Richest Cities Of India
With a national growth rate of more than 7 percent, Indian cities are the major contributors of the capital to the nation’s economy. Following are the top ten richest cities of India with respect of Gross Domestic Product (GDP).
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India is the third largest country in the world in terms of Purchasing Power Parity (PPP) with value of $9.49 trillion. With a national growth rate of more than 7 percent, Indian cities are the major contributors of the capital to the nation’s economy.
Following are the top ten richest cities of India with respect of Gross Domestic Product (GDP).
The capital of Maharashtra has an estimated GDP of $310 billion. The financial and commercial capital of country contributes more than 6 percent of nation’s GDP, 10 percent of factory employment, 60 percent of customs duty collection, and 30 percent of income tax collections. Mumbai is ranked sixth among the top ten cities with most billionaires; the city has presence of 28 billionaires.
Mumbai houses the headquarters of a large number of major Indian companies like Tata Group, Reliance Industries, Aditya Birla Group, Larsen & Toubro, Godrej Group, and Hindustan Petroleum among others. The city is also headquarters Reserve Bank of India, National Stock Exchange, and Bombay Stock Exchange.
The Indian capital has an estimated GDP of $293.6 billion. The service sector contributes more than 75 percent of Delhi’s economy. The largest cities in North India have one of the lowest unemployment rates in the country. Retail, information technology, telecommunication, hotels, media, banking, power, construction and real estate are key sectors which contribute to the city’s economy. Delhi is home to 18 billionaires.
The capital of West Bengal has an estimated GDP of $150.1 billion. Kolkata was the capital of British India and houses India’s oldest stock exchange. More than 83 percent of city’s population is employed in tertiary sector. Kolkata is the third richest city in South Asia after Mumbai and Delhi. Kolkata is house of many Indian corporations like Coal India Limited, ITC Limited, Britannia Industries, Allahabad Bank, National Insurance Company and United Bank of India among others. Kolkata is home to 4 billionaires.
The capital of Karnataka has an estimated GDP of $110 billion. Many biggest IT-firms are located in Bengaluru which earned this southern city the name ‘Silicon Valley of India’. Bengaluru contributes more than 35 percent of India’s IT exports. The city also houses some major manufacturing industries like Bharat Heavy Electricals Limited, Bharat Electronics Limited, and Bharat Earth Movers Limited among others. Infosys and Wipro have their headquarters in Bengaluru. The city is home to 8 billionaires.
The capital of Tamil Nadu has an estimated GDP of $78.6 billion. Chennai’s economy is driven by automobile, financial services, healthcare, software services and hardware manufacturing. The city contributes 14 percent in the country’s information and technology services making it second largest exporter in the IT and BPO sector. The city is home to 40 percent of India’s automobile industry which earned Chennai the nickname ‘Detroit of India’. The city is home to 4 billionaires.
The joint capital of Telangana and Andhra Pradesh has an estimated GDP of $75.2 billion. Hyedrabad is also known as ‘City of Pearls’ for its famous trading centre of pearls. More than 90 percent of city’s population is employed in tertiary sector. Hyedrabad contributes one third of India’s bulk drugs and 16 percent of biotechnology products which earned city the name of ‘India’s Pharmaceutical Capital’. The city is home to 6 billionaires. Major IT firms like Microsoft, IBM, Google, Samsung, Dell and others have presence in Hyedrabad.
The second largest city of Maharashtra has an estimated GDP of $69 billion. Pune is well known for its automobile industries and educational institutions. The automobile manufacturing, IT and BPO exporting are major contributors in the city’s economy. Automobile manufacturers like Volkswagen, Tata Motors, Mercedez Benz, Renault and others have presence in the city. Pune is home to 5 billionaires.
The largest city of Gujarat has an estimated GDP of $68 billion. The western city of India is also known as ‘Manchester of the East’ for its textile industry which is a major contributor to the economy. The city houses some of the major Indian companies like Zydus Cadila and Torrent Pharmaceuticals, Nirma Group, Adani Group among others.
Surat has an estimated GDP of $59.8 billion. The city is well known for its diamonds and textile industry. Surat is the largest diamond cutting and polishing hub in the world. Surat accounts 90 percent of the world’s diamond cutting and polishing exports. Major companies like ONGC, GAIL, Ambuja Cement, Ultratech Cement, Reliance Industries and others have a presence in the city.
Vishakhapatnam has an estimated GDP of $43.5 billion. The port city of Andhra Pradesh houses heavy industries like GAIL, Hindustan Shipyard, and Vishakhapatnam Steel Plant among others. The city has a presence of software, textiles, drugs and pharmaceuticals industry.