Latest update: February, 2016
Delhi is one of the fastest growing states of the country. At current prices, the gross state domestic product (GSDP) of Delhi was US$ 74.8 billion in 2014-15. Between 2004-05 and 2014-15, the GSDP of the state grew at a compound annual growth rate (CAGR) of 12.8 per cent. Growth was driven by the expansion of the services sector. Banking and insurance, real estate, trade, tourism and communications were driving the progress in the sector.
In 2014-15, the state’s per capita GSDP was US$ 4,252. Between 2004-05 and 2014-15, per capita GSDP grew at a CAGR of 10.9 per cent. Per capita NSDP was US$ 4,076. Between 2004-05 and 2014-15, per capita NSDP grew at a CAGR of 11.1 per cent.
During 2014-15, the GSDP estimates of agricultural and allied activity for Delhi stood at US$ 626.1 million and US$ 259.1 million at current and constant prices, respectively. On the other hand, NSDP estimates of agricultural and allied activity for Delhi stood at US$ 618.8 million and US$ 255.1 million at current and constant prices, respectively.
The location advantage, policy incentives and infrastructure in the state support investments in sectors such as IT/ITeS, banking and financial services industry (BFSI), small scale industries (SSI) and tourism activities. The new Industrial Policy for Delhi 2010-21 aims to provide a conducive environment for knowledge based and hi-tech IT/ITeS industries in Delhi.
Delhi has a large skill base. 30 per cent of the workforce is qualified for occupations such as engineering, medicine, law, and consultancy. Among all the states, Delhi has the largest share of skilled workforce, making it suitable for knowledge-based economic activities such as IT/ITeS, designing, R&D and financial services.
The government is also encouraging activities allied to industries, such as consultancy, information technology, training of skilled manpower through vocational training programmes and entrepreneurial development programmes.
Some of the major initiatives taken by the government to promote Delhi as an investment destination are:
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