Economy

DND Flyway The Great India Place mall IT Park Logix Cyber Park IT Park

Noida is a major hub for multinational firms outsourcing IT services e.g. Sapient, Qualtech_Consultants, Headstrong, EXL Service, One97, MyKaarma, Abstract Consultancy, TSYS International, SDG Corporation, Dex Consulting, Search Value ITES Pvt Ltd, IBM, Miracle, AON Hewitt, Fujitsu, Ebix, CSC, Fiserv, TCS, WIPRO, HCL, 360logica software testing services, Tribal Fusion, Tech Mahindra, Adobe Systems, Ericsson, DELL, Sparta Consulting, Patni Computers, Corbus, Accenture, Samsung, JKT, Metlife, Smartchip, Avis e-Solutions, Indus Valley Partners, The Smart Cube, Many large software and business process outsourcing companies have their offices in the city.

Many other companies have their Indian branch offices in Noida, because of many factors, including its Special Economic Zone status, its suburban atmosphere and its proximity to Delhi. Noida also hosts the head office of the Software Technology Park, which was established by the Government of India to promote the software industry.

Noida is a major hub of industry. Noida has quickly emerged as a hub for automobile ancillary units, with companies like Escorts, Honda-SIEL, Moriroku Technology India Pvt Ltd and New Holland Tractors (JV of FIAT with Ford). A Daewoo plant was also located in the city, but has since closed. Major manufacturers and others like Alstom, ISGEC, LG, Samsung, Ericsson and music company T-series also have their corporates in the city.

Film city, established by Sandeep Marwah, is a hub for major news channels and studios. News channels such as Zee News, NDTV, TV Today group, CNN-IBN, CNBC, newsX, are situated here. Noida's proximity to Delhi, which is the political hub of the country, makes it an attractive destination for news channels. Commercial activities have also risen in recent years, with a spate of new malls and multiplexes.

Development in industry, commerce and trade have led Noida to be a model city in UP. It is a major revenue earner for the government through taxes. The Noida model is now being replicated across various cities in UP, with a proactive development agency working to achieve high growth rates for business, industry and commercial ventures.

Shopping arcades The Great India Place, sector 38 A ( near sector 18) Garden Galleria {The Great India Place Phase-2}Sector 38 A The Mall of India Sector 18 Centrestage Mall, sector 18, The Spice World Mall, sector 25A, ( near Noida stadium) Shopprix Mall, sector 61 Sab Mall, sector 18 Atta Market, sector 18 Hotels Radisson Blu, sector 18 Park Plaza, sector 55 Fortune Inn Grazia, sector 27 Nirula's, sector 2 Mosaic, sector 18 Suraj K Mad., sector 22 Ansal Plaza, Near Pari Chowk, Greater Noida Real estate issues

In 2005, Noida Authority announced the construction of the world's tallest building (of 135 stories) as part of the ambitious Noida City Center development project. While the proposal was still in preliminary stage, the Noida Authority came under fire and the project was shelved indefinitely, due to protests from its citizens concerned about its controversial nature, due to the fact that the city does not have the geographical or administrative infrastructure to handle a 1 km tall building. Noida comes under Seismic Zone 4, which along with the loose soil and sand of the Yamuna river bed, means that a building collapse in an earthquake situation is a distinct possibility. It was felt that the city needed to focus on solving basic problems, like low water quality, security, traffic management and intermittent power supply before looking at grandiose projects of dubious value to the city.

In 2006, the massive sealing drive by the MCD in adjoining Delhi, forced traders to shut shops in Delhi and move to other locations. Gurgaon and Noida were the favoured destinations for such people, pushing property rates, both commercial and residential, further up. In November 2006, the Sector 18 market, a prime commercial area, set a new record for land rates in the NCR region with a plot of land being sold at an astronomical Rs. 650,000 per square meter, (approx $15,276 per square meter), a rate that compares well against the highest rates of real estate across the major cities of the world including New York, Tokyo, Singapore and Hong Kong.