information:extraction, structural:scholar_edition
Economy

Nagpur is an emerging metropolis. Nagpur's nominal GDP was estimated to be around ₹ 181,665 crore (US$22 billion) in 2022-23, making it the largest economic centre in entire central India. Nagpur district has a per-capita GDP of ₹ 292,607 (US$3,500) as of 2022-23 financial year, being the highest in the central India In 2004, it was ranked the fastest-growing city in India in terms of the number of households with an annual income of ₹10 million or more. Nagpur has been the main centre of commerce in the region of Vidarbha since its early days and is an important trading location. Although, Nagpur's economic importance gradually declined relative to Mumbai and Pune after the merging of Vidarbha into Maharashtra because of a period of neglect by the state government, the city's economy later recovered.

The city is important for the banking sector as it hosts the regional office of Reserve Bank of India, which was opened on 10 September 1956. The Reserve Bank of India has two branches in Nagpur, one of which houses India's entire gold assets. Sitabuldi market in central Nagpur, known as the heart of the city, is the major commercial market area.

Nagpur is home to ice-cream manufacturer Dinshaws, Indian dry food manufacturer Haldiram's, Indian ready-to-cook food manufacturer Actchawa, spice manufacturer Suruchi International, Ayurvedic products company Vicco, Baidyanath, Vithoba, & Aroma, Water Tank & Pipe manufacturing company R C Plasto and Explosives & Ammunition company Solar Industries.

For centuries, Nagpur has been famous for its orange gardens in the country, hence the name "Orange City". Orange cultivation has been expanding and it is the biggest marketplace for oranges in the country. The Maharashtra Agro Industrial Development Corporation has its multi fruit processing division called Nagpur Orange Grower's Association (NOGA) which has an installed capacity of 4,950 MT of fruits per annum. Orange is also exported to various regions in the country as well to other countries. Nagpur is also famous for the cotton and silk which is woven by its large Koshti population of handloom weavers which are around 5,000.

Nagpur and the Vidarbha region have a very prominent power sector as compared to the rest of Maharashtra. Koradi Thermal Power Station and Khaparkheda Thermal Power Station are two major thermal power stations located near Nagpur and operated by MSPGCL. NTPC has a super thermal power plant called Mauda Super Thermal Power Station in Mauda around 40 km from Nagpur and Vidarbha Industries Power Limited (a subsidiary of Reliance Power) is situated at Butibori.

The Multi-modal International Hub Airport at Nagpur (MIHAN) is an ongoing project for the Dr. Babasaheb Ambedkar International Airport, Nagpur. The government of Maharashtra formed a special purpose entity, Maharashtra Airport Development Company, for the development of MIHAN.

Prominent Information Technology companies such as TCS, Tech Mahindra, HCL, GlobalLogic, Persistent Systems, Infosys, T-Systems, Ebix, LTIMindtree, Accenture, Zoho, Hexaware etc. are located at various IT parks in Nagpur. Tata Advanced Systems, erstwhile TAL Manufacturing Solutions, has its facility in the SEZ for manufacturing structural components for Boeing and Airbus. Air India Engineering Services Limited and AAR-Indamer have their MRO Facility in the SEZ. Dassault Reliance Aerospace Limited (DRAL) and Thales Reliance Defence System also have their manufacturing facilities in MIHAN. Pharmaceutical company Lupin also has its facility in the SEZ.

Apart from MIHAN SEZ the city has three prominent MIDC areas nearby. Prominent Industries located at various industrial areas are Indo Rama Synthetics, Gammon India Limited, KEC International, Calderys India, CEAT Tyres, Mahindra and Mahindra, Candico, Pix Transmissions, JSW Steel, ESAB India Ltd, Johnson Lifts, Sintex, Grindwell Norton, Berger Becker Coatings, Horiba India, RCCPL, Adani Wilmar, Mother Dairy, Air Liquide North India, Patanjali Foods, UltraTech Cement, Parker Hannifin, Elkem South Asia etc.

The city is also fast growing as a logistics hub and houses three Inland Container Depot, one each of Container Corporation of India, Distribution Logistics Infrastructure and Adani Logistics.

Owing to rich natural resources in the region, mining is a major activity. Several government organisations related to the mining industry are based in Nagpur, which includes Western Coalfields Limited (one of the eight fully owned subsidiaries of Coal India Limited), MOIL, Mineral Exploration and consultancy Limited and Indian Bureau of Mines.