India is growing as an economic powerhouse. Some of the major cities in India are also considered the richest cities owing to their flourishing industries, thriving economies and growing employment opportunities. In this article, we have listed the richest cities in India based on their Gross Domestic Product (GDP), investment, infrastructure, jobs opportunities, business environment and standard of living.
See also: Best cities to live in India
India’s richest cities: How are cities ranked by richness?
When evaluating a city’s economic prosperity and affluence, it is imperative to consider various factors that provide a comprehensive insight into its financial strength and growth potential.
- Gross Domestic Product (GDP): GDP serves as a fundamental economic indicator, quantifying the total monetary value of all goods and services produced within a specific region over a defined period. It plays a pivotal role in assessing a city’s economic vigour, productivity, and developmental trajectory. A high GDP underscores a robust economy, thus emerging as a critical criterion for ranking cities based on their wealth.
- Per Capita Income: Per capita income represents another vital metric, signifying the average earnings of each resident within a city. This statistic aids in gauging the standard of living and overall well-being of the city’s population. Cities boasting higher per capita incomes typically offer superior living standards, access to quality education and healthcare, and an enhanced quality of life – all contributing factors to the city’s overall affluence.
- Employment Opportunities: The presence and diversity of employment prospects hold significant sway over a city’s wealth. Cities characterised by thriving industries and a resilient job market attract skilled professionals, thereby fostering economic expansion and prosperity. A low unemployment rate, coupled with abundant opportunities across various sectors such as finance, technology, and manufacturing, is instrumental in assessing a city’s affluence.
- Infrastructure: The state of a city’s infrastructure plays a pivotal role in its growth and economic advancement. The quality and efficiency of transportation systems, utilities, and public services exert a direct influence on the city’s overall wealth and desirability. A well-developed infrastructure not only sustains existing industries but also entices fresh investments and businesses, thus fuelling economic progress and augmenting the city’s prosperity.
- Quality of Life: The overall quality of life within a city is a paramount facet of its affluence. This encompasses facets such as education, healthcare, safety, recreational amenities, and environmental standards. A high quality of life mirrors the city’s wealth and renders it an attractive destination for professionals, entrepreneurs, and tourists, thereby further bolstering its economic growth and prosperity.
- Business Environment: The conduciveness of the business environment in a city exerts a substantial impact on its affluence. A favourable business milieu, characterised by supportive government policies, minimal bureaucratic obstacles, and unhindered access to resources, serves as a magnet for investments and nurtures entrepreneurial endeavours.
List of richest cities in India
Check this list of the top 10 richest cities in India.
Mumbai
Mumbai is the financial and commercial hub of India, which has some of the prominent financial institution, including the Bombay Stock Exchange and several multinational corporations. The city has a flourishing infrastructure and industries. Moreover, Mumbai is home to some of the wealthiest individuals in the world.
Economy: Mumbai is leading among the cities in terms of GDP, contributing nearly 6.16% to India’s total GDP. The per capita income is also relatively higher than the national average.
Infrastructure: Mumbai has world-class infrastructural facilities, including an international airport, seaports, and a robust public transportation system, including the suburban railway and metro network.
Delhi
The national capital, Delhi, is one of the richest cities in India and offers a high standard of living. The city has a variety of industries, such as fashion, hotels, banking, real estate, tourism, telecommunications and IT.
Economy: Delhi contributes 4.94% to India’s GDP and has a high per capita income. Delhi’s strategic location as the administrative centre elevates its financial stature.
Infrastructure: The city ensures quality of life to its residents. It has a robust public transport system, such as metro network and an international airport, a well-developed road network, civic amenities and other modern facilities.
Bangalore
Bangalore is the hub of IT industries and regarded as the start-up capital of India. It is considered as one of the top richest cities in India. It has many upmarket neighbourhoods, such as Indiranagar and Koramangala, offering a premium lifestyle for its residents.
Economy: Bangalore has a GDP of $110 Bn, which is the highest in Karnataka. It contributes 1.87% to the nation’s GDP and has a high per capita income.
Infrastructure: Bangalore’s strategic location makes it a preferred destination for investors. Being a major IT hub, the city attracts working professionals. There are several IT parks, Grade A office spaces, and world-class infrastructure, including a metro rail network.
Hyderabad
Hyderabad is a Tier-1 city in Telangana. It is one of the richest cities in India, which attracts foreign investment owing to the presence of a thriving IT sector, pharmaceutical companies, and other industries, offering numerous employment opportunities.
Economy: Hyderabad has a GDP of $74 Bn and contributes 1.24% to India’s total GDP. The per capita income is around $3,380.
