Faridabad ranks second in terms of annual growth among Beta cities in India

Faridabad is among the cities that have the potential to match the larger cities in market size. Faridabad had double-digit (14%) annual growth in its market size over the past two years only second to Thiruvallur in Tamilnadu among the Beta or tier-II cities in India. Faridabad comes third in terms of Annual per capita income (Rs 89,246) after Thiruvallur and Vadodara. These Beta cities, as opposed to the Alpha top-tier cities of India, have diverse characteristics. Many of these cities are state capitals such as Jaipur and Lucknow, benefiting from better infrastructure and public services. Cities such as Jamshedpur and Faridabad have been industrial centres for decades now, but seemed to be content giving precedence to other newer centres that have grown. Read full story on LiveMint.com.

If we have a look on the Economic Survey of Delhi which tabled in the Assembly on June 19, 2009 states Delhi’s per capita income is Rs 78,690 in 2007-08. If we take India figures; the CSO estimates showed that when adjusted for inflation, the per capital income reached only Rs 25,494 per annum. However, the per capita monthly income of an average Indian has, for the first time, crossed the Rs 3,000 mark on current price levels (March quarter).

It may be an interesting read on Mint that Surat is the richest city in India by per capita income, averaging Rs4.5 lakh annually per family.

The growth curve is northbound in Faridabad and in all likelihood when communication and commuting hurdles will be cleared Faridabad may cross the threshold.