India: Many Nashikities benefit from produce trade
Nashikities seem to be raking in the moolah despite the slack in overall economy over the past coupl…Nashikities seem to be raking in the moolah despite the slack in overall economy over the past couple of years. The city which is likely to be included in the Centre's smart cities project has 45 crorepatis, who have declared an annual income above Rs 1 crore in the last fiscal.
Sources from the Income Tax (IT) department told TOI that as per the IT returns filed for the financial year 2013-14, there are a total of 150 firms and individual persons in the district with an annual income of over Rs 1 crore ($157,508.96USD).
The predominantly agro-based economy of the region is complimented by the presence of the automobile and electrical industries in the Maharashtra Industrial Development Corporation (MIDC) industrial estates. The region has the country's largest onion wholesale market and is also the hub of grape cultivation in the state and country.
The last date for filing the returns for the financial year 2014-15 is July 31. The figures of individuals with annual income over Rs 1 crore would be available thereafter.
The Lasalgaon Agriculture Produce Market Committee is Asia's largest wholesale market with daily auction of close to 15,000-20,000 quintals. Of total onion export from the country, 80% of total onion export comes from Nashik.
Grape plantation in Nashik is close to 1.5 lakh acres with productivity of 10 metric tonnes per acre. The industries in Nashik are based on engineering and electric industries. Of 4,000 small, medium and large industrial units in the district, there are around 200 medium and large industries in the district.