Hyderabad was historically known as a pearl and diamond trading centre, and it continues to be known as the City of Pearls. Main sectors contributing to the economic growth of Hyderabad are IT, real estate, pharmaceuticals and biotechnology industries. The growth of the financial services sector has helped Hyderabad evolve from a traditional manufacturing city to a cosmopolitan industrial service centre. It is home to more than 560 startups. Hyderabad is one of the leading destinations for real estate in South India.