Hyderabad is the capital and largest city of the Indian state of Telangana and the de jure capital of Andhra Pradesh. It is situated on the Deccan Plateau along the banks of the Musi River, in the northern part of South India. With an average altitude of 542 metres, much of Hyderabad is situated on hilly terrain around artificial lakes, including the Hussain Sagar lake, predating the city's founding, in the north of the city centre. With an output of US$74 billion, Hyderabad has the fifth-largest urban economy in India.
In 2014, Andhra Pradesh was bifurcated to form Telangana and Hyderabad became the joint capital of the two states with a transitional arrangement scheduled to end in 2024. Since 1956, the city has housed the winter office of the President of India.
Relics of the Qutb Shahi and Nizam rules remain visible today; the Charminar has come to symbolise the city. By the end of early modern era, the Mughal Empire declined in the Deccan and the Nizam's patronage had attracted men of letters from various parts of the world. The amalgamation of local and migrated artisans had originated a distinctive culture, and the city emerged as a significant centre of oriental culture. Painting, handicraft, jewellery, literature, dialect and clothing are prominent still today. Through its cuisine, the city is listed as a UNESCO creative city of gastronomy. The Telugu film industry based in the city was the country's second-largest producer of motion pictures.
Hyderabad's central location between the Deccan Plateau and the Western Ghats, and industrialisation throughout the 20th century attracted major Indian research, manufacturing, educational and financial institutions. More recently the city has emerged as an Indian hub of pharmaceuticals and biotechnology. The formation of special economic zones and HITEC City dedicated to information technology has encouraged leading multinationals to set up operations in Hyderabad.
Recent estimates of the economy of Hyderabad's metropolitan area have ranged from US$40-US$74 billion (PPP GDP), and have ranked it either fifth- or sixth- most productive metro area of India. Hyderabad is the largest contributor to the gross domestic product (GDP), tax and other revenues, of Telangana, and the sixth largest deposit centre and fourth largest credit centre nation-wide, as ranked by the Reserve Bank of India (RBI). Its per capita annual income was ₹44,300 (US$620). The largest employers in the city were the state government (113,098 employees) and central government (85,155). The service industry remains dominant in the city, and 90% of the employed workforce is engaged in this sector.
Hyderabad's role in the pearl trade has given it the name "City of Pearls" and up until the 18th century, the city was the only global trading centre for diamonds known as Golconda Diamonds. Industrialisation began under the Nizams in the late 19th century, helped by railway expansion that connected the city with major ports. From the 1950s to the 1970s, Indian enterprises, such as Bharat Heavy Electricals Limited (BHEL), Nuclear Fuel Complex (NFC), National Mineral Development Corporation (NMDC), Bharat Electronics (BEL), Electronics Corporation of India Limited (ECIL), Defence Research and Development Organisation (DRDO), Hindustan Aeronautics Limited (HAL), Centre for Cellular and Molecular Biology (CCMB), Centre for DNA Fingerprinting and Diagnostics (CDFD), State Bank of Hyderabad (SBH) and Andhra Bank (AB) were established in the city. The city is home to Hyderabad Securities formerly known as Hyderabad Stock Exchange (HSE), and houses the regional office of the Securities and Exchange Board of India (SEBI). In 2013, the Bombay Stock Exchange (BSE) facility in Hyderabad was forecast to provide operations and transactions services to BSE-Mumbai by the end of 2014. The growth of the financial services sector has helped Hyderabad evolve from a traditional manufacturing city to a cosmopolitan industrial service centre. Since the 1990s, the growth of information technology (IT), IT-enabled services (ITES), insurance and financial institutions has expanded the service sector, and these primary economic activities have boosted the ancillary sectors of trade and commerce, transport, storage, communication, real estate and retail. As of 2020, the IT exports from Hyderabad was ₹128,807 crore (US$15 billion), the city houses 1500 IT and ITES companies that provide 582,126 employment.
Hyderabad's commercial markets are divided into four sectors: central business districts, sub-central business centres, neighbourhood business centres and local business centres. Many traditional and historic bazaars are located throughout the city, Laad Bazaar being the prominent among all is popular for selling a variety of traditional and cultural antique wares, along with gems and pearls.
The establishment of Indian Drugs and Pharmaceuticals Limited (IDPL), a public sector undertaking, in 1961 was followed over the decades by many national and global companies opening manufacturing and research facilities in the city. As of 2010, the city manufactured one third of India's bulk drugs and 16% of biotechnology products, contributing to its reputation as "India's pharmaceutical capital" and the "Genome Valley of India". Hyderabad is a global centre of information technology, for which it is known as Cyberabad (Cyber City). It contributed 15% of India's and 98% of Andhra Pradesh's exports in IT and ITES sectors and 22% of NASSCOM's total membership is from the city. The development of HITEC City, a township with extensive technological infrastructure, prompted multinational companies to establish facilities in Hyderabad. The city is home to more than 1300 IT and ITES firms that provide employment for 407,000 individuals; the global conglomerates include Microsoft, Apple, Amazon, Google, IBM, Yahoo!, Oracle Corporation, Dell, Facebook, CISCO, and major Indian firms including Tech Mahindra, Infosys, Tata Consultancy Services (TCS), Polaris, Cyient and Wipro. In 2009 the World Bank Group ranked the city as the second best Indian city for doing business. The city and its suburbs contain the highest number of special economic zones of any Indian city. The Automotive industry in Hyderabad is also emerging and making it an automobile hub. Automobile and auto-related companies such as Hyundai, Hyderabad Allwyn, Praga Tools, HMT Bearings, Ordnance Factory Medak, Tata Boeing Aerospace, Deccan Auto and Mahindra & Mahindra have units in the Hyderabad economic zone. Fiat Chrysler Automobiles, Maruti Suzuki and Triton Energy will invest in Hyderabad.
Like the rest of India, Hyderabad has a large informal economy that employs 30% of the labour force. According to a survey it had 40–50,000 street vendors. Among the street vendors four fifths are "stationary vendors" operating from a fixed pitch, often with their own stall. Most are financed through personal savings; only 8% borrow from moneylenders. Other unorganised economic sectors include dairy, poultry farming, brick manufacturing, casual labour and domestic help.
Hyderabad is rated Beta − by the Globalization and World Cities Research Network (GaWC) which evaluates and ranks the relationships between world cities in the context of globalisation. Beta level cities are cities that link moderate economic regions to the world economy.
Hyderabad was ranked #114 by the Nomad List which evaluates and ranks remote work hubs by cost, internet, fun and safety. Hyderabad has a population of over 6,809,970 people. Hyderabad also forms part of the wider Hyderabad metropolitan area which has a population of over 10,004,000 people.