Palava was planned from its inception to bring together all the
ingredients necessary to make businesses thrive: a world-class talent
pool, untapped markets, a modern business district, unrivalled
connectivity, a location at the very centre of business, and a
streamlined single-window applications system.
The city will implement a three-phase plan to foster economic activity:
Phase I: Focus on sectors like IT, ITES companies, financial institutions, small and medium enterprises, and trading.
Phase II: Opportunities in the fields of retail, hospitality, entertainment, food service, tourism, education, medical, legal, transport and facility management thanks to the residential and commercial areas.
Phase III: The university’s focus on research and development will attract high-calibre talent and foster an environment of innovation, giving rise to jobs in sectors like healthcare, biotechnology, design and architecture.
By 2025, this plan will result in over 1,30,000 direct job opportunities
and nearly twice as many indirect jobs.
According to the city’s planners, Palava’s annual GDP
will grow to Rs. 60,000 crore by 2025, making it one of
the fastest-growing young cities in the world.