In what is coming as a heartening news to the citizens of the city, Visakhapatnam has been declared as the 9th richest city in India. The survey, which was conducted by Yahoo! India Finance Team, revealed the list of top 10 richest cities in India in terms of the estimated Gross Domestic Product (GDP) (as of 2016).
Visakhapatnam, with an estimated GDP of Rs 2.79 lakh crore, has surpassed Surat (10th place) to occupy the 9th position on the list. India’s financial capital, Mumbai, as expectedly, has once again been declared as the country’s richest city with an estimated GDP of Rs 23.92 lakh crore. While Hyderabad occupied the 5th position, Chennai was restricted to the 6th slot.
Here’s the list compiled by the Yahoo! team
It is a known fact that Visakhapatnam has been identified to be developed as Andhra Pradesh’s financial hub. As one of the initial steps to achieve the same, many companies have come forward to be a part of the city’s Fintech Valley.
The fact that Visakhapatnam has bagged the 9th spot on this list will, hopefully, bolster its chances to attract many more companies to invest here.
Gross Domestic Product (GDP) is the monetary measure of all the final goods and services produced in a particular period of time.