How are Tier-II & III cities acting as growth engines of the economy? Here’s what Andromeda has to say
As the services sector started its precedence over manufacturing and agriculture in the late 90s, the lack of employment opportunities, career growth, and crumbling infrastructure in India’s smaller cities and towns drove the country’s youth and unskilled labor to tier I cities like Mumbai, New Delhi, and others. However, the latest trends suggest that tier II & III cities offer better economic revival and growth opportunities making them the next big market for companies. One of the biggest contributing factors has been credit availability to most parts of the country. With technological advancements, the youth is making out the best with various credit facilities being made available to them via low-rate personal loan, credit cards, and no-cost EMIs.