by THO
Five Indian cities including Bengaluru, Delhi, Mumbai, Hyderabad and Pune will be among the top 15 fastest-growing urban centers by 2033, according to Savills Growth Hubs Index.
The Index focuses on how cities in Asia, particularly India, are poised to outpace their global counterparts through rapid urbanization, robust economic growth, and technological innovation.
India emerges as a significant player in global urban development, with cities like Bengaluru, Delhi, Mumbai, Hyderabad, and Pune leading the charge. These cities flourish through an interplay of the services sector, a resurging manufacturing base, and demographic advantages driven by a young and educated workforce, it noted.
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Bengaluru tops the Growth Hubs Index as a global leader, recognized for its thriving tech ecosystem and projected high GDP growth per capita. Delhi, on track to become the world’s most populous city by 2050, is a magnet for migration and economic activity.
Mumbai, India’s financial capital, anchors the nation’s global trade and investment aspirations, the report noted.
Hyderabad and Pune are witnessing remarkable growth in technology, life sciences, and advanced manufacturing sectors, it noted.
The Growth Hubs Index
The Index evaluates 230 cities worldwide based on parameters such as GDP growth, personal wealth expansion, population dynamics, and future economic resilience. Among the critical factors contributing to urban growth are economic growth as Indian cities are forecasted to witness a GDP surge of over 68% by 2033.
Personal wealth is an important factor as rising disposable incomes and a burgeoning middle class will drive consumption and investment.
India’s growth story is fueled by the government’s focus on infrastructure development, a simplified tax regime, and policies promoting industrial resurgence.
With only 35% of the population living in urban areas, continued migration from smaller towns and rural areas is expected to drive urban expansion, as per the Index.
The government’s infrastructure push, including metro expansions, highways, and smart cities initiatives, is transforming urban landscapes. By 2030, nearly 96 million sq. ft. of new life sciences real estate is expected, catering to emerging industries, it noted.
