Amaravati: Major cities in Andhra Pradesh, including those in the capital region, contribute only 25% to the Gross Domestic Product (GDP) of the state - a far cry from cities like Hyderabad and Bangalore that contribute 70% and 61% to the GDPs of their states respectively.
An internal analysis of the Capital Region Development Authority (CRDA) says Vijayawada and Guntur, which fall under the capital region, contribute only 5% each to the state.
CRDA conducted this analysis to assert the needs of the new capital that can contribute to the economic growth of the state. According to the analysis, top capitals that contribute a lion's share of GDP to their states are Mumbai (60%), Kolkata (50%), Ahmedabad (36%) and Chennai (35%) and are also major growth engines.
"Our analysis will tell us the need to develop a new capital which can generate lot of revenue and job opportunities" CRDA commissioner Ch Sreedhar told TOI.
In the case of Mumbai, sectors like media, finance, services, rubber, plastics, electrical machinery and textiles make up the major contributors to its GDP. Bangalore's major sectors are IT, aviation, automobiles and auto components, knowledge-based industries, agri and food processing and telecom while in Hyderabad, IT and pharmaceuticals are its strong areas.
In the case of Ahmedabad, textiles, chemicals, manufacturing, casting and forging, and data processing and diamond processing are the key driving sectors. Kolkata benefits from textiles, fishing, leather, jute products, tea, gems and jewellery.
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