Hyderabad, Vizag among Top 10 richest cities
Hyderabad in Telangana and Visakhapatnam in Andhra Pradesh are among the top ten richest cities in India, according to Yahoo Finance. The ranks are based on their estimated Gross Domestic Product (GDP) of 2016. GDP is the measure of market value of all finished goods and services produced during a particular time, say financial year or a calendar year.
Accordingly, Mumbai, the country’s commercial capital, has retained its top position with an estimated GDP of Rs 23.92 lakh crores followed by the administrative capital Delhi with Rs 19.04 lakh crores.
While Kolkata ranked third with Rs 9.75 lakh crore GDP, IT cities Bangalore and Hyderabad occupied fourth and fifth positions respectively with an estimated GDP of Rs 5.39 lakh crores and Rs 4.81 lakh crores.
Chennai, which used to be the King of South in every respect and the fourth most important city in the country, took the sixth slot with RS 4.29 lakh crore GDP. It has lost its pre-eminence due to the rise of Hyderabad and Bangalore.
Ahmedabad, with Rs 4.16 lakh crore GDP, occupies the seventh position, followed by Pune (No 8 – Rs 3.38 lakh crores); Visakhapatnam (No 9 – Rs 2.79 lakh crores) and Surat (No 10 – Rs 2.60 lakh crores).
The ten cities account for a total GDP of Rs 80.13 lakh crores.
Not surprisingly, these top ten are home to a majority of millionaires and billionaires in the country. According to Asia-Pacific Wealth Report – 2017, India is home to the fourth largest population of millionaires in the region.