Infrastructure: Hyderabad provides a high standard of living to its residents. It has an international airport, a robust network of flyovers, expressways and upcoming metro projects.
Chennai
Chennai is one of the wealthiest cities in India, with a rich cultural heritage. Chennai is home to several IT parks and automobile manufacturing companies. There are hubs comprising IT and ITES companies, creating plenty of job opportunities.
Economy: Chennai has a GDP of $66 Bn, contributing 1.12% to the country’s GDP. The high per capita income reflects the good quality of life.
Infrastructure: Chennai is known for its quality healthcare infrastructure, which attracts medical tourists. It has an extensive road, rail and metro network. The city has some of the busiest ports, thus contributing to the country’s import-export trade.
Ahmedabad
Ahmedabad, the largest city in Gujarat, is popular for its flourishing textile, pharmaceutical and chemical industries. It is also known as the Manchester of India and is ranked among the richest cities in India. The city has witnessed rapid industrial and infrastructural development, contributing to the growth of its economic activities. It also has many industrial parks and special economic zones (SEZs).
Economy: Ahmedabad has a high per capita income and GDP of $47 Bn. It contributes 0.79% to the country’s total GDP. It is a major hub for trade and commerce, further boosting its economy.
Infrastructure: The city is witnessing modern infrastructural developments, including the Mumbai-Ahmedabad Bullet Train Project, and has an excellent transport system and an international airport.
Pune
Pune is a major city in Maharashtra, which has established itself as an educational and IT hub, offering ample of jobs and ensuring a high quality of life. It is one of the richest cities in India with a strong economy supported by various industries. Moreover, it attracts a large number of migrants, contributing to thriving economic activities.
Economy: With a GDP of 48 Bn, Pune contributes 0.81% to India’s GDP. The city has a high per capita income, reflecting the high standard of living.
Infrastructure: Pune’s strategic location and connectivity attract many investors. It has a well-developed transportation system and civic infrastructure.
Kolkata
Kolkata, the capital of West Bengal, is known for its rich cultural and literary heritage. Besides, it has several thriving industries including real estate, finance, retail, IT, steel, textiles and jute, contributing towards the overall economic growth of the country. The city has some of the major commercial, financial and business establishments.
Economy: Kolkata’s GDP is $63 Bn. The city contributes 1.05% to India’s GDP. The per capita income in Kolkata is around $1,600 on an average. It is home to a large number of high-income individuals.
Infrastructure: One of the richest cities in India, Kolkata offers a high quality of life. The city has a metro rail system, the first developed in India. It has many upscale residential localities, such as Alipore and Ballygunge and has a well-developed social infrastructure.
Surat
Surat, also called the Diamond City of India, is well-known in the world for its diamond cutting and polishing industry, thriving textile industry, contributing to the country’s economic growth.
Economy: Surat has a GDP of $40 Bn and contributes 0.68% to the total GDP of India. The city’s per capita income is one of the highest in India.
Infrastructure: Surat’s strategic location and infrastructure makes it a favourable destination for businesses, thus attracting investors. The city provides urban facilities and well-maintained public services to its people. It also focuses on improving digital infrastructure, solid waste management and renewable sources of energy.
Visakhapatnam
Visakhapatnam, located in the eastern part of Andhra Pradesh, is one of the richest cities in India. It is known for its thriving industries such as steel, petroleum, and information technology. Moreover, the city’s rich natural resources, such as bauxite reserves, contribute towards its economic growth.
Economy: Visakhapatnam a GDP of $26 Bn, contributes 0.44% to the total GDP of India. It has a strong industrial presence, one of the busiest ports that facilitate international trade and growing IT sector.
Infrastructure: Visakhapatnam has witnessed rapid infrastructural developments. The city offers a well-developed social infrastructure. Some of the upmarket residential areas are MVP Colony and Seethammadhara.
FAQs
Which is the richest city in India?
Mumbai is one of the top richest cities in India.
Why is Mumbai considered as the richest city in India?
The city is a home to some of the wealthiest individuals in the country and thriving finance, entertainment and IT industries.
Why is Delhi one of the richest cities in India?
Delhi's has flourishing industries, such as manufacturing, tourism, retail, banking and information technology, which makes it one of the richest cities in India.
Which industries contribute to the wealth of Bangalore?
Bangalore is known as a hub for IT companies and startups, thus creating ample job opportunities and contributing to the city’s economic growth.
Is Chennai among the richest cities in India?
Chennai is known for its healthcare, IT and automobile manufacturing sectors, which makes it one of the richest cities in India.
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