The Economy of Bhavnagar is a balanced one in which both the agricultural and the industrial sector contribute equally to its growth. Diamond and cotton are the most significant resources of revenue. The economy of bhavnagar is considered to be a developing economy.
Bhavnagar Economy is primarily dependent upon the diamond jewelry business. Bhavnagar is a state in Gujarat which was established by Bhavsinhji Gohil in AD 1723 and is now considered to be one of the most important centers in Gujarat. It is a growing industrial city and an important commercial center, which earns a lot of revenue from cotton trade.
The Diamond City - Bhavnagar
Bhavnagar is famous for its diamond products. It is the biggest center for cutting and polishing of diamond in India. Most of the population in Bhavnagar is employed in the diamond cutting and polishing business. There are a number of firms which are involved in this business and their branches are spread all across India. Bhavnagar is situated near the Arabian Sea and the Gulf of Cambay. Therefore, it can carry on sea trade also. Bhavnagar harbors the biggest ship breaking yard known as the Alang. Many subsidiary industries are dependent on this shipping industry, which include rolling mills, oxygen plants and elicitation chambers.
Bhavnagar is one of the leading producers of cotton in the country and it exports cotton to other countries in the world.
Agriculture in Bhavnagar
The main agricultural produce of Bhavnagar consists of cotton, onion, bajra and groundnut. In Bhavnagar, one might come across the red colored pomegranates and guavas. These are specially produced in this part of the country.
The New Industrial Hub of India
Apart from the diamond industry, Bhavnagar is also slowly catching up with other parts of the country with the development of the IT sector. The engineering colleges have contributed a great deal in making the population computer savvy which has enabled the city to scale new heights in Information Technology.
Trade and Commerce
The city exports dry onions, cotton and shipping machinery. Their infrastructure also supports the development of large scale industries like the steel industry and the fertilizer manufacturing industry.
For more information on the Bhavnagar economy one might browse through the following pages:
Last Updated on 23 July 2012