Surat, Jaipur to be new metros by 2018 with Rs 800 billion household income


Surat, Jaipur to be new metros by 2018 with Rs 800 billion household income

India will see the rise of two new metros – Jaipur and Surat – by 2018, with a household income of over Rs 800 billion by 2018, according to an EY report titled ‘India’s growth paradigm: How markets beyond metros have transformed’.

These cities are projected to record real GDP growth of 8.7% and 10.3% respectively from 2015-20, relative to metros’ 8.3%. As a result, both cities will cross the Rs 800 billion threshold within one to two years, with total consumption levels to reach 75%-80% of metros like Pune and Ahmedabad.

The report also identifies 42 new-wave markets, which are expected to grow at 8.9% as compared to the 8 metros that are expected to grow at 8.3% CAGR in the 2015-20 period.  Read more

Credits: economictimes.indiatimes.com

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