FICCI-EY “Cities as Growth Engines” Report on India’s $30 trillion economy by 2047

FICCI and EY publish the “Cities as Growth Engines” report, highlighting the role of Indian cities in the national goal of becoming a US$30 trillion economy by 2047. The report presents current urbanisation metrics, projections, and quantified gaps in finance and infrastructure for Indian cities.

FICCI-EY “Cities as Growth Engines” Report:

Dimension	Key Details
Report Theme	The report comprises an assessment of Indian cities’ role in shaping the goal of a US$30 trillion economy by 2047.
Urban Settlement Structure	India’s urban system comprises a diverse, multi-tiered settlement structure with a small number of large metropolitan centres and a network of more than 7,400 cities and towns.
Urban Population Share	Presently, Indian cities house about one-third of India’s population.
Urban GDP Share	As per the report, Indian cities generate 60% of GDP at present, and this share comprises 75% by 2050.
Climate Resilience Financing Need	As per the report, cities need US$2.4 trillion by 2050 for climate resilience.
Municipal Revenues	Municipal revenues comprise 0.6% of GDP.
Municipal Access to Capital Markets	As per the report, access to capital markets comprises 20 municipal corporations, cumulatively raising only US$476 million.
Urban Infrastructure Deficit	About 70% of urban infrastructure needed by 2047 remains unbuilt.
Infrastructure Investment Requirement	As per the report, the infrastructure requirement comprises US$840 billion over 15 years.
Concentrated Urban Growth	The top 10 cities contribute nearly 30% of GDP.
Other Issues Faced by Cities	Key issues comprise illegal immigration and climate vulnerability such as extreme heat and flooding.