India has world’s fastest growing cities

Singapore has overtaken the US as the most competitive economy globally in the IMD World Competitiveness annual ranking. Hong Kong SAR took the second position followed by the US at rank 3. The decline in attractiveness of the US is attributed to factors like higher fuel prices, weakening exports, and fluctuations in dollar value.

India does not rank among the top 40, and just improved its position by one rank to 43 this year. However, India is home to the fastest growing cities of the world – Surat, Agra, Bengaluru, Hyderabad, Nagpur, Tirupur, Rajkot, Tiruchirapalli, Chennai and Vijayawada. Bengaluru is expected to top these cities with a GDP of US$ 283 billion by 2035.