India's No. 1 Investment Destination: Delhi
Kiran | 21 Apr 2011
In a recent survey by the Asian Development Bank, Delhi has been ranked as a major destination for domestic and foreign investment - performing better than cities such as Mumbai and Bangalore.
Delhi has emerged as the most attractive city in the country for both foreign and domestic investors, according to a recent report by Asian Development Bank (ADB).
Greater Mumbai and Chennai follow Delhi as good metropolitan areas for investment. In a survey of 27 cities, the competitiveness factors evaluated were: people, catalysts, infrastructure and finance.
Delhi’s high quality of life, transportation infrastructure and cost effective labour force- both skilled and unskilled have contributed in a big way to the city’s economic growth, placing it at the top of the rankings in India.
The 2010 Commonwealth Games and infrastructure development as a result of this, such as the new airport terminal and the expansion of Metro rail network, are among the major factors contributing to Delhi’s rise to the No. 1 position.
In the report, the ADB ranked cities under five major categories: city prosperity index, urban governance, business environment, infrastructure index and quality of life. The overall ratings are based on these five comparatives.