Nagpur has been the main center of commerce in the Vidarbha region since early days and is an important trading location. However, Nagpur's economic importance had gradually declined relative to Mumbai and Pune after the merging of Vidarbha into the Maharashtra because of a prolonged period of neglect by the state govement. During the slowdown, state and central govement offices were a major source of employment in the city. The city is important for the banking sector as it hosts the regional office of Reserve Bank of India, which was opened on September 10, 1956. Sitabuldi market in central Nagpur, known as the Heart of the city, is the main and major commercial market area of city.
The Butibori industrial area is the largest in all of Asia in terms of area. The estate's largest unit is of Indo Rama Synthetics, which manufactures synthetic polyester ya. Other units in Butibori include the power transmission company KEC, Hyundai Unitech, ACC Nihon Castings Ltd. Koradi Thermal Power Station and Khaparkheda Thermal Power Station are the two major thermal power stations located near Nagpur and operated by MSPGCL.
The Hingna industrial estate located on the weste fringes of the city is made up of around 900 small and medium industrial units. The major ones among them are tractor manufacturing plant of Mahindra and Mahindra, casting units of NECO Ltd. (the country's largest casting group), units of Inteational Combustions, Bajaj Auto group, Candico (the SECOND largest confectionery manufacturing plant in India ), Ajanta toothbrushes and Sanvijay Group (largest steel rolling group of companies for long products in Central India). Nagpur is home to ice-cream manufacturer Dinshaws, Indian dry food manufacturer Haldiram's and Ayurvedic product company Vicco .
Multi-modal Inteational Cargo Hub and Airport at Nagpur (MIHAN)
Currently, Nagpur is witnessing an economic boom as "Multi-modal Inteational Cargo Hub and Airport at Nagpur (MIHAN)" is being developed. MIHAN will be used for handling heavy cargo coming from south east Asia and Middle east Asia. Project will also include Rs 10,000 crore (US$ 2.15 billion) Special Economic Zone (SEZ) for Information Technology (IT) companies. Persistent Systems has one of the software development centers at Nagpur.
List of localities in Nagpur
Below is the list of localities of Nagpur.
- The Civil Lines contains most of the govement offices and residences in Nagpur including the Bombay High Court bench and the Vidhan Bhavan. The area is noted for its greenery, roads and cleanliness.
- Seminary Hills is home to educational institutes like SFS College, LAD, Nagpur veterinary college, Maharashtra Animal and Fishery Sciences University, KV, Center Point school and offices like Air Force, CGO Complex, TV Tower. For entertainment there is Joggers Park, Deer Park, Toy Train, swimming pools etc.
- Police Line Colony(Taakli) is one of the largest sub-urban localities. It adjoins the Police Line apartments behind the Police HQ.
- Sadar is a famous shopping place, close to Railway Station. Famous locations in Sadar include NIT Building, Karachiwala Mall, Kasturchand Park, SFS school, IT Park, Anjuman Engineering College complex, Govt Polytechnic, Goveor's House and Mangalwari Bazar. Dinshaws, Tuli Hotel and many restaurants are here.
- Mecosabagh is located near Kamptee Highway. It is home to the Christian population of Nagpur. It is famous for its Football and Cricket clubs.
- Byramji Town is one of the most posh localities housing the rich & famous of Nagpur. The first & most famous mall of Nagpur, Poonam Chambers Mall is located here. The area mainly resides the affluent parsi & punjabi families.
- Clarke Town is located close to the Gurudwara, and is where many Punjabi families are living.
- Teka Naka-Kamptee Road is one of the biggest transport zone in central area. there are many transporters, commercial vehicle owners reside in this area. Major residents of this area are Punjabis, Muslims etc.
- Kalamna is the one of the largest wholesale markets for oranges and grains in Asia.
- Mominpura popularly known as the Chandni Chowk of Nagpur. Small restaurants and hotels are open over night. Famous biryani delicacies can be enjoyed here at ML Canteen, Bartania and many more eating joints. Hajj House is likely to be constructed here. Mayo hospital and Jama Masjid are part of Mominpura.
- Itwari is the wholesale business center of Nagpur. Hardware, cloth, household, wedding saree market of central India. There is huge concentration of Muslim-Bohra community in this area, with their business, residence and religious places.
- Mahal is the old part of Nagpur, and is noted for its relatively narrow streets and crowded residential quarters. Famous Bhonsale palace, residence of Bhonsale kings, is situated in Mahal. There are many historic temples in Mahal area such as Kalyaneshwar Mandir, Pataleshwar Mandir and Aychit Mandir. Mahal is also known for cloth market and old book market situated on Kelibagh road.
- Sitabuldi (commonly referred to as 'buldi', pronounced 'burdi') is the main commercial part of the city. It contains numerous shops of all sizes and the largest wholesale vegetable market in Nagpur. Sitabuldi Main Road is one of the main shopping streets in the area. Also located in Sitabuldi is the Sitabuldi Fort. It is situated on an elevated area. Being under the control of the Indian Army, the fort is only open to the public on two occasions every year -- August 15 (Independence Day) and January 26 (Republic Day). The longest flyover in Nagpur has its origin near Sitabuldi Fort and terminates at Rahate Colony Square, approximately 1.5 kilometers away. The ride offer the upcoming skyline of Nagpur along this road. Famous Haldirams Food Mall located here.
- Dhantoli is the best residential area in Nagpur.Locality is home to several business tycoons, corporate high rollers, professionals and artists .Example : Vikram Pandit of Citigroup ,V.R.Manohar (Hotshot lawyer & former Advocate General of Maharashtra) and Shashank Manohar (BCCI president)
- Dharampeth,Laxmi Nagar,Gandhi Nagar,Pratap Nagar,Khamla,Somalwada,Ramdaspeth & Shraddhanad peth are residential areas in this region.
- Medical Square is a place near Govement Medical College and Hospital which is a Govt. managed body conceing public health care.
- Tajbaug famous for the shrine of Tajuddin Baba. Muslims, Hindus and people from all walks of life show their respect to this Sufi saint.
- Manewada, Besa, Narendra Nagar and Satyam City are suburbs with many new residential projects.