A  lot has been commented about India’s vigorous economic growth with economists forecasting a bright future for the country. But some know of the growing Indian cities that are feeding to the nation’s growth. So which are the country’s fastest growing cities? Read on to find out.

SURAT - Growth rate 11.5% - Surat is Gujarat’s 2nd biggest city with a population of 4 million. It is the fastest growing Indian city in terms of economic prosperity. The city has met an annualized GDP growth rate of 11.5 % over the past 7 fiscal years, as per the data computed by economic research firm Indicus Analytics. Popular for its thriving diamond and textile industry, Surat is located on the banks of the Tapti River. Over 90 % of world’s diamonds are cut and shined here. These 2 industries have hugely shared to the city’s growth as the economic powerhouse of India.

BANGALORE - Growth rate 10.3% - What was knows as the Pensioners’ Paradise 10 years back, has emerged 10-fold now and a study states that the rupee millionaire club in Karnataka’s capital is the most crowded in India. Bangalore also boasts of owing the largest number of households with an annual income of Rs 10 lakhs (Rs 1 million) or more. With an estimated population of 6.5 million, Bangalore is 1 of India’s most populous cities. How has this city which was more popular for its gardens and laidback lifestyle modified so much in character? The 2 reasons that come to every Bangalorean’s mind are: the start of the IT industry, and subsequently the boom in real estate prices. Unlike other cities in India, Bangalore’s main activity is information technology and information technology-enabled services. Being the prominent contributor to India’s IT industry, the city is always referred to as the Silicon Valley of India. Software majors Infosys and Wipro being headquartered in the city, Bangalore contributed 33 % of India’s Rs 144,214 crore ($ 32 billion) IT exports in 2006-07. Businesses comprising large corporate tehat are either multinational companies or Indian firms dealing with or serving to MNCs recruit a very large workforce in Bangalore. And although the city’s infrastructure has been unable to stay pace with the fast growth of the city, Bangalore still remains one of India’s boom towns.

AHMEDABAD - Growth rate 10.1% The - Ahmedabad region, comprising Gandhinagar, of Gujarat is the biggest inland industrial centre in western India and has been a significant base of commerce, trade and industry. With a population of 56 lakh (5.6 million) Ahmedabad has kept great prosperity because of its proximity to Surat and its access to the hinterland of Gujarat. Though dusty roads and bungalows used to cover the city once, Ahmedabad is now evident a major construction boom and a rise in population. In recent years, the city has seen an important rise in information technology and scientific industries. Apart from these, chemicals and pharmaceutical industries share to the state’s economic growth, with 2 of the biggest pharmaceutical companies of India — Zydus Cadila and Torrent Pharmaceuticals being based here. Ahmedabad also forms the corporate headquarter of the Nirma group of industries and Adani group. Of late, several foreign companies have plan up their units here. Among them, Bosch Rexroth of Germany, Stork and Rollepaal of Netherlands deserve valuable mention.

MUMBAI - Growth rate: 8.5% - The commercial capital of India is one of the world’s top 10 trade centers. The city aids 25 % of industrial output and 70 % of capital transactions to India’s economy. The city response for about 1 % of the total population in India but has a per capita income which is almost 3 times that of India. Mumbai accounts for 14 % of India’s income tax collections and 37 % of the corporate tax collections in the country. The city is the berth of important financial institutions like the Reserve Bank of India, Bombay Stock Exchange and the National Stock Exchange of India. One of the biggest special economic zones in India is being set up in Navi Mumbai, to be sprawl over an area of around 50 square kilometers. Many corporate and multinational companies have their headquarters in the city that earns migrants from all around India. The city provides countless employment opportunities and is famous for its interesting and high standard of living. The city, with a population of 19 million, is also called as the Indian seat of entertainment as it is the home to the Hindi film industry, the biggest in the world. Most of the city’s inhabitants depend on public transport to commute. Transport systems in Mumbai comprise the Mumbai suburban railway, also known as the lifeline of Mumbai, BEST buses, taxis and auto rickshaws.

NEW DELHI - Growth rate: 8.4% - Though it can’t match Mumbai in terms of contribution to the growth of the Indian economy, the capital of India, is no pushover. Delhi’s, (comprising its 9 districts and adjoining Noida, Ghaziabad, Faridabad and Gurgaon) total GDP stood at Rs 1,60,739 crore (Rs 1,607.39 billion). It shares 4.94 % to all-India GDP. Connaught Place, one of northern India’s biggest financial centres, is situated in the heart of Delhi. Being a vital commercial centre in South Asia, Delhi has a per capita income of Rs 53,976, which is more than double the national average. Delhi’s main service industries, supported by as strong and well laid out infrastructure, add hotels, banking, IT, telecommunications, media and tourism. In recent times, Delhi’s manufacturing industry has emerged considerably and consumer goods industries have established manufacturing units and headquarters in and around the capital. Construction, health, power, telecommunications, community services, and real estate form the backbone of Delhi’s economy. The capital’s retail industry is 1 of the fastest growing industries in India. Public transport in Delhi includes buses, auto rickshaws, taxis, suburban railways and metro rail.

