Jaipur and Surat will emerge as new metros by 2018: Survey

Jaipur and Surat will emerge as two new A-class metros by 2018, with a combined household income of over Rs 80,000 crore, predicted an EY report titled ‘‘India’s growth paradigm: How markets beyond metros have transformed.’

Jaipur is expected to record a GDP growth of 8.7 % while Surat will record a GDP of 10.3% during these two years.

Within  two years, both the cities will cross the Rs 80,000 crore threshold with total consumption levels to reach 75%-80% of metros like Pune and Ahmedabad.

These two cities have a total of 1.5 million TV households, similar to Pune and Kolkata combined.
“These cities have very good media penetration. When they hit the Rs 80,000 crore mark, we have seen a lot of spends increasing in the other metros at that time. Digital is one way where media penetration will go up. There will be more Hindi channels coming up, radio is happening more out there, print is well saturated, so that would yield impact,” said Ashish Pherwani, EY India media and entertainment advisory leader.

The report identifies 42 cities, which are expected to grow at 8.9 per cent compared to the 8 metros at present that are expected to grow at a CAGR of 8.3 per cent in 2015-20.

“Non-metro growth is outstripping the metros. There are clear cases of unmet demand in the top 50 cities in some sectors. This provides a huge opportunity for various sectors to widen and deepen marketing strategies,” he added.

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