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Delhi's Economy
Economy of Delhi has shown tremendous
growth over the past few years. Delhi has a strong and vibrant economy
which is quite vivid from its Gross Domestic Product. According to
economic survey of Delhi- 2000-2001,
Delhi's GDP was 478 billion INR and per capita income of 38,860 INR.
The annual economic growth rate of Delhi was 9.9%. Taking out some
excerpts from the economic survey of Delhi, the tertiary sector contributed
to 78.4% of Delhi's GDP with secondary and primary sectors contributing
20.2% and 1.4% respectively.
Well, the tertiary sector we are talking about basically comprises
of service sectors like trade, real
estate, hotels,
restaurants, financing, banking, insurance, business services and
other service centered industries. The contribution from this particular
industry increased from 70.47% in 1993-94 to 78.39% for the year 2000-2001.
Thanks to the flexible and investor friendly policies of the government.
If we look at the reason behind Delhi's growth, we find that it is
attributed to a number of reasons. However, pointing a few out, we
can say that Delhi has always been the market place of Northern India
and has various industries like textile, handloom, arts and crafts.
Delhi also happens to be an important trade route between Punjab and
Gangetic plains, which makes it an important trade center and manufacturing
hub.
Growth
in Delhi's economy can also be attributed to the fact that
several new industries have evolved over the years and contributing
to Delhi's industrial growth. These industries include jewellery,
export, embroidery, silver vases, textile, fashion, corporate industries,
BPO, IT,
ITES and many others. The city's economy is primarily dependent on
these industries and the service industry of the city adds to the
overall GDP growth.
Delhi is not rich in agriculture except for the fact that there are
some agricultural lands in the outskirts of Delhi. The major crops
grown in the capital include wheat, gram, Bajra and Jowar. Animal
husbandry is another profitable industry in Delhi with optimum and
surplus dairy production to meet the consumption within the city as
well as outside Delhi.
Delhi is not rich in raw materials and has limited mineral resources.
However, deposits of building & road making materials and China clay
are found in some parts of the city. The building and road making
material comprises sand, stone and bajri. The quartzite rock available
on the ridge is very useful for the manufacturing of stone wares and
buildings. Kaolim is used as a principal raw material for refactory
industries and fire clay for brick manufacture and china ware.
Industrial Policy
Industrial policy of the government is aimed at promotion of industries
so that they achieve optimum level of production with minimum power,
less space and also achieve maximum employment of skilled and unskilled
labour.
Incentives By the Government
- Delhi Finance Corporation scheme for small and medium scale
industries
- Delhi Finance Corporation guidance for new businessmen and entrepreneurs.
- Loan schemes for businessmen who are unable to make promoters'
contributions.
- Delhi State Industrial Development Corp. (DSIDC) provides support
to investors on project evaluation and market surveys.
- Assistance of DSIDC in marketing Small Scale Industries (SSI
) products
- The government gives subsidy of 50%, up to Rs. 0.05 million
of investments in anti-pollution equipment.
- Reservation for women entrepreneurs of up to 10% to be allotted
at Jhandewalan Complex.
- Finance scheme for women entrepreneurs by Delhi Finance Corporation
Industrial Division
Delhi State Industrial Development Corporation has constructed 840
locations to shape up the schemes launched by the Government of
India. It was named as "Half a Million Job Programme" in the year
1973-1974.
Out of these sheds, most of them had been allotted to unemployed
educated group with some being given to associates of DSIDC and
some allotted for the purpose of export units.
Delhi State Industrial Development Corporation has also constructed
446 Industrial sheds under SFC scheme which comes under Delhi's
Master Plan. These are:
- Okhla Computer Complex (Computer related)
- Rohtak Road Indl. Complex (General)
- Kirti Nagar Packing Complex (Timber related & Packing)
- Mangolpuri Engg. Complex (Light Engg.)
DSIDC has in place all the infrastructure facilities to cater the
daily needs of the allotees of the Industrial sheds. Infrastructure
facilities included kiosks, shops, canteen and office space. The government
allots these properties on monthly license basis to banks, telegraph
offices ad other public undertakings.
In order to provide infrastructural facilities to these units, DSIDC
constructed Kiosks, Shops and Canteen block/office space and allotted
these properties on monthly license fee basis to Banks, Post & Telegraph
Office and other public Sector Undertakings to cater the daily needs
of allotees of Industrial sheds without traveling to far-off places.
BANKS IN DELHI
List
of Foreign Banks in Delhi
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ANZ Grindlays Bank
Mercantile House,
Kasturba Gandhi Marg
Tel: 3361091 |
Bank of America
Hansalaya building
15 Barakhamba Road
Tel: 3722333
(24 hours ATM) |
American Express
Hamilton House,
A-Block, Connaught Place,
Ph:3327602/6134/4765
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ABN Amro
DLF Centre, Sansad Marg
Tel: 3755130, 3755407Banque National de Paris
Hansalaya building,
15, Barakhamba Road
Tel: 3312836,3324211 |
Citibank
Jeevan Bharati Building
124, Connaught Circus
Tel: 3712484, 3714211(24 hours ATM) |
Standard Chartered Bank
17 Sansad Marg
Tel: 3368888 |
The Bank of Tokyo Ltd.
Jeevan Vihar
3 Sansad Marg
Tel: 3360052 |
Deutsche Bank
Tolstoy House
15-17 Tolstoy Marg
Tel: 3721150/51 |
Hong Kong Bank
28, Kasturba Gandhi Marg
Tel: 3716000 (24 hours ATM) |
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