India's 10 fastest growing cities A lot has been said about India's robust economic growth with economists predicting a bright future for the country. But few know of the booming Indian cities that are adding to the nation's growth. So which are the country's fastest growing cities?
Surat is Gujarat's second largest city with a population of 4 million. It is the fastest growing Indian city in terms of economic prosperity. The city has registered an annualised GDP growth rate of 11.5 per cent over the past seven fiscal years, according to the data compiled by economic research firm Indicus Analytics. Known for its thriving diamond and textile industry, Surat is situated on the banks of the Tapti river. More than 90 per cent of world's diamonds are cut and polished here. These two industries have largely contributed to the city's growth as the economic powerhouse of India. Though often affected by floods and earthquakes, the city has always come out on top. Improved infrastructure has been key to Surat's rapid rise. A number of elevated roads and flyovers have facilitated the thriving diamond and textile business of the city. The city's Varachcha flyover is claimed to be India's longest. Surat with its low unemployment rates, high job rates and one of the highest per capita small business credit is the top destination for jobs and business. It is said that if you want to make money, Surat is the place to be in. SURAT Growth rate: 11.5%
What was knows as the Pensioners' Paradise 10 years back, has grown 10-fold today and a study reveals that the rupee millionaire club in Karnataka's capital is the most crowded in India. Bangalore also boasts of having the largest number of households with an annual income of Rs 10 lakhs (Rs 1 million) or more. With an estimated population of 6.5 million, Bangalore is one of India's most populous cities. How has this city which was more famous for its gardens and laidback lifestyle changed so much in character? The two reasons that come to every Bangalorean's mind are: the advent of the IT industry, and subsequently the boom in real estate prices. Unlike other cities in India, Bangalore's main activity is information technology and information technology-enabled services. Being the leading contributor to India's IT industry, the city is often referred to as the Silicon Valley of India. Software majors Infosys and Wipro being headquartered in the city, Bangalore contributed 33 per cent of India's Rs 144,214 crore ($ 32 billion) IT exports in 2006-07. Businesses involving large corporates that are either multinational companies or Indian firms dealing with or catering to MNCs employ a very large workforce in Bangalore. And although the city's infrastructure has been unable to keep pace with the rapid growth of the city, Bangalore still remains one of India's boom towns. BANGALORE Growth rate: 10.3%
The Ahmedabad region, including Gandhinagar, of Gujarat is the largest inland industrial centre in western India and has been an important base of commerce, trade and industry. With a population of 56 lakh (5.6 million) Ahmedabad has seen great prosperity because of its proximity to Surat and its access to the hinterland of Gujarat. Though dusty roads and bungalows used to dot the city once, Ahmedabad is now witnessing a major construction boom and an increase in population. In recent years, the city has seen a significant rise in information technology and scientific industries. Apart from these, chemicals and pharmaceutical industries contribute to the state's economic growth, with two of the biggest pharmaceutical companies of India -- Zydus Cadila and Torrent Pharmaceuticals being based here. Ahmedabad also forms the corporate headquarter of the Nirma group of industries and Adani group. Of late, many foreign companies have set up their units here. Among them, Bosch Rexroth of Germany, Stork and Rollepaal of Netherlands deserve special mention. AHMEDABAD Growth rate: 10.1%
The commercial capital of India is one of the world's top ten trade centres. The city contributes 25 per cent of industrial output and 70 per cent of capital transactions to India's economy. The city accounts for about 1 per cent of the total population in India but has a per capita income which is almost three times that of India. Mumbai accounts for 14 per cent of India's income tax collections and 37 per cent of the corporate tax collections in the country. The city is the berth of significant financial institutions like the Reserve Bank of India, Bombay Stock Exchange and the National Stock Exchange of India. One of the largest special economic zones in India is being set up in Navi Mumbai, to be spread over an area of around 50 square kilometers. Numerous corporates and multinational companies have their headquarters in the city that attracts migrants from all over India. The city offers countless employment opportunities and is known for its interesting and high standard of living. The city, with a population of 19 million, is also known as the Indian seat of entertainment as it is the home to the Hindi film industry, the largest in the world. Most of the city's inhabitants rely on public transport to commute. Transport systems in Mumbai include the Mumbai suburban railway, also known as the lifeline of Mumbai, BEST buses, taxis and auto rickshaws. MUMBAI Growth rate: 8.5%
Though it can't rival Mumbai in terms of contribution to the growth of the Indian economy, the capital of India, is no pushover. Delhi's, (including its nine districts and adjoining Noida, Ghaziabad, Faridabad and Gurgaon) total GDP stood at Rs 1,60,739 crore (Rs 1,607.39 billion). It contributes 4.94 per cent to all-India GDP. Connaught Place, one of northern India's largest financial centres, is located in the heart of Delhi. Being an important commercial centre in South Asia, Delhi has a per capita income of Rs 53,976, which is more than double the national average. Delhi's key service industries, backed by as strong and well laid out infrastructure, include IT, telecommunications, hotels, banking, media and tourism. In recent times, Delhi's manufacturing industry has grown considerably and consumer goods industries have established manufacturing units and headquarters in and around the capital. Construction, power, telecommunications, health and community services, and real estate form the backbone of Delhi's economy. The capital's retail industry is one of the fastest growing industries in India. Public transport in Delhi consists of buses, auto rickshaws, taxis, suburban railways and metro rail. NEW DELHI Growth rate: 8.4%