Delhi is one of the fastest growing states of the country. At current prices, the gross state domestic product (GSDP) of Delhi increased at a CAGR (in Rs) of 12.20 per cent between 2011-12 and 2017-18 to reach Rs 6.86 trillion (US$ 105.96 billion). The per capita GSDP (in Rs) increased a CAGR of 10.09 per cent between 2011-12 and 2017-18 to Rs 360,644 (US$ 5,596). 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 state.
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. Total merchandise exports from Delhi were US$ 8.71 billion in FY18 and have reached US$ 6.44 billion in FY19 (up to September 2018).
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.
According to the Department of Industrial Policy & Promotion (DIPP), FDI inflows in Delhi, including part of Uttar Pradesh and Haryana, stood at US$ 79.76 billion from April 2000 to June 2018.
Some of the major initiatives taken by the government to promote Delhi as an investment destination are: