India is a country full of culture and vibrancy – but did you know it’s also home to some of the wealthiest cities in the world? With a population of over 1.3 billion and vast economic growth, India has seen its share of wealthy cities rise over the years. From high-end shopping malls in Delhi to booming technology hubs in Bengaluru, these cities are home to some of the country’s most influential people and companies.
Many wealthy cities in India are fast-growing technology hubs, homes to massive automobile industries and manufacturers, and cities full of history, culture, and trade. In this article, we’ll take a look at the top 20 richest cities in India and how these places have contributed to the country’s overall wealth. These cities are ranked according to the average yearly salary per person. You will find out why each of these cities is so wealthy and what they offer those who call them home.
How Is Average Yearly Salary Determined In India?
In India, the average yearly salary is determined by taking the total wages earned by all working individuals and dividing it by the total population of people employed in different sectors. To determine the average yearly salary in a certain city, the salaries of all employed individuals in that city are added up and divided by the number of employed individuals in that city. This calculation provides the average yearly salary for that city.
The average yearly salary in India also depends on factors such as education level, experience, and job type. Individuals with higher qualifications and/or more experience tend to have higher salaries than those without these qualifications or experience. Some jobs also pay much better than others, so individuals who work in prestigious fields such as finance or IT typically earn a higher salary. In addition to these factors, the average yearly salary in India also varies by location.
The Richest State In India
Goa is the wealthiest state in India if you measure wealth by GDP per capita( a country's monetary gain per person). With its lush coastline, pristine beaches, and booming tourism industry, Goa has become one of the most sought-after tourist destinations in India- and the highest earning of the 8 territories. The state’s economy is driven by tourism, agriculture, and industrial production. Its capital city, Panaji, is home to a number of high-end hotels and resorts and affluent residents.
The Richest Union Territory In India
Delhi is the richest union territory in India. The 8 union territories are governed by the federal government of India, unlike the states, which govern themselves. It has the highest per capita income of the eight union territories, due to its strategic location and proximity to metropolitan areas like New Delhi. Due to its economic status, it has a population of over 20 million people as of 2020. Delhi is home to numerous companies that are part of large conglomerates or multinational corporations.
The union territory also boasts excellent infrastructure for transportation and communication, making it a prime destination for businesses. As home to one of the largest cities in India, it offers a variety of amenities that meet the needs of its residents and visitors alike. Popular attractions include Red Fort, Jama Masjid, Qutub Minar, Lotus Temple, and India Gate. Delhi is also home to several educational institutions, such as the University of Delhi and JNU, making it a hub for higher education.
20 Richest Cities In India
20. Ahmedabad
Average Salary: $17,738 USD
Ahmedabad is the largest city and commercial hub of Gujarat, located on the banks of the Sabarmati River. The city has a long history going back to 1411 when it was first established by Sultan Ahmed Shah. It was a major trading center in colonial times, with many merchant guilds forming in the mid-1800s.
Today, Ahmedabad is a modern city with a variety of industries, including textiles, pharmaceuticals, and chemicals. The city has also become a major center for education and IT services. With its favorable employment outlook and high salaries, it ranks among the 20 richest cities in India.
19. Pimpri-Chinchwad
Average Salary: $17,834 USD
Pimpri-Chinchwad is an industrial town located in the Pune metropolitan area of Maharashtra. It is a major manufacturing and production hub, home to some of India's largest automotive companies, like Tata Motors and Bajaj Auto. The city also has several IT parks that house numerous IT companies, making it one of the most important IT hubs in the country. In addition, Pimpri-Chinchwad is a popular location for higher education with numerous universities and colleges.
18. Aurangabad
Average Salary: $17,932
Aurangabad is a city in the Indian state of Maharashtra and is one of the 20 richest cities in India. It has an estimated population of 1.2 million people as of 2019, making it the 11th most populous city in Maharashtra. It was founded by Malik Ambar, an influential prime minister to Murtaza Nizam Shah of the Ahmadnagar Sultanate, in 1610.
The city usually produces upwards of 7 billion in GDP a year due to its flourishing textile industries. Aurangabad is home to several industries and software parks, including the Aurangabad Industrial City (AURIC).
17. Nashik
Average Salary: $18,652
Nashik is a city in the Indian state of Maharashtra and is one of the twenty richest cities in India. It is the fourth most populous city in Maharashtra with an estimated population of 1.8 million people as of 2019. The city has a long history, with evidence of settlements dating back to the Stone Age era.
