Top 10 Richest States In India | GDP | Economy | Growth

Top 10 Richest States In India

Top 10 Richest States In India: Maharashtra is the richest State of India, being a very developed state of the country has a GDP of 467 billion US dollars. If we talk about India, do you know India is the third-largest economy globally, but still, it houses a large population of poor and helpless people? The enormity of these numbers implies the stories of India’s economic transition. Since India’s independence from the British reigns, many agencies were formed to collect and archive macroeconomic data.

Top 10 Richest States In India | GDP | Economy | Growth

In all these researches, there is a lack of standardization and adequate time series, which is essential for studying the relationship between long-run economic growth and the important role of inputs. Because of this pandemic situation, every country has an unstable economy. India is no exception as the Indian economy is at its edge. Even in this current situation, India has an expected GDP of 3.05 trillion dollars to 10.2 trillion dollars. India’scurrent GDP is increased right now by 0.4%. We have listed all the richest states of India on the GDP Basis only.

No 1. Maharashtra

Maharashtra is the richest state in India. This state is located on the westernmost part of India and occupies a large portion of the Deccan Plateau. It is India’s second-most populous state and is the third-largest, following its size.

  • It is one of the biggest industrialized and most advanced states in India. Its capital Mumbai is also known as the finance capital of India and is a commercial hub.
  • Maharashtra’s economy is very much dependent on activities like Manufacturing, Mass media, International Trade, fashion, apparel, and tourism.
  • The two main stock exchanges of the Indian Stock market, NSE and BSE, are located in Mumbai. Commodity exchanges MCX and NCDEX are also located there.
  • Maharashtra has the largest taxpayers, and 70 percent of Indian stock market transactions are from here.
  • The GDP of Maharashtra is 32.42 lakh crores that are equivalent to 467 billion US Dollars. 

No 2. Tamil Nadu

Tamil Nadu is the second richest state of India. In terms of area, it is the 4th largest state. This state is located on the southern coast of India and is surrounded by states like Andhra Pradesh, Karnataka, and Kerala on one side and by the Indian Ocean and the Bay of Bengal on the other.

  • The economy of Tamil Nadu depends mostly on manufacturing sectors, automobile industries, engineering, pharmaceuticals, textile products, leather products, garments, chemical factories, etc.
  • This state ranks number 1 in a Total number of factories and industrial workers.
  • This state is also one of the most advanced states of India. It has an excellent infrastructure and excellent road and railway networks.
  • This state has 3 major ports, 15 minor ports, and 8 airports altogether, providing it excellent connectivity.
  • As of July this year, Tamil Nadu also has a total installed power generation capacity of more than 32 gigawatts.
  • It has the second-highest GDP in India of INR 20.92 lakh crores, equivalent to 297 billion US Dollars.

No 3. Gujarat

Gujarat is located on the West coast of India. It has the longest coastline of almost 1600 km among all the other coastal states of India. It shares its borders with other states like Rajasthan, Maharashtra, Madhya Pradesh, and Union Territories of Daman and Diu. The Arabian sea has bound the state on the west and southwest side.

  • It is one most industrialized states of India and also one of the most advanced states of India.
  • Gujarati has been recognized as the petroleum capital of India due to the presence of large petroleum refineries there that public and private companies set up.
  • Gujarat of India is the world’s largest producer of processed diamonds. It has about 72% of processed diamond shares and exports 80% of diamonds from India.
  • Gujarat is also very good at connectivity. It has 42 ports, 18 domestic airports, and one international airport.
  • GDP of Gujarat is INR 18.85 lakh crores that are equivalent to 270 billion US Dollars.

No 4. Karnataka

Karnataka is located in Southern India and is bounded by the Arabian sea on its west and surrounded by states like Goa, Maharashtra, Tamil Nadu, Andhra Pradesh, and Kerala. Karnataka’s economy depends mainly on information technology, aerospace, agro, textile, biotech, and heavy engineering industries.

  • This state is also known as the IT hub of India and is the home of the 4th largest technology cluster in the world.
  • It has a sector-specific special economic zone for its key industries like IT, biotechnology, engineering, aerospace, etc.
  • In this state, the Foreign Direct Investment and Foreign equity inflow stand at 7948.53 million US Dollars.
  • GDP of this state is INR 18.06 lakh crores that are equivalent to 256 billion US Dollars.

