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Business and Economy

 

A view of a wholesale market in delhiEconomy of Delhi has shown tremendous growth over the past few years. Delhi has a strong and vibrant economy which is quite vivid from its Gross Domestic Product. According to economic survey of Delhi- 2000-2001, Delhi's GDP was 478 billion INR and per capita income of 38,860 INR. The annual economic growth rate of Delhi was 9.9%. Taking out some excerpts from the economic survey of Delhi, the tertiary sector contributed to 78.4% of Delhi's GDP with secondary and primary sectors contributing 20.2% and 1.4% respectively. 
 
auto expo pragati maidan delhiWith an estimated net State Domestic Product (FY 2010) of Rs.157,817 Crores in nominal terms and ~Rs.630,000 Crores in PPP terms, Delhi is the largest commercial center in northern India. In 2010, Delhi had a per capita income of Rs.135,820 at current prices, the third highest in India after Chandigarh and Goa as of 2010. Delhi's GDP (at 2004-05 prices), on an average, has registered an astonishing 10.7% growth for the past five years, making it one of the fastest emerging city in the region.
 
The tertiary sector contributes 70.95% of Delhi's gross SDP followed by secondary and primary sectors, with 25.20% and 3.85% contribution, respectively. Delhi's workforce constitutes 32.82% of the population showing an increase of 52.52% between 1991 and 2001. Delhi's unemployment rate decreased from 12.57% in 1999–2000 to 4.63% in 2003. In December 2004, 636,000 people were registered with various employment exchange programmes in Delhi.
 
T3 Airport IGIA New DelhiWell, the tertiary sector we are talking about basically comprises of service sectors like trade, real estate, hotels, restaurants, financing, banking, insurance, business services and other service centered industries. The contribution from this particular industry increased from 70.47% in 1993-94 to 78.39% for the year 2000-2001. Thanks to the flexible and investor friendly policies of the government. 
 
Business women arriving at T3 International Airport, New DelhiIf we look at the reason behind Delhi's growth, we find that it is attributed to a number of reasons. However, pointing a few out, we can say that Delhi has always been the market place of Northern India and has various industries like textile, handloom, arts and crafts. Delhi also happens to be an important trade route between Punjab and Gangetic plains, which makes it an important trade center and manufacturing hub.
 

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