Delhi moves ahead of Mumbai to become the economic capital of India, based on latest data from Oxford Economics showing the top 50 global metropolitan economic entities in 2015, where Mumbai has 31st rank and Delhi has 30th rank.
Latest data shows that the total gross domestic product (GDP) of Mumbai extended urban agglomeration (EUA) which includes Navi Mumbai Navi Mumbai, Thane, Vasai-Virar, Bhiwandi and Panvel, stood at $368 billion. In comparison, Delhi EUA, which includes Gurgaon, Faridabad, Noida and Ghaziabad, had a total GDP of $370 billion, bypassing Mumbai EUA by a margin of $2 billion.
Forecasts predict that by 2030, Delhi will have reached the 11th rank and Mumbai would be at rank 14.
Speaking to Times of India, Prof Bino Paul, Tata Institute of Social Sciences (TISS), said that post-liberalisation, Delhi NCR seems to have outpaced metropolitan Mumbai in physical infrastructure and social infrastructure which likely contributed to its rise.
“Perhaps, what makes Delhi NCR more buoyant and inspirational than Mumbai may be attributed to massive spatial consolidation and contentedness that have emanated from synchronisation between state and business, in particular in locating industry decisions,” Professor Paul was quoted as saying.