Richest States in India: India is not only known for its culture, but also its economic scenario is diverse. Some Richest States come ahead in terms of gross domestic product. Keeping this in mind, we have prepared a list of the 5 richest states of India which have contributed significantly to advancing the country’s overall economic economy. These states provide millions of jobs every year, and these states are also discussed a lot abroad. This article will examine the richest states of India and try to find out the major reasons for promoting economic strength and development.
Top 5 Richest States in India: List
| S. No. | State | GSDP |
|---|---|---|
| 1. | Maharashtra | ₹31 trillion |
| 2. | Tamil Nadu | ₹20 trillion |
| 3. | Gujarat | ₹20 trillion |
| 4. | Uttar Pradesh | ₹19.7 trillion |
| 5. | Karnataka | ₹19.6 trillion |
| 6. | West Bengal | ₹13 trillion |
| 7. | Andhra Pradesh | ₹11.3 trillion |
What is meant by GSDP?
GSDP is defined as the total market value of all final goods and services produced within a state in a given period of 1 year. And the full form of GSDP is (Gross State Domestic Product).
Top Richest States in India By Economic Rankings 2024
Here is the list of richest states in India that have made it to the list of richest states in India in terms of Gross State Domestic Product (GSDP).
1. Maharashtra
Maharashtra, the financial capital of India, ranks first in the list of richest states with a GSDP of ₹31 Trillion. It is home to Mumbai, the country’s largest and most economic hub, hosting major banks, multinational corporations and stock exchanges. The city’s port handles a significant portion of India’s maritime trade, which strengthens its economic strength. Maharashtra has gained recognition for its automotive technology, consumer goods sector and mainly through Bollywood. Maharashtra ranks first in the list of richest states of India.
2. Tamil Nadu
The region also includes Tamil Nadu, whose economic strength and manufacturing sector form the backbone of its GSDP of over Rs 20 trillion. The state is known for its diverse range of clothing and apparel products, which it exports to domestic as well as international markets. The strong presence of the automotive industry and players in the state makes it strong globally and domestically. Tamil Nadu is also known for its IT ecosystem and attracts investment and talent from across the world.
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3. Gujarat
If we are talking about the list of India’s richest states, how can the name of Gujarat not be included in it? Gujarat is known for its strategic location and visionary policies, with a GSDP of ₹20 trillion, it is mainly the gateway to international trade and provides a competitive edge to the thriving petrochemical and pharmaceutical sector. SEZs in Gujarat also do construction work, attracting many businesses and investors. Sardar Sarovar Dam is also located in Gujarat and the Prime Minister of India, Narendra Modi also hails from Gujarat.
4. Uttar Pradesh
Uttar Pradesh ranks 4th in the list of rich states. It is often called the bread basket of India and is known for its important role in agricultural production worldwide. Its total GSDP is ₹19.7 trillion. Various types of crops are grown in this state, including wheat, rice, Cowper, and potatoes. Along with agriculture, (UP) Uttar Pradesh is also focusing on tourism, which will accelerate the growth of its economy. It is a mixture of traditional agriculture with modern services and also contributes significantly to food security.
5. Karnataka
Karnataka is ranked fifth among the 5 richest states in India with a GSDP of ₹19.6 Trillion. Typically known as the Silicon Valley of India, it is home to technology firms and startups worldwide and is also a leader in biotechnology research and development. The sector not only contributes significantly to the state’s economy but also attracts talent from around the world.
6. West Bengal
The list of the top 7 richest states in India includes the vibrant economy of West Bengal, with a GSDP of over ₹13 trillion. Kolkata, the capital of West Bengal, has historically been a trading port and remains a hub of commerce to this day, inherited as the former capital of British India. And you will find many influences on the architecture, culture and intellectual life of this state. Its trade generally includes major industries like tea, steel and textiles, which have made its economy reach such heights.
7. Andhra Pradesh
As a major economic player, Andhra Pradesh has secured the seventh position in the list of India’s richest states, marked by an impressive GSDP of about ₹11.3 trillion. With its commitment to rise in the list, it has formulated various strategies to rise in the field of development and emphasis will be given to information technology and biotechnology. Also, the capital of Andhra Pradesh state, Amaravati is being developed with state-of-the-art facilities. Its global target will be to attract IT giants and biotech industries along with pharma.
Conclusion
Through this article, we have provided the list of the 5 five richest states in India or the states of India which are commonly known around the world mainly for business and IT sector biotechnology and other business industries.
FAQ
Which state in India has the highest per capita income?
According to the Ministry of Statistics and Program Implementation (MoSPI), Telangana ranks first among the states with the highest income at current prices for the financial year 2022-23, with a per capita income of ₹3,08,732. Karnataka is in second place with a per capita income of ₹3,01,673 and Haryana is in third place with a per capita income of ₹2,96,685.
Which state is no. 1 in GDP in India?
The number 1 state in GDP in India is Maharashtra. Which earned Rs 38.79 Lakh crore in the financial year 2023-24