Top 5 Richest States in India
When a topic comes around India, some of the few things people would mention are Bollywood, culture, cricket, population, and economy. Besides this, there are many other factors to consider when learning more about its richness. You can take the word richness literally because this post is all about the economy. Being a secular country, many states have different forms of living habits. There are a lot of factors, such as education level, employment, interest rate, unemployment, and inflation. Imperialism is the ideology followed in India, so the governance is convenient for the people. Being the 5th ranked country in GDP globally, India has much to cherish economically.
Richest state in India
In this post, you will learn a lot about the top 5 richest state in India and their economic potential:
Maharashtra:
Maharashtra is the richest state in India because it has a Gross State Domestic Product of more than $400 billion. Mumbai is the greatest commercial and finance hub in India, and Maharashtra is a state that excels in both industry and agriculture. It’s prevalent in agriculture, engineering, and textiles.
In Mumbai, India conducts most of its financial activities, including stock exchanges and major banks. The city’s port facilitates trade with India. As a result, the state becomes wealthy. Since it excels at business and farming, it is the richest state in India.
Highlights:
| GDP | ₹38.79 lakh crore |
| NSDP Per Capita | ₹2.24 lakhs |
| Powerful sectors contributing to GDP | Manufacturing, Foreign Trade, Mass Communication, Petroleum, Aerospace, Technology, Fashion, Clothes, and Travel |
| GDP rank | 1 |
Tamil Nadu:
GSDP exceeds $300 billion in Tamil Nadu. Hence, it is the second wealthiest state in India and one of the top 5 richest state in india. The industrial and agricultural sectors of the state’s economy make an important contribution to its strength and diversity. The engineering, automotive, and textile sectors are well-known in Tamil Nadu. Numerous significant automakers call Chennai, a substantial hub for automotive engineering and production.
Leading textile producers, especially cotton and silk, are in the state. Being a major producer of several commodities, including rice, sugarcane, and groundnuts, the state has a sizable agricultural economy. Now the second wealthiest state in India, it has recently concentrated on growing its software and IT industries.
Highlights:
| GDP | ₹28.3 lakh crore |
| NSDP per capita Income | ₹2.73 lakhs |
| Powerful sectors contributing to GDP | Engineering, Pharmaceuticals, Clothing, Textile Products, Leather Products, Chemicals, and Cars and Auto Components |
| GDP rank | 2 |
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Gujarat:
Gujarat has a net worth of more than $150 billion. It’s wealthy because it does a lot of industry, has great buildings and roads, and is excellent at farming. The state produces cool crops like cotton and sugarcane because of its pleasant climate. Gujarat is located in western India, an ideal region for international trade. Large ports like Mundra and Kandla handle commodities like grain, gas, and oil. Gujarat is one of the richest states in India because of these extremely busy ports.
Highlights:
| GDP | ₹25.62 lakh crore |
| NSDP per capita Income | ₹2.41 lakhs |
| Powerful sectors contributing to GDP | Pharmaceutical, Chemical, Refinery and Petrochemical, Textile, Ceramic, and Automotive Industries. |
| GDP rank | 3 |
Karnataka
Karnataka is now India’s fourth richest state. Having a GSDP of more than $150 billion, Karnataka is the fourth richest state in india. The state is renowned for having a healthy and diversified economy, to which its industrial and agricultural sectors contribute significantly. A sizable section of the state’s workforce is employed in agriculture, well-known for producing sugarcane, rice, and coffee.
The state is connected to numerous biotechnology businesses and research facilities, making it a hub for research and development. Most of the state’s workforce works in the IT sector, contributing significantly to its economy.
Highlights:
| GDP | ₹25 lakh crore |
| NSDP per capita Income | ₹3.01 lakhs |
| Powerful sectors which contribute to GDP | Heavy Engineering, Automobile, Agro, Aerospace, Textile & Garment, and Biotech Industries |
| GDP rank | 4 |
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India’s Fifth Richest State: Uttar Pradesh
Due to its powerful and diverse economy, Uttar Pradesh (UP) is among the wealthiest states in India. Many of the state’s citizens rely mostly on its large and expanding agriculture industry for their income. In addition to being India’s top producer of potatoes, sugarcane, and food grains, Uttar Pradesh is also a major player in the dairy, horticulture, and chicken industries.
The well-known Taj Mahal in Agra, one of the world’s seven wonders, is part of Uttar Pradesh’s booming tourism economy. The state’s economy benefits greatly from the millions of tourists from all over the world. Additionally, the state has increasing IT and BPO jobs, which gives its citizens job options.
Highlights:
| GDP | ₹24.39 lakh crore |
| NSDP per capita Income | ₹0.836 lakhs |
| Powerful sectors contributing to GDP | Handicrafts, Handloom, and Agriculture |
| GDP rank | 5 |
Bottom Line:
In terms of global GDP in 2024, India is ranked fifth. India’s economy is diverse and growing quickly because of the country’s leading industries in manufacturing, services, information technology, and agriculture.
The financial system and economy of a nation are similar. It makes people’s lives better. Many people can find work and make more money while the economy is booming.
They can now purchase necessities like food and clothing. The government also receives funding, which it uses for roads, hospitals, and schools.
An economic recovery facilitates international trade and the production of new goods, Similar to a large circle. A nation is better off when its citizens can work and make purchases. Thus, the nation’s happiness and strength depend on a robust economy and well-lived citizens. From those mentioned above, the top 5 richest states in India, you can learn the economy of the particular states and their status.
FAQs on Richest state in India
Q. Which is the richest state in India?
Maharashtra is India’s richest state, with a GDP of ₹38.79 lakh crore.
Q. How are GDP and NSDP per capita calculated?
A country or region’s average income per person is determined by dividing its total economic production by population; in turn, we can get the result of GDP and NSDP per capita.
Q. What is the rank of India’s Global GDP?
India is now ranked 5th. In 2024, the world’s largest economies will be the United States of America, China, Japan, Germany, and India.
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