Indians are moving to the citiesJul 5th, 2011 | By Justin Long | | Print This Post |
India’s Urban Awakening (McKinsey Global Institute) projects that, by 2030:
- The number of megacities (1 million+) will rise from 42 today to 68 (twice Europe’s total).
- This doubling represents only a small potential of future urbanization. Today, only 30% of Indians live in cities.
- Indian cities could be responsible for three quarters of new employment and India’s GDP.
- Urbanization could lead to a quadrupling of national per capita income.
- A larger middle class could develop: from 22 million households today to 91 million households by 2030.
- Significant urban infrastructure problems will need to be dealt with.