Bengaluru, Jan 19: Technology hub Hyderabad has edged out 129 other cities in the world to emerge as the world's most dynamic city, according to the seventh edition of the City Momentum Index by global real estate services firm JLL.
The city has pushed Bengaluru to second place to regain the top position after a gap of one year. Chennai is at fifth and Delhi is at sixth place.
While Hyderabad and Bengaluru are the top two cities globally for socio-economic momentum, a more active real estate market helped elevate Hyderabad to first position in the overall ranking, says the report released by the US-based Jones Lang Lasalle (JLL) on Saturday night.
Hyderabad recorded the highest office net absorption in 2019 (as a proportion of existing stock) of any city globally, while it is also among the world's best-performing cities for prime office rental growth.
While all seven major Indian cities feature in this year's Global Top 20, cities in south India in particular - Hyderabad, Bengaluru and Chennai (5th) "are ahead of their northern peers, supported by favourable demographics and business climates".
"Their expanding tech industries and start-up cultures make them a magnet for young and ambitious talent from across the country, with Bengaluru having one of the world's largest concentrations of 'engine room' population (20-40-year-olds), typically the most dynamic and productive age cohort," says the report.
Kolkata and Mumbai made it to the top 20 and stood at the 16th and 20th positions. Despite an economic slowdown, India leads the 2020 Index with seven Indian cities in the top 20.
"Commercial real estate in south Indian cities is growing at a rapid pace. Hyderabad has seen tremendous growth in 2019 in line with that of Bengaluru. The city has actively embraced technology-driven economic growth and attracted large tech giants and e-commerce players. The state government's focus on business-friendly policies and provision of high-quality infrastructure along with availability of quality talent pool and superior quality business parks has given Hyderabad a competitive edge," said Ramesh Nair, CEO and Country Head - India, JLL.
Telangana's Minister for Information Technology and Industry K T Rama Rao said he was thrilled over Hyderabad not only regaining the top slot but also over the fact that it was competing with cities like Shenzhen and Shanghai in innovation economy.
The minister said 50 percent weightage from socio-economic indicators beside the remaining 50 percent from commercial and real estate was also heartening.
KTR, as the minister is popularly known, noted that in 2014 when Telangana attained statehood, Hyderabad was not even in the list. He recalled that when Telangana was formed there were many doubts as to what would happen to Hyderabad. "It entered the top 20 in 2015 and rose to fifth place in 2016 and third position in 2017. Hyderabad topped the list in 2018 and finished second the last year. This year it is back at the top," he said.
The JLL City Momentum Index identifies a number of key growth drivers, including talent attraction, the expansion of innovation hubs and better urban planning, that cities can employ to meet the challenges faced by rapid momentum.
Several cities in the top 20 stand out as they transform their urban environments in pursuit of a low-carbon future. In India, Hyderabad is looking at technology to reduce the demand for air conditioning with cool roofs that reflect sunlight and absorb less heat, it said.
"The growth of "micro-mobility" is another positive step, illustrated by Hyderabad's introduction of smart bikes and electric cars. Smart city solutions, such as bike rentals, improved quality of life, help increase inclusion and aid in the transition to a low carbon environment."
Comments
The actual FACT is during Independence and Partition of India & Pakistan, British as usual left a piece of land so that there will be no peace between India & Pakistan (in-case if they join Hands they will become Super Power of the World). The only solution for Peace to Prevail is leave Kashmir to their people. Let them decide which part of Kashmir they want to stay, make partition, I know this won't be done as for political GAINS, Let the families of Politician start living in Kashmir and feel how it is to lose a loved ones. Just by blaming Pundits and Muslims wont work. Killing innocent people by either side is just to brainwash the Public and to keep the rivalry alive on the basis of religion and country.
Malala , you have yourself experienced how inhuman and ruthlessly atrocious Pakistan Government is. As they manipulated you and your family’s circumstances to harass, they are exploiting and manipulating India’s freeness and all-inclusiveness to keep Kashmir and its denizens in constant turmoil to get pleasure from other’s pain. They are doing same to Baluchistanis since partition and the Kashmiries of Pakistan held area are extremely unhappy and are in totters due to this policy of Pakistan.
Its Pakistan's fault not Indians....Pakistan should stop sending terrorists to India ...which is not happening at all....that is why Kashmiris suffering around there...
Malala should advise Pakistan government first not to involve with our domestic problems....
It is good for Kashmiris if they stay with India as far as their security and economic developments are concerned...
True that Malala has suffered beyond our imagination and came out of it bravely. But that doesn't make her an expert in everything.
Dear Malala, Can you please talk about the inhumanity and heartbreak in Pakistan-occupied Balochistan?
Malala Request you to please stay peaceful and stay happy and not say things that don't fit into ur vocab pls.
I didn't really used to like her but now my respect for her has gone up a lot.
Do you live in delusional world..what should paramilitary forces do if someone is breaking law and order of any country
Lets hope this time her voice will be heard as she has won Noble Prize for PEACE. Lets wish that India will keep Human Life above her EGO and will look Kashmir with HUMAN eye before there is no solution left
Dear Malala, Surely New Delhi government and Kashmiri people need to work together. Your concern is respected.
India in committing a genocide in Kashmir by killing innocent people SC must take notice of this.
As much as I admire Malala, I hate to see her get into Politics and Indo-Pak disputes. There are enough noises being made, or have been made, to no end.
please advise the kids to stop pelting stones and focus on studies to snatch the opportunities from rapidly growing Indian economy.
Thank you Malala for raising your voice in our support.
Since you are an influential opinion maker, I hope the world listen to you and stop the perpetrator from committing these atrocities against us.
Malalaji, Welcome to politics.
Dear Malala we respect you. But it is not government of India or Pakistan decide the future of Kashmir. There are some third parties who really want disturbance or conflict in the valley.
Trolls across the border always loved everything Malala spoke about. I hope they do the same now and accept stark reality!
Thank You Malala, for your kind words and care about Kashmiris
She is a teenage girl with little understanding of the dynamics of terrorism inspite of being a victim of it herself. The valley has been infected by the terror virus with religion which drove away the natural inhabitants of Pandits from Kashmir being hounded from mosque sermons. Many got murdered and not so lucky to escape. No one thought of their rights, now a generation has spent the life as refugee. Neither India nor local Kashmir government or the world body cares to it. However Pakistan terror export looks working well, but it is always the civilian who pays the price.
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