India is soon becoming the hub of economics and growth
Well, you would believe your ears or not but the fastest growing cities in the world are from India. Be it in terms of population, finance, infrastructure, business, or technology, India has over the years become a hub for growth. Majorly, it is the economic boom that has fast-tracked the development of India across states. A closer analysis shows that the evolving income and better infrastructure are leading to increasing consumption and purchasing power in smaller cities. This in turn generates faster growth among these smaller cities. So here are a few of the fastest growing Indian cities in the world.
Surat
The city of Gujarat ranks number one on The Oxford Economics list. The state has an estimated average growth rate of 9.2 percent. It has been predicted that Surat may project a $2.7 billion in GDP in 2035. The city has a population of about 4.46 million and is counted among the eight largest urban areas in the country. It is also the largest diamond processing hub in the world, accounting for about 90 percent of the world’s diamond cutting and polishing exports. Not only this, but Surat is also famous for its textile industry -yarn production, weaving, processing, and embroidery. Some major domestic companies operational in Surat are ONGC, GAIL, Ambuja Cement, Ultratech Cement, and Reliance Industries.
Agra
Home to one of the Seven Wonders of the World, The TajMahal, Agra is second on the list of fastest-growing cities in India. The state is expected to grow by will grow at an average annual rate of 8.58 percent per year between 2019 and 2035. A popular city in Uttar Pradesh, Agra is thriving in its small-scale industry sector in the area of leather goods and iron foundries. In the aspect of tourism, the TajMahal brings about millions of tourists, both domestic and international, to its door adding to its economy. This has made the city a growing hub for hospitality, textile, automobile, and manufacturing. In fact, Agra is also home to India's first plant biotech company, Harihar Biotech.
Bengaluru
The third on the list is Bengaluru or Bangalore. The state has emerged as the information technology capital of India, hence also called the Silicon Valley of India. Famous technology and services giants, Goldman Sachs, Cisco, HP, Tata, Infosys, and Wipro, have their operations running base in the Silicon Valley.
The others on the list are Hyderabad, Nagpur, Tiruppur, Rajkot, Trichy, Chennai, and Vijayawada.
