Urban GDP set to rise at 70-75% in next 5 years
Updated: Sep 19, 2015 11:28:55am
New Delhi, Sept 19 (KNN) PHD Chamber of Commerce and Industry and PWC said in next 15 years, the populace in urban India is likely to touch an estimated figure of 590 million and its GDP contribution set to rise between 70-75 per cent in next five years. It urged the Centre not to delay urban planning in the context of Smart Cities.
“The urban GDP is projected to scale up between to 70-75 per cent by 2020 and that’s why the pace of urban planning needs to be accelerated at the required speed,” said President, PHD Chamber, Alok B Shriram.
In a paper on ‘Transforming Central Business Districts: Taking the Smart Route’, it has been pointed out that while the urban population in India is currently around 31 per cent of the total population which contributes close to 63 per cent of the country’s Gross Domestic Product (GDP).
Shriram added that according to current estimates, 360 million people constitute the urban India with its present GDP contribution pegged at 63 per cent, which according to the prognosis of the two organisations is likely to reach at levels of 590 million by 2030.
“It is for this reason that cities are referred to “as the engines of economic growth” and ensuring they function efficiently is critical to India’s development. The global experience is that a country’s urbanisation up to 30 per cent level is relatively slow. Thereafter, the pace of urbanization speed up till it reaches about 60-65 per cent,” said Shriram quoting findings of the paper.
By 2030, the population of urban India will almost be twice the population of present day of United States. Therefore, we need to plan our urban areas well without further delay, he said.
The paper further pointed out that with the GDP contribution of urban India set to rise from the present level of 63 per to 70-75 per cent in 2020, Central Business Districts (CBDs) will play an important role in fuelling India’s economic growth.
A CBD is dense area within a city which is characterized by high economic activity and is provisioned with adequate infrastructure and utilities to sustain this activity.
The economic character of a city is dominated by its CBDs. CBDs in metros play a key role in driving the economic growth of these cities and attract large segments of populations from rural and non-metro cities. To keep pace with exponentially increasing urbanization, rising business aspirations and high land rates, it is crucial for CBDs to get a facelift and cater to the evolving citizen and city requirements, it added. (KNN Bureau)
“The urban GDP is projected to scale up between to 70-75 per cent by 2020 and that’s why the pace of urban planning needs to be accelerated at the required speed,” said President, PHD Chamber, Alok B Shriram.
In a paper on ‘Transforming Central Business Districts: Taking the Smart Route’, it has been pointed out that while the urban population in India is currently around 31 per cent of the total population which contributes close to 63 per cent of the country’s Gross Domestic Product (GDP).
Shriram added that according to current estimates, 360 million people constitute the urban India with its present GDP contribution pegged at 63 per cent, which according to the prognosis of the two organisations is likely to reach at levels of 590 million by 2030.
“It is for this reason that cities are referred to “as the engines of economic growth” and ensuring they function efficiently is critical to India’s development. The global experience is that a country’s urbanisation up to 30 per cent level is relatively slow. Thereafter, the pace of urbanization speed up till it reaches about 60-65 per cent,” said Shriram quoting findings of the paper.
By 2030, the population of urban India will almost be twice the population of present day of United States. Therefore, we need to plan our urban areas well without further delay, he said.
The paper further pointed out that with the GDP contribution of urban India set to rise from the present level of 63 per to 70-75 per cent in 2020, Central Business Districts (CBDs) will play an important role in fuelling India’s economic growth.
A CBD is dense area within a city which is characterized by high economic activity and is provisioned with adequate infrastructure and utilities to sustain this activity.
The economic character of a city is dominated by its CBDs. CBDs in metros play a key role in driving the economic growth of these cities and attract large segments of populations from rural and non-metro cities. To keep pace with exponentially increasing urbanization, rising business aspirations and high land rates, it is crucial for CBDs to get a facelift and cater to the evolving citizen and city requirements, it added. (KNN Bureau)
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