Today, Nashik is a major industrial and commercial hub with many industries, including automotive components, pharmaceuticals, biotechnology, food processing, and IT services.
16. Calcutta
Average Salary: $19,290 USD
Calcutta is the capital of West Bengal, located in the east of India. It has an estimated population of 4.7 million people as of 2019. The city was founded by Job Charnock in 1690 and became a major trading hub during colonial times.
Today, Calcutta is known for its diverse and vibrant culture, with many architectural landmarks, religious sites, and art galleries. It also has a booming economy with industries such as textiles, engineering goods manufacturing, information technology, pharmaceuticals, and chemicals.
15. Chennai
Average Salary: $19,627 USD
Chennai is a major city in the Indian state of Tamil Nadu and is one of the 20 richest cities in India. It has an estimated population of 8.9 million people as of 2019, making it the fourth-most populous city in India. The city was formerly known as Madras and was founded by the East India Company in 1639. It has since become an important commercial and cultural hub in South India.
Chennai is home to many industries, including automotive manufacturing, technology, film production, software services, pharmaceuticals, textiles, and petroleum refining. The city also has a large number of IT parks and research institutes that attract foreign investments.
14. Thane
Average Salary: $20,596 USD
Thane is a city in the Indian state of Maharashtra and is one of the 20 richest cities in India. It is located on Thane Creek, just north of Mumbai, and has a population of around 1.8 million people. The economy of Thane is largely dependent on various industries such as textiles, chemicals, engineering goods, and other manufacturing.
Thane also has considerable real estate investment opportunities due to its proximity to Mumbai and good infrastructure. As such, it is often considered to be one of the best cities for real estate investment in India.
13. Vadodara
Average Salary: $21,076 USD
Vadodara, also known as Baroda, has become a major industrial hub with strong ties to other industries such as pharmaceuticals and textiles. The city also boasts a lot of automotive plants and has a flourishing IT industry. Vadodara is home to some of the biggest corporate houses, such as Tata Consultancy Services, Piramal Enterprises, Wockhardt Ltd., and Praj Industries.
It is also one of the few places in India where agricultural research and development is conducted. Vadodara has a rich cultural heritage with many historical monuments, temples, and other attractions, like Laxmi Vilas Palace, Sai Baba Temple, and Kirti Mandir. With a total GDP of $41 billion, Vadodara is the 12th richest city in India.
12. Nagpur
Average Salary: $21,181 USD
Nagpur is located in the state of Maharashtra, and it is known as a major trading and commercial hub. It has been an important center for commerce since the early days of the Maratha empire, and today there are many educational institutions and industries operating in the city.
The economy of Nagpur is driven by the agriculture, IT, and automotive sectors. It is one of India's fastest-growing cities, with a population that has grown more than four times in the last 75 years. The government has been investing heavily in infrastructure to promote economic growth – from good roads to airports and public transportation systems.
11. Navi Mumbai
Average Salary: $21,422 USD
Navi Mumbai is located in the state of Maharashtra. This city stands as a twin to its much older counterpart, Mumbai. It was founded in 1971 and serves as an important commercial and financial hub. With a total population of more than 1.2 million people, Navi Mumbai is one of the 20 richest cities in India. It boasts a number of large companies and industries, including Reliance Industries, Larsen & Toubro, Hindustan Petroleum Corporation Limited, and Indian Oil Corporation Ltd.
The city also has a well-developed infrastructure with a modern airport, railway lines, highways, and roads connecting it to other parts of the country. The presence of numerous high-end shopping malls, restaurants, and entertainment centers further add to the affluent lifestyle enjoyed by its residents.
10. Ghaziabad
Average Salary: $21,496 USD
Ghaziabad is located in the state of Uttar Pradesh. It has a population of over 2 million people, making it the sixth most populous city in Uttar Pradesh. Ghaziabad is an industrial hub with many large companies having their headquarters or offices there. The economy of Ghaziabad is mainly driven by a strong manufacturing and industrial sector. The city also has many shopping malls, multiplexes, educational institutions, IT parks, and healthcare facilities as well.
Ghaziabad is connected to the national capital through various modes of transport, including trains and buses. It is one of the fastest-growing cities in India and its economy ranks among the top 15 in India. Ghaziabad is also home to some of the oldest and most iconic landmarks in India, such as the Akshardham temple, Mughal Gardens, and St. John's Church.
