Wholesale Markets in Hyderabad and Their Importance
Apart from its popular cosmopolitan nature, culture, and good institutions, Hyderabad is also popular for its wholesale markets that not only cater to the needs of the city population but also those of people staying hundreds of kilometers away from the city.
For example, the city is popular for pearls. People who visit the city won't leave without purchasing pearls. Surprisingly, pearls are neither manufactured nor grown in the city. But the city has gained popularity as 'Pearl City' because of the wholesale pearl markets that offer a wide variety of pearls.
The markets in Hyderabad are unique and many are 400 years old. Under the rule of Quli Qutub Shah, the city was a world famous trade centre for rare diamonds and pearls.
Compared to retail markets, goods are available at reasonable prices in wholesale markets. There are many markets in the city for purchasing a variety of goods such as textiles, pearls, bangles, brassware, silver and gold ornaments, precious stones, carpets, handicrafts, paintings, toys, electrical items and so on.
Some of Hyderabad's famous wholesale markets are Begum Bazaar, Madina, Ranigunj, Laad Bazaar and Sultan Bazaar. You name anything, and you get it here. The streets of these areas are very busy and are usually crowded with shoppers.
Importance of wholesale markets in Hyderabad city A city is a market, everybody comes to the city because of the markets. The city offers great opportunity for trading - all the buying power is in the city, the income generating people are in the city. Hence, markets are economically viable in the city.
Though the products are not produced in the city, it plays a key role because it has markets where product are traded and distributed. People want a common place where they can get all the things (irrespective of the place produced) they need, that is what a wholesale market in the city is about. Whatever may be the occasion or need, people from all districts come to the city to buy various things.
City allows centralized trading at a single location Villagers and other businessmen move to city to do business, as village markets have no system, have monopoly (biased and authoritative) and are not economically viable as there is no one to buy there. This significantly improves the efficiency of distribution of goods, which is very much advantageous for manufacturers.
Hyderabad markets are not replicated You cannot find any other similar market in Andhra Pradesh, India. If you don't get a thing in Hyderabad, probably, you won't get that thing anywhere else in the state.
A city has to be a market. This is because as commerce and trading, infrastructure is built in the city, the city becomes economically viable, people get jobs and the standard of living improves.
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