THE year 2024 was a remarkable one for the industry sector which saw sizable investment happening here. The passing by year also marked capacity expansion of some of the industrial units and considerable progress of a couple of mega projects eventually creating new jobs. The Gas Authority of India Limited’s (GAIL) much - awaited project of laying gas pipeline along the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg has seen considerable work in 2024. Majority of the work on the 700 km stretch connecting Mumbai to Nagpur has been completed. It is expected to change the face of the city as more than 30,000 will soon get CNG connection in the coming days. Pernod Ricard, one of the fastestgrowing multinational alcohol beverage companies, started construction work of its ambitious wine maturation plant and distillery in MIHAN to produce single malt whisky. With an estimated investment of over Rs 2,500 crore, the company is setting up the largest and most state-of-theart facility in this part of the world, with the capacity to create more than 1,000 jobs.

 

The foundation stone of Avaada Electro Private Limited’s integrated solar plant was laid in the year in Butibori MIDC. With an investment of Rs 13,650 crore, the project is expected to create direct employment for 5,000. JSW Energy PSP Eleven Ltd and JSW Group of companies have recently taken a significant step forward to establish a mega project in the Butibori industrial area. Promising to further boost the region’s economic growth and create numerous opportunities for local businesses and the youths, the company is in its advanced stage of investing huge amounts to set up mega projects. The companies have proposed to invest Rs 25,000 crore in the area. Looking at the boost in tourism and business travel in Orange City, hoteliers have lined up huge investments in the hospitality sector here in 2024. Nearly 12 to 13 international and domestic players have either begun construction of their new properties or are on the verge of launching hotels to take the total room capacity of the city from existing 1,500 to 3,000 within the next two years. Upscale brands like Hilton’s DoubleTree; and Indian Hotels Company’s (IHCL) Ginger brand; to slew of domestic players including Sanjay Gupta-owned Ashok Group and Tejinder Singh Renu-owned Hotel Balbir Inn Private Limited are expanding their base in the city to offer luxurious stay options. Meanwhile, mid-range and budget hotels are also expanding their presence, ensuring affordability for diverse travelers.

 

This expansion represents a major leap for Nagpur’s hotel industry and the influx of new players will significantly enhance the city’s accommodation options, offering a wider range of choices for travelers. Riding on the wave of growing participationofinvestorsinthestockmarkets, four of the city's rapidly growing companies have launched their initial public offers (IPOs) and successfully raised the required money. In trade, the city saw increased volumes as compared to previous year. The sale of passenger and commercial vehicles recorded growth, ready made garments sales posted 15-20 per cent growth and the jewellery business posted about 20 per cent growth in the city. Interestingly, even as the gold prices surged by 28 per cent in 2024, the sector was buzzing throughout the year. As far as the entertainment industry is concerned, the initial months were very tough for exhibitors in the absence of hit moves. But the recently released‘Pushpa 2:The Rule’ movie broke all the previous records. The movie succeeded in attracting a large crowd towards cinema halls giving a sigh of relief to all those associated with the cinema halls.