Delhi pips Mumbai as most competitive city to attract capital, biz

Mumbai: Delhi has been named the most competitive city in India for its demonstrated ability to attract capital, business, talent and tourists by a new Economist Intelligence Unit (EIU) research report.

The study, which has been commissioned by the Citigroup, ranked Delhi at number 68 in the list of 120 of the world’s major cities. The national Capital has edged out financial hub of

Mumbai, which ranked 70th in the index, followed by Bangalore, India’s Silicon Valley, at 79th rank, Pune at 97, Chennai at 105 and Kolkata at 106.

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The report, entitled Hot Spots, ranks the most competitive cities in the world for their demonstrated ability to attract capital, business, talent and tourists. With a combined population of about 750 million, the 120 cities ranked in Hot Spots represent approximately 29 percent of the global economy and generated a combined GDP of $ 20.24 trillion in 2011.

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In terms of ’economic strength’, the most highly weighted category, 15 of the top 20 cities are in Asia of which two are from India–Bangalore (16th) and Ahmedabad (19th). Overall, it was European and US cities which are the most competitive globally, the report said.

According to the report, the 10 most competitive cities in the world are: New York, London, Singapore, Paris and Hong Kong (jointly fourth), Tokyo, Zurich, Washington, DC, Chicago,

and Boston.

PTI