Delhi is the capital of the Republic of India and also a state for administrative purposes. It is one of the largest metropolises in the country. Delhi shares its borders with the states of Uttar Pradesh and Haryana. It is the centre of international politics, trade, culture and literature in India.
Delhi is one of the fastest growing states of the country. At current prices, the Gross State Domestic Product (GSDP) of Delhi was US$ 85.4 billion in 2015-16. Between 2004-05 and 2015-16, the GSDP of the state grew at a compound annual growth rate (CAGR) of 12.9 per cent. The state government expects to register growth of 11 per cent to 11.5 per cent by the end of 2017. At current prices, the Net State Domestic Product (NSDP) of Delhi was US$ 78.38 billion in 2015-16.
Delhi has an attractive real estate market and is a preferred tourist destination. Owing to its location, connectivity and rich cultural history, Delhi has always been a prime tourist attraction of the country.
The Government of Delhi has been committed towards creating a progressive business environment. The new Industrial Policy 2010-21 aims to provide a conducive environment for knowledge-based and hi-tech IT/ITeS industries in Delhi.
According to the Department of Industrial Policy & Promotion (DIPP), FDI inflows in Delhi, including part of Uttar Pradesh and Haryana, stood at US$ 62.15 billion from April 2000 to March 2016.
- Under the Annual Budget plan for 2016-17, Government of Delhi proposed an outlay of US$ 1.06 million for the development of agriculture & allied services, in the state. The total horticulture crop production in the state was recorded to be 387.34 thousand tonnes and the area under cultivation was 21.72 thousand hectare, during 2015-16
- As per the State Budget 2016-17, Government of Delhi decided to redesign 11 roads, during 2016-17, with a view of making the streets welcoming for the physically challenged people as well as pedestrians and for promoting cycling and easing the use of public transport in the state.
- During 2015-16, the state government minimized the average load shedding to 0.15 per cent. Moreover, as per the state budget 2016-17, the State Government has allocated a plan outlay of US$ 244.42 million for the development of Energy sector in the state.
- Mr M Venkaiah Naidu, Minister of Urban Development, has announced a package of Rs 3,250 crore (US$ 490 million) for Delhi to fund various projects required for decongestion of roads and development of the city.
- A team of representatives from Kenya Energy Regulatory Commission, Kenya Power and Lighting Company, Jamaica Public Service Company Ltd and Jamaica Social Investment Fund visited the Delhi Electricity Regulatory Commission (DERC) and distribution firms such as Tata Power Delhi Distribution Ltd (TPDPL) in an attempt to introduce and replicate electricity distribution reforms in their respective countries.
- As of March 2016, total deposits held by commercial banks in Delhi stood at US$ 25.03 billion, while total credit disbursed stood at US$ 18.4 billion.
- National Capital Region (NCR) is India’s biggest milk market. The organised milk market in the region, estimated at five million litres per day, is growing at 6-8 per cent annually.
- Delhi Development Authority (DDA) has reduced the minimum area requirement for farmhouses to 1 acre from 2.5 acres earlier. The revised norm offers owners of an estimated 2,700 farmhouses in the city the opportunity to downsize and monetise their surplus property.
- As per the new Industrial Policy for Delhi 2010-21, the Government is keen on developing and promoting the hi-tech, sophisticated, knowledge-based IT and ITeS industries in the state. For this, the Government has planned to set up ‘Centre of Excellence’ to promote innovation and entrepreneurship in the sectors.