Kolkata ranks 11th in 230-city survey of ‘global growth hubs’
Times of India | 29 October 2024
12 Kolkata: Kolkata has ranked as the 11th most promising city worldwide in a survey of rapidly expanding metropolises by 2033.
The city secured the coveted spot in an analysis by Savills Research, which scrutinised 230 cities based on economic indicators, demographic trends and affluence. Kolkata succeeded Bengaluru, Delhi, Mumbai and Hyderabad, among Indian cities, on the list as a prospective growth nucleus.
The study considered only those urban centres with a GDP surpassing $50 billion (nearly Rs 4 lakh crore) and, according to the findings, Kolkata is poised to experience a GDP growth exceeding 68% during the forecasted time frame.
CM Mamata Banerjee enthusiastically shared the news on X. She wrote: "Kolkata truly shines as a beacon of progress. Our city's journey beautifully reflects how tradition and modernity can coexist, and how development can go hand-in-hand with environmental consciousness. This recognition would not have been possible without the commitment and resilience of every Kolkatan..."
The Growth Hubs Index identifies the fastest growing major cities by 2033 based on a multitude of factors, including economic strength, personal wealth growth, population and migration growth, and population and future dependency ratio.
According to the Savills website, the data used in the analysis is derived from city-metro level information provided by Oxford Economics, while future credit ratings have been assessed at the country level. The study exclusively focuses on cities with a GDP of $50 billion or above in 2023.
Five Indian cities featured in the top 15 global growth hubs, underscoring the accelerating pace of urbanisation in the country. Bengaluru topped the list while Delhi secured the third position. Hyderabad ranked fifth and Mumbai was placed at eighth spot.