Holding the 31st position among the topmost economic entities of the world, the Mumbai City was playing the role of a strong entity as the top economic city in India. But the political capital is gradually emerging as the economic capital. World’s most independent global advisory firm, Oxford Economics, has recently submitted a report on the changing economy. This report includes some less-known (economic) facts of 200 countries, 100 industrial sectors, and over 3,000 cities. Mumbai Metropolitan now includes Thane, Mumbai, Navi Mumbai, Bhiwandi, Vasai-Virar, and Panvel; and the Delhi-NCR comprises New Delhi, Old Delhi, Ghaziabad, Noida, Faridabad, and Gurugram. The urban agglomerations of these cities, which are continuously growing, are not beyond our familiarity cover. But many few of us are aware of the GDP movements of both the cities.
GDP in 2015
Mumbai Metropolitan Region – 368 billion US dollar
National Capital Region – 370 billion US dollar
Per Capita GDP in 2015
Mumbai Metropolitan Region – 16,881 US dollar
National Capital Region – 15,745 US dollar
Delhi has outpaced Mumbai
Interestingly, the Oxford Economics report says, Delhi and Mumbai will move further up the economy list in the coming years. Delhi is predicted to be at the 11th spot in 2030 while the position for Mumbai is 14th. It is true as per the report presented by Tata Institute of Social Sciences in 2016. Delhi-NCR has outpaced Mumbai metropolitan in social, physical, and small business infrastructure, TISS report says. Can you believe us if we say that the business infrastructure of National Capital Region has outpaced Mumbai Metropolitan Region?
2. Social infrastructure
3. Business infrastructure
4. Purchasing capacity
5. Business space
Well, the Delhi NCR is more buoyant and inspirational than the former economic capital. Mumbai’s high-cost economy is less favorable to business. In addition to this, the Delhi-NCR now has an open dynamic urban space and a better purchasing power which are some of the prime elements of business growth. National Capital offers you a long range of lending options as the fin-tech industry have enlarged its wings throughout the city. If you are planning to start a small business, you must be looking for a small business loan. Delhi welcomes you with its widespread fin-tech firms. Delhi’s GDP has gone ahead of Mumbai. The TISS report also demonstrates that the MMR is slowly growing whereas the Delhi-NCR has a faster pace in this agenda. You will find this city ahead when it comes to the affordable housing and living standards.