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Friday, February 18, 2011

Family earnings above-average in smaller urban centres

Jalandhar, Aurangabad and Agra may be smaller in size than many Indian cities, but household earnings in these places are much more than the urban average across the country, says a new survey.


"Jalandhar, Aurangabad, Bhubhaneshwar, Agra and Raipur are among the 'cities of opportunities'. The households in these cities earn more than India's average urban household," according to a Morgan Stanley research report, titled, "AlphaWise City Vibrancy Index: A Guide to India's Urbanisation."

As per the Centre for Monitoring Indian Economy (CMIE), the quarterly average household income is about USD 1,009 (Rs 45,000) per quarter, per urban household across the country, whereas these 'cities of opportunities' have a quarterly average household income of above Rs 65,000.

The report noted that the key factors that drive urbanisation in the top 200 cities (by population) in India include infrastructure, job opportunities, modern consumer services and the city's ability to mobilise savings.

The index helps investors evaluate companies' strategic positioning in urban centers and monitor sector trends over time. It also acts as a guide on the relative level of urbanisation across India's top cities.

"Urbanisation is a core component to the process of city formation and building out India's competitive strength in the global markets," said Morgan Stanley's Head of India Research and Strategist, Ridham Desai.

The report also revealed that tech hub Bangalore has emerged as the most vibrant city in terms of coping with problems like infrastructure and job creation among the country's top 50 vibrant cities.

Interestingly, second-tier cities Mysore and Meerut came in second and sixth places, while Mumbai stood at 21st position among the country's top 50 cities in terms of quarterly earnings.
Also among the top 10 cities were Pune (third), Hyderabad (fourth), Chandigarh (fifth), Chennai (seventh), Delhi (eighth), Thiruvananthpuram, (ninth) and Nashik (10th).

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