India's Urban Awakening
Opportunity of India's urbanisation to 2030 -
- 5 times - the number by which GDP will have multiplied by 2030
- 590 million people will live in cities, nearly twice the population of United States today
- 270 million people net increase in working-age population
- 70 percent of net new employment will be generated in cities
- 91 million urban households will be middle class
- 68 cities will have population of 1 million plus, up from 42 million today; Europe has 35 today
- $1.2 trillion capital investment is necessary to meet projected demand in Indian cities
- 700-900 million square metres of commercial and residential space needs to be built- or a new Chicago every year
- 2.5 billion square metres of roads will have to be paved, 20 times the capacity added in the past decade
- 7,400 kilometres of metros and subways will need to be constructed- 20 times the capacity added in the past decade.
Access and read the McKinsey Global Institute report titled, 'India's urban awakening: Building inclusive cities, sustaining economic growth', here.