Hyderabad sees fastest GDP growth; Chennai, Kolkata slowest

 

Hyderabad: Hyderabad has the fastest GDP per-capita growth rate of 8.7 in the Asia Pacific region, and third fastest in the world, according to a ranking of 300 largest metros from 2014 to 2016.

 

Only Dublin (Ireland) at 21.2 per cent and Chongquin (China) at 9.98 per cent grew faster than Hyderabad worldwide.

The Brookings analysis of Oxford economics data showed that Hyderabad ranked third across the world in terms of employment growth rate. The employment growth rate is higher only in Chengdu (China) and Manila (the Philippines).

Delhi as the world’s sixth fastest growing metro city and placed Hyderabad as the 14th fastest growing city in the Asia Pacific region. Chennai and Kolkata saw the slowest growth rate.

“Strong performers in India included Delhi and Hyderabad, with Delhi achieving the largest employment increase in the region (621,000) and Hyderabad boasting the fastest GDP per capita growth rate (8.7 per cent),” the report said.

While Hyderabad is among top 15 along with Delhi, it is followed by Surat at at 19th rank and Mumbai at 23rd. Bengaluru, Kolkata, Ahmedabad and Pune follow at 46, 59, 86 and 88th ranks respectively.

As per the report, the growth rate in employment in Hyderabad in 2014-16 was 5.4 per cent but the GDP per capita growth was highest, surpassing Delhi and Surat at 6.6 per cent and 7.9 per cent respectively. Chennai and Kolkata saw the slowest growth rate of 2.5 per cent in employment from 2014-16.  

The employment increase in Hyderabad was 3,43,500 at growth rate of 5.4 percent for 2014-15. However Mumbai added 4.70 lakh jobs at growth rate of 2.90 per cent.