Financial Daily from THE HINDU group of publications
Wednesday, Apr 12, 2006
Financial Daily from THE HINDU group of publications Wednesday, Apr 12, 2006 |
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Economy Industry & Economy - Urban Development `Quality of life in Indian cities set to improve' Our Bureau
New Delhi , April 11 Increased investments from multinationals and foreign institutional investors could lead to further improvement in the quality of living standards in Indian cities over the next four to five years, according to a survey conducted by HR consultancy firm, Mercer. Mercer's annual `Worldwide Quality of Living Survey' states that though cities in India generally rank lower than their Chinese counterparts, they are showing signs of development in the Asia-Pacific region. "Significant investments from multinationals setting up operations in India may lead to improvements, boost economic growth and contribute to economic stability. "In turn, this will encourage the local authorities to focus on improving quality of living standards. "The real impact of these investments, however, will be felt in the coming 4-5 years," said Ms Gangapriya Chakraverti, Business Leader of Human Capital Product Solutions at Mercer, India.
Covers 350 cities
Mercer's survey covers more than 350 cities across the globe. Each city is based on an evaluation of 39 criteria, including political, social, economic and environmental factors, personal safety and health, education, transport and other public services. While Zurich and Geneva in Switzerland, Vancouver in Canada and Vienna in Austria lead the pack, Delhi and Mumbai are ranked at 150 in the survey and Bangalore and Chennai have been ranked 153 and 160, respectively. The Indian cities have, however, been able to improve their rankings from last year. While Delhi (61 index points) moved up from 153 last year to 150 this time around, Mumbai (61 index points) moved up a notch from 151 last year.
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