Economy of Delhi

Economy of National Capital Territory of Delhi

Connaught Place in New Delhi is an important economic hub of the National Capital Region.
Statistics
GDP ₹6.22 lakh crore (US$97 billion) (nominal GSDP of NCT; 2016-17 est.)[1]
$167 to $370 billion (PPP Metro GDP)[2][3][4]
GDP rank 13th (nominal GSDP; 2016-17 est.)
GDP growth
 13%[1] (nominal GSDP Y-o-Y growth, 2016-17)
GDP per capita
 ₹227,755 (US$3,600)
(nominal GSDP per capita; 2016)[1]
GDP per capita rank
 2nd
Labour force
 32.82% of the population (2005–06)
Unemployment 4.63% (2003)
Public finances
Revenues ₹42,616 crore (US$6.6 billion) (2017-18 est.)[1]
Expenses ₹48,000 crore (US$7.5 billion) (2017-18 est.)[1]

The economy of Delhi is the 13th largest among states and union territories of India. The nominal GSDP of the NCT of Delhi for 2016-17 was estimated at ₹6.22 lakh crore (US$97 billion) recording an annual growth of 13%. Growth rate in 2014-15 was 8.3%.[1] In 2015-16, the tertiary sector contributed 70% of Delhi's GSDP followed by the primary and secondary sectors with 16% and 14% respectively. The services sector recorded an annual growth of 7.5%, while the manufacturing and agricultural sectors grew at 20.3% and 1.2% respectively.[1]

Delhi is the largest commercial centre in northern India. As of 2016, recent estimates of the economy of the urban area of Delhi have ranged from $167 to $370 billion (PPP metro GDP) ranking it either the most or second-most productive metro area of India.[3][2][5][4]

Manufacturing

Manufacturing grew considerably as consumer goods companies established manufacturing units and headquarters in the city. Delhi's large consumer market and the availability of skilled labour has also attracted foreign investment. In 2001, the manufacturing sector employed 1,440,000 workers and the city had 129,000 industrial units.[6]

Services

Key service industries are information technology, telecommunications, hotels, banking, media and tourism.[7] Construction, power, health and community services and real estate are also important to the city's economy.[8]

Retail

Delhi has one of India's largest and fastest growing retail industries.[8]

Employment

As per the Economic survey of Delhi (2005–2006), Delhi's workforce constitutes 32.82% of the population, and increased by 52.52% between 1991 and 2001.[9] Delhi's unemployment rate decreased from 12.57% in 1999–2000 to 4.63% in 2003.[9] In December 2004, 636,000 people were registered with various employment exchange programmes in Delhi.[9] In 2001 the total workforce in national and state governments and the quasi-government sector was 620,000, and the private sector employed 219,000.[9]

The workforce participation rate for Delhi residents aged above 15 years was 40.8% in 2015-16, lower than the 41.8% recorded in 2012-13. Delhi's workforce participation rate is lower than the national average of 50.5%.[1]

References

  1. 1 2 3 4 5 6 7 8 "Delhi Budget Analysis 2017-18" (PDF). PRS Legislative Research. Retrieved 10 March 2017.
  2. 1 2 "Global city GDP rankings 2008-2025". PwC. Archived from the original on 4 May 2011. Retrieved 16 December 2009.
  3. 1 2 "Global city GDP 2014". Brookings Institution. Retrieved 8 May 2015.
  4. 1 2 Lewis, Clara. "Delhi, not Mumbai, India’s economic capital - Times of India". The Times of India. Retrieved 24 February 2017.
  5. ↑ "The Most Dynamic Cities of 2025". Foreign Policy. Retrieved 24 August 2012.
  6. ↑ "Chapter 9: Industrial Development" (PDF). Economic Survey of Delhi, 2005–06. Planning Department, Government of National Capital Territory of Delhi. pp. 94–107.
  7. ↑ "Industries in Delhi". Mapsofindia.com. Retrieved 7 September 2009.
  8. 1 2 "Delhi hot favourite retail destination in India – Corporate Trends – News By Company -News". The Economic Times. Retrieved 3 November 2008. Archived 7 October 2013 at the Wayback Machine.
  9. 1 2 3 4 "Chapter 5: Employment and Unemployment" (PDF). Economic Survey of Delhi, 2005–06. Planning Department, Government of National Capital Territory of Delhi. pp. 59–65.
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