Delhi - Economy

Economy

Delhi is the largest commercial centre in northern India; it has an estimated net State Domestic Product (FY 2010) of 157,817 crore (US$28.72 billion) in nominal terms and ~630,000 crore (US$114.66 billion) in PPP terms. As of 2010, the per capita income of Delhi was 135,820 (US$2,471.92), the third highest in India after Chandigarh and Goa. Delhi's Gross domestic product GDP (at 2004-05 prices), on average, grew by 10.7% between 2007 and 2012, making it one of the fastest growing cities in the region.

As per the Economic survey of Delhi (2005–2006), the tertiary sector contributes 70.95% of Delhi's gross SDP followed by secondary and primary sectors, with 25.20% and 3.85% contributions respectively. Delhi's workforce constitutes 32.82% of the population, and increased by 52.52% between 1991 and 2001. Delhi's unemployment rate decreased from 12.57% in 1999–2000 to 4.63% in 2003. In December 2004, 636,000 people were registered with various employment exchange programs in Delhi.

In 2001 the total workforce in national and state governments and the quasi-government sector was 620,000, and the private sector employed 219,000. Key service industries are information technology, telecommunications, hotels, banking, media and tourism. Construction, power, health and community services, and real estate are also important to the city's economy. Delhi has one of India's largest and fastest growing retail industries. Manufacturing also grew considerably as consumer goods companies established manufacturing units and headquarters in the city. Delhi's large consumer market and the availability of skilled labour has attracted foreign investment. In 2001, the manufacturing sector employed 1,440,000 workers and the city had 129,000 industrial units.