New Delhi - Economy

Economy

Connaught Place, one of northern India's largest commercial and financial centres, is located in the northern part of New Delhi. Adjoining areas such as Barakhamba Road, ITO are also major commercial centres. Government and quasi government sector was the primary employer in New Delhi. The city's service sector has expanded due in part to the large skilled English-speaking workforce that has attracted many multinational companies. Key service industries include information technology, telecommunications, hotels, banking, media and tourism.

The 2011 World Wealth Report ranks economic activity in New Delhi at 39, but overall the capital is ranked at 37, above cities like Jakarta and Johannesburg.

The Government of National Capital Territory of Delhi does not release any economic figures specifically for New Delhi but publishes an official economic report on the whole of Delhi annually. According to the Economic Survey of Delhi, the metropolis has a net State Domestic Product (SDP) of Rs. 83,085 crores (for the year 2004–05) and a per capita income of Rs. 53,976($ 1,200). In the year 2008–09 New Delhi had a Per Capita Income of Rs.1,16,886 ($ 2,595).It grew by 16.2% to reach Rs.1,35,814 ($ 3,018) in 2009–10 fiscal. New Delhi's Per Capita GDP (at PPP) was at $ 6,860 during 2009–10 fiscal, making it one of the richest cities in India. The tertiary sector contributes 78.4% of Delhi's gross SDP followed by secondary and primary sectors with 20.2% and 1.4% contribution respectively.

The gross state domestic product (GSDP) of Delhi at current prices for the year 2011-12 has been estimated at Rs 3.13 lakh crore, which is an increase of 18.7 per cent over the previous fiscal.