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Delhi State Presentation and Economic Growth Report | IBEF

Last updated on Jun, 26 2020

Economic Snapshot
Economic Snapshot

 


Delhi is one of the fastest growing states/union territories in the country. At current prices, Gross State Domestic product (GSDP) of Delhi increased at a CAGR (in Rs) of 11.79 per cent between 2015-16 and 2019-20 to reach Rs 8.56 trillion (US$ 122.49 billion). Per capita GSDP (in Rs) increased at a CAGR of 9.48 per cent between 2015-16 and 2019-20 to reach Rs 427,308 (US$ 6,062).

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 average daily line utilization of Delhi Metro is 56.61 lakh per day by January 2020.

The Government of Delhi is 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.

Delhi has a large skill base. Around 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.

According to Department for Promotion of Industry and Internal Trade (DPIIT), Foreign Direct Investment (FDI) inflow in Delhi, including part of Uttar Pradesh and Haryana, stood at US$ 96.41 billion between April 2000 and March 2020.

Some of the major initiatives taken by the Government to promote Delhi as an investment destination are:

  • New Delhi metro grey line will be constructed between Dwarka-Najafgarh station by December 2020.
  • Delhi Government has set up a Business Facilitation Council (BFC) to facilitate single-window clearances from various departments for establishing industrial enterprises in a time-bound manner.
  • Small-scale industries registration has been simplified and replaced by memorandum under MSMED Act 2006. Further, filing of the memorandum is optional for micro, small and medium manufacturing enterprises, and micro and small service enterprises.
  • State Level Export Promotion Committee (SLEPC) has been constituted to draw export policy and action plan and approve infrastructure projects for financial assistance under Assistance to States for Developing Export Infrastructure and Allied activities (ASIDE) scheme of the Central Government.
  • According to the Delhi 2021 Master Plan, special emphasis has been laid on improved solid-waste management policies. The short-term goals are capacity building with respect to financial services and performance management, effecting trial runs of collection and waste-reduction schemes, developing transport, landfill sites and transfer stations for waste and focusing on biomedical and hazardous waste management programmes.
  • Delhi Development Authority has approved a new land pooling policy, which is expected to result in five more subcities, such as Dwarka, Rohini and Narela, in other urban extension areas. The new policy would ensure that the private sector is involved in the development of new urban extension areas in the cities.
  • The national capital received 29.11 million domestic tourists and 2.74 million foreign tourists in 2018.
Delhi State Presentation

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