On an international scale, we know India as the second largest country in terms of population, falling right behind China with 1.2 billion people. We also recognize it for its rich, diverse culture encased in a beautiful landscape, and for its incredible culinary culture – and perhaps some of us acknowledge India for bringing the world the Kama Sutra!
But India is also notable as the third richest country in the world with a GDP (PPP) of well over $5 trillion. Yet, this country also struggles with wealth inequality, gender inequality and city slums. According to data reported in 2010, over 68% of India’s population lives on less than $2 a day, and during the last decade over 28% of the country’s whole wealth was held by the top 10% of the population. India is home to some of the world’s wealthiest billionaires, and the country’s economy is expanding. The liberalization of India’s economy into a free market in the early ’90s has meant rapid growth for the country. But with less than a third of the country’s population living in urban areas – compared to about 80% of the population in America and the United Kingdom, for example – it’s reasonable to assume that a large volume of India’s wealth is concentrated over a small urban area. Whether it’s the country’s relatively minimal urbanisation, a rapidly growing economy or a significant wealth gap – or, a combination of all of these factors – the cities in India do account for a huge volume of the wealth. Let’s take a look at the most recent statistics available on the 10 richest cities in India, as per a Yahoo Finance India Report in 2011, ranked by PPP GDP.
10. Visakhapatnam- $26 billion
Visakhapatnam is primarily an industrial city where various heavy industries, steel plants, banking firms, and international informational technologies contribute to the economic growth. It’s also home to the country’s oldest shipyard and some of the largest seaports in India. The city is also referred to as the Jewel of the East Coast because of its location on the southeast coast of India.