HYDERABAD - Growth rate: 7.8% Hyderabad, the financial capital of Andhra Pradesh, is also called as the city of pearls. With an estimated population of 7 million, the city is the biggest contributor to Andhra Pradesh’s gross domestic product, state tax and excise revenues. As per 2006 statistics, the per capita income of Andhra Pradesh was at Rs 25,625 (less than Rs 200 of national average). The city, which utilized to be primarily a service city, is presently the seat of several businesses, adding trade, communication, transport, commerce, storage, and lately IT. Like Bangalore, Hyderabad also has witnessed a real estate boom in recent times, mainly because of the growth of IT and retail business in the city. Major pharmaceutical companies such as Dr Reddy’s Laboratories, Matrix Laboratories, Aurobindo Pharma Limited and Vimta Labs are landed here. Hyderabad has also done considerable results in the field of bio-technology through initiatives like Genome Valley and Nanotechnology Park. For the advancement of infrastructure in the city, the Andhra Pradesh government is building a skyscraper business district at Manchirevula

PUNE - Growth rate: 7.4% - The growth of this major industrial city, situated roughly 150 km east of Mumbai, has turned the topic of discussion these days. Right from automobile majors such as Tata Motors, DaimlerChrysler, Pune will soon house units of international biggies such as General Motors, Volkswagen, Fiat, et cetera. A number of significant engineering goods industries like Cummins Engines Co Ltd and Bharat Forge Ltd, electronic goods companies like LG, Whirlpool, food companies like Frito Lay and Coca Cola are also put here. Of late, Pune’s software industry has grown by leaps and bounds. IT parks like Rajiv Gandhi IT Park at Hinjewadi, Magarpatta Cybercity, MIDC Software Technology Park at Talawade, Marisoft IT Park at Kalyani Nagar are seats of technology that the city can boast of. To face the demands of this explosive economic growth in Pune, the state of Maharashtra is planning a 1,000 MW power plant to uniquely service to the requirement of Pune. MIDC is the lead agency for the project.

BARDHAMAN - Growth rate: 6.6% - Located nearly 100 km north-west of Kolkata, Bardhaman is headquarter of the district of the same name. With about 58 % of the population gaining their livelihood from agriculture, Bardhaman has received the name of ‘granary of West Bengal’. Rice grown in the area is supplied to different parts of India and also exported to the neighboring countries. Though predominantly an agricultural area, Bardhaman also houses a number of industries supported mainly by rich mineral sources available in the area and also imported from the neighboring Indian states of Bihar, Orissa and Assam. The industrial belt of Bardhaman has mainly developed embracing the Asansol and Durgapur sub-division. 2 most pioneer industrial units of the area are Durgapur Steel Plant and Durgapur Alloy Steel Plant. Other industries that thrive in the area consisting coal-based industries, chemicals and power plants. The Damodar Valley Project has gone a long away in getting the irrigational need of the region. Indian Iron and Steel Industry (IISCO) form the economic backbone of Asansol area. It is the oldest pig iron and iron casting unit in India. Chittranjan Locomotive, a government undertaking, supplies locomotive parts all around India. Many cottage industries have also developed in the area that support the area’s rural economy.

KOLKATA - Growth rate: 6.3% - Often termed lovingly as the cultural headquarter of India, the capital of West Bengal has a population of 5 million. Like its several other metropolitan cousins, Kolkata incurred from economic stagnation in post-independence India. However, since 2000, the city has evidenced an economic rejuvenation, thanks to the development of IT industry in Rajarhat in Greater Kolkata. The city’s IT sector is developing at 70 % annually – double that of the national average. The city has seen a surge of investments in the housing infrastructure sector. Many new projects have come up in recent times. Some reputed companies are headquartered here. Of them, ITC Limited, Birla Corporation, Bata India, Domodar Valley Corporation deserves special mention. Opening of the Nathu La in Sikkim as a trade route has put Kolkata in an beneficial position. Like other metropolitan cities of India, Kolkata continues to struggle with problems such as poverty, pollution and traffic congestion.

CHENNAI - Growth rate: 6.2% - The capital of Tamil Nadu, the 4th largest metropolitan city in India, has an estimated population of 7.5 million. The economy of the city is aided by industries like automobile, technology, hardware manufacturing, and healthcare. As per recent report in The Hindu, economists have forecasted that Chennai’s per capita income would rise from $468 in 2000 to $1149 in 2015 and $17,366 in 2050. The city houses India’s major automobile companies and happens to be India’s second-largest exporter of information technology and information-technology-enabled services, after Bangalore. Buses, trains, and auto rickshaws are the most general form of transport within the city. To counter traffic congestion, the state government of Tamil Nadu is building a number of flyovers at significant intersections.

Source: India Online