Delhi displaces Mumbai as India’s economic capital

Zee Media Bureau

Mumbai: Delhi is the new economic capital of India. Yes! Going by the latest data released by Oxford Economics, Mumbai is placed at number 31 among 50 top metropolitan economic entities globally in 2015, while Delhi is placed at number 30.

As per the latest analysis, the Delhi extended urban agglomeration (EUA) consisting of Delhi NCR, Gurgaon, Faridabad, Noida and Ghaziabad, had a GDP at PPP of $370 billion, taking it to 30th position in the global ranking.

While the Mumbai EUA consisting of Mumbai, Navi Mumbai, Thane, Vasai-Virar, Bhiwandi and Panvel, had a 2015 GDP of US $368 billion when seen in terms of purchasing power parity (PPP), using a 2012 PPP conversion rate of Rs 15.5 per dollar. 

The Oxford Economics forecast for 2030 shows that Indian metro cities Delhi and Mumbai will move further up on the list, with Delhi predicted to be at number 11,  and Mumbai at 14th spot.

As per experts, the fact that Delhi is closer to the national government for clearances, availability of infrastructure in the region adjoining Delhi, lower realty cost compared to Mumbai, may be some factors that have played in favour of Delhi turning it into the economic hub of the country.

Mumbai EUA, with a lower population, scores over Delhi EUA in per capita terms.

Oxford Economics is the world leader in global forecasting and quantitative analysis for business and government, and the most trusted resource for decision-makers seeking independent thinking and evidence-based research.