New Delhi is the most competitive city in India

New Delhi has topped the list of most competitive cities for the third year in a row with a score of 69.732, in the City Competitiveness Index.

The City Competitiveness Index, by the Institute for Competitiveness, India is based on four pillars of competitiveness that are factor condition, demand conditions, context for strategy and rivalry and supporting and related industries.

The city has demonstrated a phenomenal growth over a period of time by balancing the demand and development of the city in equal proportion.

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The financial capital of India, Mumbai with a score of 67.856 was ranked second in the Index.

The budding growth centres of the economy that is the Tier-2 and 3 cities such as Agra, Bhopal, Kochi, Madurai, Patna, Varanasi, and Vishakhapatnam etc. also shifted upwards and downwards on the City Competitiveness Index 2012.

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3. Chennai

With a score of 62.323, Chennai leads among South Indian cities bagging the third position.

The future cities of India consist of a huge pool of opportunities in its existing challenges and with their individual competitive advantage are making their way to compete with the global cities on certain parameters, says the Institute for Competitiveness report.

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4. Hyderabad

Hyderabad with a score of 61.782 is at the fourth position.

Indian cities have the required potential to make their mark across the globe. It is clearly evident with the high urbanization rate of these cities and by the trend of their growth.

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5. Kolkata

Kolkata has a score of 61.464 in the Index.

The report states that Indian cities must work on their strong areas and use it constructively to attract people from different genres.

They should try to built a brand of their own and not follow any other global city.

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6. Gurgaon

The report points out that every Indian city should have five components in its strategy that is, vision, entrepreneurship, specialisation, social cohesion and proper governance structure in order to improve their competitiveness and transform themselves into successful cities.

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7. Bengaluru

India's IT capital Bengaluru is ranked at the 7th position.

Commenting on this year's rankings, Amit Kapoor, Honorary Chairman, Institute for Competitiveness said, "Undoubtedly, cities are the drivers of any economy. Their growth will enhance the growth of states and eventually that of the country. In the past few years they have risen from their age-old shells and are proving their potential on the global front."

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8. Noida

Noida holds the 8th position on the India City Competitiveness Index 2012 and with the improved position it is set to give tough competition to other metro cities in the index.

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9. Pune

Pune slipped five positions to be ranked 9th in the list.

The report is an indicative of how the corporate world selects the cities for investing and also how governance is important in assessing the level of competitiveness and diversity spread across these cities.

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10. Ahmedabad

Over the past decade, many cities have changed sharply, improving the quality of life they provide, says the India City Competitiveness report.