Why Hyderabad Is a Preview of India's Next Growth Cycle

HYDERABAD: The city that gave the world its vaccines now builds aircraft parts and the server farms behind the cloud. Hyderabad was once known for India's pharma hub, then became a global vaccine capital. Today, Adibatla builds aircraft structures for global defence majors, data centres power the cloud for millions, and DRDO labs, aerospace and spacetech plants and defence PSUs anchor a strategic manufacturing base.

India is now making the same transition."For three decades, the India story was about how much we consume. The next decade will be about how much we can build," says Pritam Deuskar, Founder & CIO, Wealthyvia Ventures LLP. "As global supply chains are redrawn, India is moving from assembling to engineering and from importing critical components to making them. The winners will be defined by capacity, technology depth and specialised manufacturing that is hard to replicate."

According to Deuskar, this transition is creating opportunities across Defence & Aerospace, Precision Manufacturing, Semiconductors, Electronics & PCB, Power Equipment, Data Centres and CDMO (Pharmaceuticals).Over the five years to June 2026, the Nifty India Defence index compounded at 56% a year, turning ₹1 lakh into roughly ₹9 lakh, against 15% for the Nifty 500. "That was only the first leg," says Deuskar. "In my view, these sectors have a long runway.

Four forces are converging: Europe's high energy and labour costs, America's deliberate shift away from China, India's deep engineering talent, and our reputation as a cost-efficient, trustworthy partner. The proof is already visible: by mid-2025, India-made phones were 44% of US smartphone imports, up from 13% a year earlier. The real opportunity lies in niche leaders: duopoly-like positions, high margins, repeat business, and global players who depend on them. In such companies, we believe earnings can compound at over 30% a year for the next four to five years.

That is where multibaggers are made." For investors, the takeaway is to look beyond the headline sectors and start identifying the companies quietly building the capabilities India will need next. That means tracking emerging niche leaders early, before their growth is fully reflected in valuations.