Mumbai, December 6: India is all set to overpower the fastest growing economies of the world in the coming years as most of the cities here, are rated amongst the fastest growing cities, a report by the Oxford Economics stated. Among the fastest, the Indian city that would witness multifold expansion in the near future, is Surat in Gujarat. Richard Holt, Oxford's head of global cities research, wrote in a report that through 2035, Surat, a diamond processing and trading centre in Gujarat will top the growth chart, averaging more than 9 percent. Delhi Ranked 6th Fastest Growing and Best Performing Metro City in the World.
The report further informs that the first ten cities that will see the fastest growth will all be from India. The cities include Surat, Agra, Bengaluru, Hyderabad, Nagpur among others. The report further informed that the economic output in many of the cities will remain small in comparison to the world's biggest metropolises. Mumbai is World’s 12th Richest City: List of Top 15 Wealthiest Cities Around The Globe.
However, the aggregated gross domestic product of all Asian cities will exceed that of all North American and European urban centres combined in 2027. “By 2035, it will be 17 per cent higher, with the largest contribution coming from Chinese cities”, the report added.
Reports inform that the fastest-growing African city is the Tanzanian port of Dar es Salaam, while the top spot in Europe is held by the Armenian capital of Yerevan, while San Jose, a proxy for Silicon Valley, will be the best performer in North America.
According to the report, New York, Tokyo, Los Angeles and London will defend their spots as Shanghai and Beijing are set to surpass Paris and Chicago. Meanwhile, China’s Guangzhou and Shenzhen in Southern China will also make the top 10, pulling off Hong Kong from the list. The report added saying that only little will change at the top list of the world's biggest cities between now and 2035.
In June, the World Bank had forecasted that India will regain its position as the world's fastest-growing major economy advancing 7.3 per cent this fiscal year and 7.5 per cent in the next two "as factors holding back growth in India fade.