There is evidence to believe that Aurangabad was developed as a trading hub four centuries ago. Aurangabad is the one the fastest developing cities in Asia. It tops the chart among the developing cities. It lies on a major trade route that used to connect north-west India's sea and land ports to the Deccan region. Recently Aurangabad was in news for placing single largest order for Mercedes Benz cars in a single transaction in India — 150 Mercedes Benz cars worth Rs 65 crore. Without a local Mercedes-Benz showroom and encountering an indifferent Mercedes-Benz dealer in the nearest city, a group of successful citizens pooled their orders and negotiated a record agreement with the firm.
Industry
The city as a major silk and cotton textile production centre. A fine blend of silk with locally grown cotton was developed as Himroo textile. Paithani silk saris are also made in Aurangabad. With the opening of the Hyderabad-Godavari Valley Railways in the year 1900 several ginning factories were started. After 1960, Maharashtra Industrial Development Corporation (MIDC) began acquiring land and setting up industrial estates. Aurangabad is now classic example of efforts of state government towards balanced industrialisation of state.
Major Industrial areas of Aurangabad are Chikhalthana MIDC, Shendra MIDC and Waluj MIDC. A new industrial belt namely Shendra - Bidkin Industrial Park is being developed under DMIC. The Maharashtra Centre For Entrepreneurship Development's main office is in Aurangabad. Many renowned Indian and MNCs have established themselves in the Industrial Estates of Aurangabad:
Aurangabad also has 5 star hotels like ITC Welcomgroup's The Rama International, The Ajanta Ambassador, The Taj Residency, The Lemontree (formerly The President Park), Vits (formerly Hotel Vedant), The Aures(Pride Biznotel)and the Aurangabad Gymkhana
Recently Aurangabad became the third city in Maharashtra (after Pune & Nashik) to host
