The top 10 fastest growing economies in the world will be from India, a report published by Oxford Economics state. These are — Surat, Agra, Bengaluru, Hyderabad, Nagpur, Tiruppur, Rajkot, Tiruchirapalli, Chennai and Vijayawada, in a descending growth rate order that they are expected to achieve by 2035. Taking the yearly growth into account, the report predicts that Bengaluru will top these cities in terms of GDP in 2035. Bengaluru will touch $283 billion by that year. According to the Oxford Economics report, the fastest growing cities will be the growth drivers of the global economy and that Indian cities dominate the list, it is a sign of a shift in economic power from the West to the East, CNBC TV-18 said.
All of the world’s top 10 cities with the fastest-growing economies will be in #India https://t.co/3gfXHxVOjr #economics pic.twitter.com/lXybLISham
— World Economic Forum (@wef) May 21, 2019
Andhra Pradesh’s commercial capital, Vijayawada features on the 10th spot in the list and is expected to grow at a rate of 8.16% between 2018-35, according to The Oxford Economics report. Vijayawada is also set to touch down $21.3 billion by 2035, from the current $5.6 billion.
The software industry hub of India is all poised to become the city with the highest GDP in India at $283.3 billion.
Capital of Tamil Nadu, the city is a hub of auto, information technology, and healthcare sectors. Chennai is expected to witness a growth rate of 8.17% and its GDP will increase to $136 billion, up from $36 billion.
A city of southern state Tamil Nadu, Tiruchirapalli has many companies that deal in fabrication and engineering equipment. The city is expected to realize a GDP of $19 billion while its 2018 GDP stands at $4.9 billion.
The Gujarat city is expected to reach a GDP of $26.7 billion.
The Gujarat city is ranked number 1 on The Oxford Economics list with a growth rate of over 9%. It is also expected to touch down $126.8 billion figure by 2035.
The knit city of India will be growing at a rate of 8.36%. It ranks sixth on the list.
This Maharashtra city famous for orange production is set for a GDP increase of $48.6 billion by 2035.
With a whopping expected GDP of $201 billion by 2035, Hyderabad may be one of the leading growth drivers not only in India but also the globe.
The Taj Mahal city of Uttar Pradesh is ranked second on the list. It is projected to achieve a growth rate of 8.58% in the coming years.