January 24, 2015
Study: Kolkata’s economic performance better than other major cities in India
Kolkata ranks 32 in performance among 300 world cities in the annual 2014 economic rankings of cities worldwide conducted by the Brookings Institution and JPMorgan Chase. It has left behind Mumbai, Hyderabad, Bengaluru and Chennai. The only better ranked city of India in the report is Delhi.
A study was conducted of world’s largest 300 cities, which accounted for almost half of global output in 2014. The report is based on two key economic indicators- annualised growth rate of real GDP per capita and annualised growth rate of employment. These indicators were combined into an economic performance index and the metros were ranked.
For India, 5 leading cities viz Delhi, Kolkata, Mumbai, Bengaluru, Chennai and Hyderabad were considered for the study. Except for Delhi, all cities are ranked below Kolkata.
- Kolkata has been ranked at 32 out of the 300 cities.
- The rank for other cities in India are – Delhi (18), Mumbai (52), Chennai (57) ,Hyderabad (76), and Bengaluru (87).
- Kolkata: The annualised growth rate of real GDP for 2013-14 is 2.5% and annualised growth rate of employment is 4.7%.
The table above shows the results of the study of Global Metro Monitor 2014 in respect of the 6 Indian cities.
The study commented, “These indicators matter because they reflect the importance that people and policymakers attach to achieving rising incomes and standards of living and generating widespread labour market opportunity.”