India dominates globally! Sweeps in top 10 of world’s fastest-growing cities with Surat clinching top spot

NewsBharati    07-Dec-2018
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New Delhi, December 7: India has been performing exceptionally well in the business sector with growing investment, infrastructure and escalating the economic stature. Growing at an irreversible rate, India positions itself globally by sliding up 10 cities which are fastest growing cities in the world. Topping the list with number one position is Surat with an increasing GDP of 9.17% making it the fastest growing city globally.

 

According to Oxford Economics, a UK based research organisation, has concluded in its latest report that by 2035, 17 of the top 20 fastest growing cities in the world will be from India. The report suggested that comparing the GDP growth rate changes the complete story which highlights 17 of the 20 fastest-growing cities in the world between 2019 and 2035 will be Indian, with Bengaluru, Hyderabad and Chennai among the strongest performers.

With the industrial city of Surat dominating the list, the famous centre for commerce will be followed by Agra (8.58%), Bengaluru (8.5%), Hyderabad (8.47%) and Nagpur (8.41%). You can see the list below.

Focussing on Surat, the city comprises of rich entrepreneur tradition mainly based on diamond, textiles, construction and strong IT industries. Along with this the city inherits a plethora of informal working opportunities which drags migrants comprising 70% of the city residents.

Besides, cities like Bengaluru, Chennai and Hyderabad are leading the way with their growing tech-driven startup ecosystem. They have also become major tech, manufacturing and financial services hubs.

Outside of India, Phnom Penh is the fastest-growing city in the world in the 2019-2035 forecast, with Dar es Salaam the leader among African cities. Highlighting a global scenario, Richard Holts, head of global cities research at Oxford Economics, suggested that by 2035, the combined GDP of Indian cities will still be very small compared with Chinese (or indeed, North American and European) cities. However, in terms of GDP growth, it is Indian cities that are the star performers in our forecast.