With the dream of becoming a superpower soon, the Indian economy is growing rapidly from the last few decades. Indian economy ranked 6th on the list of top economies in the world, India has overcome many obstacles in the last few years with its emerging industries.
India has the purchasing power parity (PPP) value of over 9 trillion which is the third-highest among the countries. Cities of India have always played a major part in the national economy as the National Growth Rate is more than 7 percent.
Below is the list of the richest cities in India according to their Gross Domestic Product (GDP) that are playing an important role in making India a developed country.
Mumbai, the capital of Maharashtra is the richest city in India with a GDP of over $310 billion. It is also known as the financial capital of India and contributes around 6 percent in the nation's GDP, over 10 percent of factory hiring, 60 percent collection of customs duties and around 30 percent of income tax collection.
Mumbai also comes at 6th place in the list of top ten cities with maximum billionaires as it has around 28 billionaires including the richest man in India 'Mukesh Ambani'
Mumbai also has the head office of many large corporations like Reliance group, Larsen & Toubro, Tata group, Aditya Birla group, Hindustan petroleum and Godrej group.
Government bodies like RBI (Reserve Bank of India) and NSE (National Stock Exchange) also have their head offices in Mumbai.
Delhi, the capital of India is the second richest city in India with a GDP of over $293 billion. It has the lowest unemployment rate in India. Over 75 percent of Delhi's economy is influenced by the service sector. Major sectors that are influencing the economy of Delhi are real estate, banking, hotels, IT (information technology), construction, power, media, and retail.
Delhi has around 18 billionaires
Kolkata is known to be the capital of West Bengal with a GDP of over $150 billion, which makes it the third richest city in India. It was also the capital of British India and it also has India's oldest stock exchange. Most of the population of Kolkata is employed under the tertiary sector. Corporations like Coal India ltd., ITC ltd., the united bank of India, Allahabad Bank, Britannia groups and National Insurance Company are also situated in Kolkata.
There are 4 billionaire in the Kolkata.
Having an estimated GDP of $110 billion, Bengaluru is the fourth richest city in India. This state is also known as the 'Silicon Valley of India' as it is the hub for many IT companies and big organizations. It also influences almost 35 percent of India's IT exports.
Companies like Wipro and Infosys have their head offices in Bengaluru. Many manufacturing companies like Bharat Heavy Electricals Ltd., Bharat Electronics Ltd., and Bharat Earth Movers Ltd. are also situated there.
Bengaluru is the home for 8 billionaires.
With an estimated GDP of $78 billion, Chennai is the fifth richest city in India. Hardware manufacturing, financial services, automobile, and healthcare contribute the most to Chennai's economy. Being the second-largest exporter in IT as well as the BPO sector it provides almost 14 percent to the country's IT services.
Chennai is also known as 'Detroit of India' because 40 percent of the automobile companies are there. 4 billionaires live in Chennai.
Hyderabad is known as the 'City of Pearls' because of its famous trading center or pearls. With an estimated GDP of $75 billion, this joint capital of Telangana and Andhra Pradesh is the sixth richest city in India.
Almost the whole population of this state is indulged in the tertiary sector. By contributing over 16 percent to biotechnology Hyderabad is called the Pharmaceutical capital of India. Major IT industries like IBM, Samsung, Microsoft, and Google also have their offices in this state.
6 billionaires live in Hyderabad.
Having a GDP of over $69 billion, this beautiful city of Maharashtra comes at the seventh position. Pune is very famous for its educational institutes and automobile companies; they are also the major contributor to the city's economy.
Companies like TATA Motors, Mercedes Benz, Volkswagen and many more are manufactured in Pune.
This city is located in Gujarat and has an estimated GDP of $68 billion. Textile companies are the main contributors to the city's economy and hence it is also known as 'Manchester of the East'.
Big corporations like the Adani group and the Nirma group are also present in Ahmadabad.
Surat is very famous for its diamond and textile industries. Having an estimated GDP of $60 billion Surat comes at the ninth position in the list of richest countries of India. Companies like Ultratech and Ambuja cement have their head offices here.
This city has an estimated GDP of $43 billion. It is also known as the port city of India and many industries like Hindustan Shipyard and GAIL are also present in this city.