India's Richest Cities: Nasty surprise for Keralites

None of Kerela's cities makes it to this year's richest cities list

The latest list of India's richest cities and suburbs is out, and it has a nasty surprise for Dubai's Malayali community.
Despite the more than Rs75,000-crore that Keralites in the Gulf remit every year to their home cities, none of the state's cities makes it to this year's richest cities list - no, not even Kochi.
Until about a couple of years ago, Kochi did figure - prominently - among the Top 10 Richest Indian Cities, and it was all thanks to the generous remittances from Keralite migrants here in the Gulf, especially the UAE.
To make matters even more striking, Gurgaon, a satellite township on the outskirts of Delhi and with a population one-third that of some of Kerala's big cities (Thiruvananthapuram and Kochi), makes it to the rich list.
The list, published by New World Wealth as part of its wealthiest cities in the world 2016 report, shows that Mumbai tops this year's list with total wealth held in the city amounting to $820 billion (Dh3 trillion). There are a total of 45,000 millionaires and 26 billionaires in Mumbai, the report shows.
Total wealth held in INDIA amounts to $5.6 trillion (as of June 2016),the report shows, with 264,000 millionaires and 95 billionaires.
With $450 billion (Dh1.65 trillion) in wealth, India's capital city Delhi is second on the list, and boasts of 22,000 millionaires and 18 billionaires.
Following it are Bangalore, Hyderabad, Kolkata, Pune, Chennai and Gurgaon, in that order.
What Makes India's Richest Cities Rich
MUMBAI
Total wealth: $820 billion
Millionaires: 45,000
Billionaires: 28
Affluent suburbs: Bandra, Juhu, Goregaon, Parel, Worli, Palm Beach Road
Major industries: Financial services, real estate and media.
DELHI
Total wealth: $450 billion
Millionaires: 22,000
Billionaires: 18
Affluent suburbs: Westend Greens, Dera Mandi, Greater Kailash, Lutyens
Major industries: Construction, retail and manufacturing.
BANGALORE
Total wealth: $320 billion
Millionaires: 7,500
Billionaires: 8
Affluent suburbs: Indiranagar, Sadashivanagar
Major industries: IT, business process outsourcing and biotechnology.
HYDERABAD
Total wealth: $310 billion
Millionaires: 8,200
Billionaires: 7
Affluent suburbs: Jubilee Hills, Banjara Hills
Major industries: Pharmaceuticals, IT and business process outsourcing.
KOLKATA
Total wealth: $290 billion
Millionaires: 8,600
Billionaires: 10
Affluent suburbs: Ballygunge, Alipore
Major industries: Manufacturing, basic materials, pharmaceuticals and food processing.
PUNE
Total wealth: $180 billion
Millionaires: 3,900
Billionaires: 5
Affluent suburbs: Boat Club Road, Kalyani Nagar, Koregaon Park
Major industries: IT and manufacturing (automobiles).
CHENNAI
Total wealth: $150 billion
Millionaires: 6,200
Billionaires: 4
Affluent suburbs: Boat Club Road, Poes Garden
Major industries: Healthcare, manufacturing (automobiles), financial services and tourism.
GURGAON
Total wealth: $110 billion
Millionaires: 3,600
Billionaires: 2
Affluent suburbs: Golf Course Road
Major industries: IT and manufacturing.
Emerging Indian Cities
· Surat
· Ahmedabad
· Visakhapatnam
· Goa
· Chandigarh
· Jaipur
· Vadodara
Growth prospects:
Over the next decade, India is expected to benefit from strong growth in the local financial services, IT, real estate, healthcare and media sectors (10 year growth forecast: 150 per cent).
In particular, the local hospital services and health insurance sectors are expected to grow strongly. Hyderabad, Pune and Bangalore are expected to be lead the pack in terms of wealth growth.

• India