India has the third-largest Purchasing Power Parity and the sixth-largest nominal GDP in the world (PPP). Its economy is also expanding at the quickest rate in the world, even outpacing China. Despite the devastating effects of the 2020 pandemic on global trade, India remained the world’s 14th- and 21st-largest exporter. There is no denying that India and its cities are expanding enormously in a variety of fields. The wealthiest cities in India in 2023 will be examined in more detail here.
Top 10 Richest Cities in India 2023
With a GDP of $606.625 billion, Mumbai, commonly known as the “city of dreams,” is the richest city in India. The 12th richest city in the world is also the financial center of India. The city is also home to numerous significant Indian businesses, including Tata, Reliance, and Aditya Birla Group, as well as the majority of the nation’s billionaires.
With media, financial institutions, and the real estate sector accounting for a significant portion of the city’s economy, Bollywood and the glamour industry are essential components of the city’s attractiveness. Many tourist attractions in Mumbai support the travel and tourism sector.
With an estimated PPP Metro GDP of $370 billion, Delhi—the capital of the nation and the city with the most inhabitants—is, to put it mildly, an affluent city. The city is the political center and the residence of several well-known politicians. Delhi has a storied political and cultural past that includes numerous sites of political significance and ancient history. This draws tourists from all around the world and from within the nation. Visits to this place are worthwhile because of the area’s reputation for delicious food and thriving markets.
The former capital of British India was Kolkata, which was once known as Calcutta. It is frequently referred to as the “city of joy” and comes in third place among the wealthiest urban areas in southern Asia. A GDP of 150.1 million is recorded for Kolkata. Several significant businesses, including Coal India and Britannia, are housed there.
The majority of the city’s residents work in the tertiary sector, and it is well-known for its financial and commercial hubs. And one cannot possibly resist its immensely well-liked and mouth-watering traditional sweets.
Bengaluru, often referred to as the Silicon Valley of India, ranks fourth among the richest cities in the country. It serves as Karnataka’s capital. It was given the moniker “Silicon Valley of India” as a result of its position as the nation’s top exporter of information technology (IT).
In addition, the city is home to the Kannada film industry and the headquarters of significant e-commerce websites like Myntra and Flipkart. There are 8 billionaires in Bengaluru, with a combined net worth of $320 billion. It is without a doubt one of India’s major cities with the greatest population growth.
In terms of the wealthiest cities, Chennai, the capital of Tamil Nadu, is ranked fifth. The city is well recognized for having the automobile sector as the foundation of its economy. Chennai, which has a thriving culture centered on Tamil traditions, also acts as a gateway for visitors from India and abroad to experience South Indian culture. Due to the city’s significant dominance in the automobile industry and its contributions to India’s IT industry, it is also reportedly referred to as the “Detroit of India.”
Hyderabad, which is in Telangana, comes in at number six on the list of wealthiest cities. The city of Hyderabad is the fourth most populated in the nation. The city is highly recognized for its scrumptious food, particularly its world-famous biryani, and for its incredibly rich culture.
Hindus make up the bulk of the city’s population, which is multilingual, and Muslims and Christians are the next largest religious groups. Due to the abundance of temples, mosques, and churches, the tourism sector is the foundation of the local economy. Hyderabad is well-known for its IT industry and its technological development.
Pune is India’s eighth-largest city and is situated in the state of Maharashtra. The country claims a 92 billion dollar GDP. Due to its vast selection of some of the greatest colleges and universities, Jawaharlal Nehru famously referred to Pune as the “Oxford of the East.” Students from all around the world come to study there. The city’s economy benefits from the tourism industry as a result of its cultural and historical diversity and plenty of well-known tourist sites.
With an estimated GDP of $68 million, Ahmedabad, the commercial center and largest city of Gujarat rank eighth among the richest cities. As the textile sector accounts for the majority of the city’s economy, it is also referred to as the “Manchester of the East.” Ahmedabad is a tourist destination that greatly benefits the local tourism industry because it is also culturally rich. A sizable collection of both contemporary and vintage textiles may be found in the Calico Museum of Textiles.
In Gujarat’s western state, Surat is a sizable city located next to the Tapi River. It is one of the cleanest cities in India and is home to significant textile businesses. Diamond markets are also centered there. This city is where 90% of the world’s diamond supply is cut and polished. The economy of Surat has grown significantly in recent years. In the years between 2019 and 2035, Surat will have the fastest growth, according to a recent Economic Times report.
Visakhapatnam, a port city in Andhra Pradesh, is the tenth wealthiest city in the country. It is Andhra Pradesh’s biggest and most populated city. The city is home to several large corporations and is a popular tourist destination because of its rich cultural history and stunning beaches.
Numerous educational institutions are also located there, including the National Institute of Oceanography, India, the Indian Institute of Management, the Andhra Medical College, the Andhra University, and others. It is also frequently referred to as the richest city in India and the financial center of Andhra Pradesh.