Alphawise City Vibrancy Index (ACVI) is a measure of the drivers of urbanization. This index represents the relative growth of urbanization in the select cities of the country. The key drivers include infrastructure, job creation, modern consumer services and the capability to mobilize savings.
Urban consumption growth appears to be showing signs of improvement and given India’s favorable demographics and rising disposable income. Overall ACVI has increased 5 per cent for the six-month period ending March 2015 while consumption index rose 8 per cent, job opportunities index rose 5 per cent and the financial infrastructure index rose 2 per cent in the same period. Bank ATMs have been the key driver of growth as the annual growth in ATMs has been 25 per cent for the top 200 cities.
The fastest growing consumption segments for the top 200 cities include multiplexes, retail apparel and restaurants. Bengaluru, Pune and Chandigarh are the most vibrant cities. Chandigarh and Raipur are top ranked in the consumption index, Bengaluru and Pune lead in job opportunities and Nashik and Varanasi rank at the top in the financial infrastructure index- the report said.
Among the top 200 cities by population, Noida, Gurgaon, Hisar, Bengaluru and Pune are the most vibrant ones. Noida, Gurgaon and Chandigarh rank the highest in the Consumption Index. In terms of job opportunities, Noida, Gurgaon and Bengaluru lead the pack and Belgaum, Faizabad, and Mahbubanagar are the top 3 for financial penetration, the report added.
Source : IBEF secondary research