9. Madurai
Average Salary: $21,989 USD
Madurai, a historical city in the state of Tamil Nadu, is located on the banks of River Vaigai. Madurai has a rich cultural heritage that dates back more than 2000 years and is known for its Meenakshi Amman Temple. The city’s economy is driven by its flourishing textile industry, software industry, and tourism sector. Madurai is also a major educational hub with more than 50 engineering colleges located in the city.
This makes it one of the most sought-after destinations for students looking to pursue higher education. Madurai also has some of the most beautiful tourist attractions, like the Thirumalai Nayak Palace, the Gandhi Museum, and the Tirupparankundram Temple.
8. Hyderabad
Average Salary: $22,607 USD
Hyderabad is the fifth most populous city in India and the capital of Telangana. Its economy is powered by a diverse range of industries, such as biotechnology, textiles, IT services, banking, retail, and financial services. Apart from being an economic hub, Hyderabad is also known for its rich culture and heritage. It has been recognized as one of India's fastest-growing cities, home to some of the highest demands in real estate investments.
7. Pune
Average Salary: $23,010 USD
Pune is a bustling metropolis located in the state of Maharashtra. It is a major educational, economic and cultural hub in India known as the Oxford of the East due to its numerous universities, colleges, and other educational institutions. Pune is home to many industries such as IT, automotive, and manufacturing. It also houses a large number of educational institutions that attract students from all around India and abroad.
6. Jodhpur
Average Salary: $23,628 USD
Jodhpur is located in Rajasthan. It is known as the “Sun City” for its bright, sunny weather all year round. The city has a long history, having served as an important trade center since ancient times. The economy of Jodhpur is mainly driven by tourism, handicrafts, and agriculture. Popular attractions in the city include Mehrangarh Fort, Jantar Mantar Observatory, Umaid Bhawan Palace, and Lake Pichola. The city also has a vibrant culture with many festivals such as Gangaur and Teej taking place each year. It is also home to some of the best colleges in India, including the Indian Institute of Technology (IIT Jodhpur) and the University of Rajasthan.
5. Bhubaneswar
Average Salary: $24,239 USD
Historically, Bhubaneswar has been a major center for trade and commerce since the 6th century BCE. Today, Bhubaneswar is a bustling urban center with diverse economic activities. It is home to the largest IT park in India and has become a major hub for technology companies. The city also has an emerging retail sector, driven by malls, supermarkets, and international brands.
4. New Delhi
Average Salary: $24,756 USD
New Delhi is the capital of India and one of its richest cities. New Delhi has seen rapid growth in its economy over the last decade, making it one of the most affluent cities in India. The city has experienced significant development in infrastructure, transportation, education, and health care.
This has led to an influx of foreign investment which has seen the city become a major hub for technology and business. The city has a number of prestigious universities, world-class hospitals, shopping malls, and other attractions that have made New Delhi one of the most popular cities to live in across India.
3. Bangalore
Average Salary: $25,541 USD
Bangalore, the capital of Karnataka state, is India's third most populous city and one of its richest. Bangalore is known for its pleasant climate, IT industry, and cosmopolitan culture. Bangalore is also home to many multinational companies like Microsoft, Walmart, and Google, which have their offices here. The city has seen tremendous growth in recent years due to its thriving IT industry, which has also led to an influx of people from all over the country.
2. Mumbai
Average Salary: $25,678 USD
Mumbai is the most populous city and one of the richest places in India and the capital of Maharashtra state. It holds the distinction of being home to some of India's wealthiest citizens, many of whom are among the country's richest. The city has a high concentration of corporate headquarters and financial institutions, as well as luxury hotels and shopping districts.
It is also home to some of India's biggest Bollywood stars, cementing its status as one of the most glamorous cities in the country. Mumbai is home to 26 billionaires. Its wealth has been mainly derived from service-based industries such as finance, shipping, media, and entertainment.
1. Solapur
Average Salary: $34,138 USD
Solapur is the wealthiest city in India. Located in the southwestern part of Maharashtra, it is the fourth-largest district in the state by area and fifth-largest by population. The city is outpacing its rivals in terms of growth and development. It has several industrial hubs, including textiles, pharmaceuticals, engineering, and automotive components. Solapur also has a well-developed infrastructure, with access to roads and railways.
