17 Of Top 20 Fastest Growing Cities Will Be From India, Reveals Study
According to an Oxford Economics report, India cities will make up most of the fastest growing cities in the world between 2019 and 2035, considering the year-on-year Gross Domestic Product (GDP) growth. Diamond processing and trading hub, Surat in Gujarat will see the fastest expansion between 2019 to 2035. Reportedly, 17 out of the top 20 cities on the list will be Indian.
Indian cities to occupy top spots
Reportedly, Richard Holt, Oxford head of global cities and research stated that Gujarat will grow more than 9.17% than the other cities throughout the next 20 years, reported The Economic Times.
The report also includes that other Indian cities like Bengaluru, Hyderabad and Chennai are the other strongest contenders in the list. As per Business Insider, Indian cities occupies 17 over 20 top cities in the list. And the cities that managed to be in the top ten list are Surat (9.17%), Agra (8.58%), Bengaluru (8.5%), Hyderabad (8.47%), Nagpur (8.41%), Tirupur (8.36%), Rajkot (8.33%), Tiruchirappalli (8.29%), Chennai (8.17%) and Vijayawada (8.16%).
Economic output of Indian cities
However, the economic output in several Indian cities will prevail to be small when compared to the world’s biggest metropolises. But if we look at the other side, New York will continue to be the largest urban economy because of its increasing finance and business service sector. It is followed by Tokyo and Los Angeles securing second and third spot respectively.
As per Live Mint, Chinese cities will contribute more GDP than the other cities by 17 % higher by 2035. Reportedly the Oxford economics reveals that by 2027, the aggregate GDP of all Asian cities will outdo the combined GDP of all the North American and European cities. Moreover, between the period of 2019-2035, the cities will depict the growth of the global economy by an average of 2.6% a year.