lends itself to scalability and sustainability for the future.

Spread across 100 sq kms, Sri City, which comprises a Special Economic Zone (SEZ), a Domestic Tariff Zone (DTZ), Free Trade Ware Housing Zone (FTWZ) and an Electronic Manufacturing Cluster (EMC), resonates the essence of a truly global manufacturing park.

The FTWZ primarily caters to companies dealing in imports and re-exports, packaging, warehousing and distribution in local markets. In line with the 'Make in India' and 'Make in AP' campaigns of the Central and State governments respectively, Sri City has emerged as one of the best global manufacturing hubs in the country with its robust infrastructure and locational advantage for exports and imports.

Sri City's Founder and Managing Director, Ravindra Sannareddy, has demonstrated tremendous dynamism over the years and thereby propelled the growth of this Business City to global standards. Sri City offers a number of multiple investment options and stands out as an example of a holistic Business City with investments close to Rs 31,000 cr. and exports exceeding Rs14,100 cr. A son of the soil, Ravindra Sannareddy understood the pulse of the region, and has been a catalyst in transforming the socio- economic landscape of the region. Sri City today employs over 50,000 people, of which more than 50 percent are women folk.

Inaugurated on August 8, 2008 by then Chief Minister of Andhra Pradesh, late Dr YS Rajasekhara Reddy, Sri City soon emerged as the preferred investment destination for several national and international brands, and today it is home to nearly 200 companies from 28 countries across the world.

Some of the biggest multinationals, such as Foxconn (mobile phones), Mondelez (chocolates), Kellogg's (cereal food), Alstom (metro coaches), Colgate Palmolive (tooth brushes), Pepsico (soft drinks), Lavazza (coffee), Danieli (Steel Components), Tata Smart Foodz (food products), Kobelco (cranes & excavators), Unicharm (personal hygiene products), West Pharma (Pharmaceutical Packing), VRV (cryogenic storage vessels), etc., are among the many brands that make Sri City a truly multi-product manufacturing hub. Invest India identifies Sri City region as one of the ten great places for manufacturing in the country, exhibiting great potential in attracting investments from other countries across the globe.

Developed on the core principles of 'Work, Live, Learn, Play', the city reverberates with life, allowing residents the access to everything that makes life energetic. Sri City is an ISO certified company for Quality Management System (QMS) and Environmental Management System (EMS) and is also an IGBC (Indian Green Building Council) Gold rated organisation.

It is the first large scale industrial development in the country progressing towards carbon neutral status. The Covid-19 crisis saw Sri City stay on top of things, take control, and with the cooperation of the government authorities and all the stakeholders, it has managed to minimise disruption to business and has commendably sustained commercial activity. With strict adherence to stipulated safety norms and following standard operating procedure at work places, Sri City got ready for the 'new normal'.

The lessons learnt fighting the Covid pandemic has made the industrial hub march towards being even a more sustainable city.

The bedrock of any growth are the values created by taking everyone along. Corporate Social Responsibility forms a significant aspect in the daily operations of Sri City, and Sri City Foundation's interventions in education, skill development, sanitation, healthcare and environmental awareness have significantly added towards uplifting the lives of the people of the region.

During Covid crisis, Sri City along with the industrial units generously donated both in cash and kind. Oxygen tanks and accessories, medical equipment and health-care material were donated to several hospitals in the region. A focal point of economic evolution, Sri City is a destination that assures maximum returns on investments in the Bengaluru-Chennai and Vishakapatnam-Chennai industrial corridors.

The city is one of the top ten industrial park's in the country and has greatly boosted local manufacturing which in turn has created numerous jobs leading to a boom in the economy of the state and the region.