In the latest data released by Oxford Economics, Delhi has taken the place of Mumbai as the Economic capital of India. Mumbai ranks 31 in the 50 metropolitan economic cities, whereas Delhi is at 30, in the world as of 2015. The Oxford Economics is independent global advisory firm that reports, forecasts and provides analytical tools for 200 countries, 100 industrial sectors, and more than 3000 cities.
According to recent analytics, Mumbai extended urban agglomeration (EUA) consisting of Mumbai, Navi Mumbai, Thane, Vasai-Virar, Bhiwandi and Panvel had a GDP of US $368 Billion in 2015. An extended urban agglomeration is a city that has suburbs that are part of the municipal corporation and are linked directly to the city. Whereas the Delhi EUA consisting Delhi NCR, Gurugram, Faridabad, Noida and Ghaziabad have a GDP of $370 billion, securing its 30th position in Global Ranking. Mumbai makes up to Mumbai Metropolitan Region, whereas Delhi is smaller than National Capital Region.
The Future predictions by Oxford show Mumbai at a 14th position where as Delhi is projected at 11th Position by the year 2030. Mumbai’s High cost of living has been projected as the reason for this change. Maharashtra Chief Minister Devendra Fadnavis denied the notion of Delhi’s GDP being higher than Mumbai. He said “I want to challenge these figures. From figures of the Reserve Bank of India, Economic Survey of India and Maharashtra, it is evident that Mumbai is ahead in terms of GDP and financial status. The MMR GDP is higher.”
He also added that his government is framing policies make lands in MMR region affordable. “The government,” he said, “had worked towards creating a conducive atmosphere for attracting investments to the state.”
