When we talk about top 10 richest cities of India, Hyderabad is worth the mention. The city is known for its rich history, food, and its multi-lingual culture, both geographically and culturally. It has an estimated population of around 8 million, making it 4th largest city in India, while the population of the metropolitan area was estimated above 9 million. Religiously and culturally, the city is united with Hindus, Muslims, and Christians.
The economy of Hyderabad, is based on traditional manufacturing, the knowledge sector, and tourism. Starting in the 1990s, the economic pattern of the city changed from a primarily service hub to a more diversified economy, but the service industry remains a major contributor.
The city is the largest contributor to the state's GDP (Gross domestic product) and state tax. IN 2011, Hyderabad generated revenues of ₹700,000 million (US$9.8 billion) and contributed a third of the state's tax revenue. In 2019, the GDP (PPP) was US$83.5B, placing the city fourth in India and 93rd in the world. Hyderabad and its suburbs house the highest number of special economic zones among India's cities.
The World Bank Group ranked the city as the second best Indian city for doing business in 2009. In 2020, the economic analysis group GaWC ranked Hyderabad in its second tier (Beta- World City) of cities by importance. In 2011, DTZ ranked Hyderabad as world's third most affordable office location,[38] while Business Today ranked Hyderabad as the fourth best city to live in India. Hyderabad witnessed a high growth in the real estate business, making it among the top five concentrated cities for housing in India. In 2007–08, the city's prime residential areas of Banjara Hills and Jubilee Hills reached the highest growth percentage in India. The Economic Times evaluated Banjara Hills to be worth US$20.7 billion.
Hyderabad is among the global centers of information technology for which it is known as Cyberabad (Cyber City). The city's IT sector includes the IT-enabled services, business process outsourcing, entertainment industries, and Financial services. During 2008–09, Hyderabad's IT exports reached US$ 4.7 billion, and 22% of the NASSCOM's total membership is from Hyderabad. The development of a township with related technological infrastructure called HITEC City prompted global and particularly US—based companies to establish their operations in Hyderabad. The Deloitte, Franklin Templeton Investments, GE Capital, Accenture, HSBC, Bank of America, ABN Amro, S&P Capital IQ, Ernst & Young, KPMG, Capgemini, Genpact are some of the financial services companies with offices in the city.
