NS RAMNATH The Economic Times FRIDAY, DECEMBER 23, 2005
CHENNAI: They may well be called tier-II cities or small towns, but they appear all set to lead the charge in the New Year. Having successfully lured IT and ITES companies to set up shop in their territories, Mysore, Coimbatore, Vizag, Nagpur, Bhubaneswar and Trichy, among others, will, sooner than later, be brandishing the power of youth and money. Call it the Y & M Factor, if you like. Or call it by whatever name you choose to. There is no doubt that this is a lethal combo which will push these tier-II towns on to centre stage. Can business, then, be far behind? Observers say the arrival of IT and BPO companies to tier-II cities and smaller towns will create a segment of young, high spenders in these places which will eventually drive demand for a range of products and services. Huge opportunities will open up for other businesses — from real estate to food and from retail and fashion to entertainment. The trend is already visible in sectors such as residential housing.
No comments:
Post a Comment