No 5. Uttar Pradesh

Uttar Pradesh is the most populous city in India and is home to about 200 million people. This state shares its borders with Nepal on the north and other Indian states on all sides. This state is covered by Uttarakhand, Himachal Pradesh, Haryana, Delhi, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, and Bihar.

  • Uttar Pradesh’s economy mainly depends on Agricultural and industrial production.
  • This state is the largest food grain producer and contributes nearly 17.83% shared 2016-17 across the whole country.
  • Major food grains in India are grown here like rice, wheat, maize, Miller, gram, pea, and lentils.
  • The foreign direct investment and the equity inflow of this state are about 467.57 million US Dollars.
  • GDP of this state is INR 17.91 lakh crores that are equivalent to 254 billion US Dollars.

No 6. West Bengal

West Bengal is situated in the eastern part of India. It is also one of the richest states of India and shares its borders with Jharkhand, Assam, Bihar, Odissa, and Sikkim. It also has some international borders with Bangladesh and Nepal. West Bengal is famous for rice production in India. In rice production, it has totaled about 14.99 million tonnes in the year 217-18.

  • West Bengal is also the largest and major producer of fish in India and started producing 1.85 million tonnes of fish in the year 2018-19.
  • It is also the second-largest tea-producing state in India.
  • GDP of West Bengal is INR 14.44 lakh crores that are equivalent to 206 billion US Dollars.

No 7. Rajasthan

Rajasthan is the largest state of India in terms of area. It is situated in the North-Western part of India and is bordered by states like Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, and Gujarat. Rajasthan’s economy primarily depends on Agricultural products with the nine agro-climatic zones and various types of soils.

  • It is the largest mineral producer state in India and is very famous for producing decorative stones like marble, sandstone, and granite.
  • Rajasthan has many great historical places, and its tourism contributes significantly to its economy and GDP.
  • The current GDP of Rajasthan is INR 10.21 lakh crores that are equivalent to 140 billion US Dollars.

No 8. Andhra Pradesh

Andhra Pradesh is a small state located in the Southern peninsula of India. It is also one of the richest states of India. The border of this state is surrounded by Chhattisgarh, Odisha, Tamil Nadu, Telangana, and Karnataka.

  • Agriculture, Tourism, and the service sector play a significant role in this state’s economy.
  • This state is not so developed, but it still has good connectivity options. It has good power, airport, IT, and port infrastructure.
  • Currently, the GDP of Andhra Pradesh is 9.73 lakh crores that are equivalent to 138 billion US Dollars.

No 9. Telangana

Telangana was formed in June 2014. Hyderabad, a well-known city in India, is its capital. This state was formed as a result of a split of the state of Andhra Pradesh. It shares its borders with Andhra Pradesh, Karnataka, Chattisgarh, and Odisha.

  • Hyderabad is also well known for being the hub of information and technology and pharmaceutical sectors.
  • Other than this, the economy of this state mainly depends upon agriculture, tourism, and the mining sector.
  • Currently, the GDP of Telangana is INR 9.69 lakh crores that are equivalent to 137 billion US Dollars.

No 10. Madhya Pradesh

Madhya Pradesh is a part of central India. This state is surrounded by states like Uttar Pradesh, Chattisgarh, Rajasthan, Maharashtra, and Rajasthan. Economically it is one of the fastest-growing states in India.

  • This state is very rich in natural resources like fuels, agricultural products, and minerals.
  • The GDP of Madhya Pradesh is INR 9.09 lakh crores that are equivalent to 130 billion US Dollars.

FAQs

1. Which is the richest state in India in 2021?

Maharashtra is the richest city in India.

2. Which are the top 10 richest states in India?

Maharashtra, Madhya Pradesh, Telangana, Andra Pradesh, Rajasthan, West Bengal, Uttar Pradesh, Karnataka, Gujarat, and Tamil Nadu are the top 10 richest states in India.

3. Which is the best state in India in 2021?

Rajasthan is the best state in India in 2021.

4. Which state is fastest growing in India?

Gujarat is the fastest growing in India.

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