Top 10 Richest States in India by 2023 GDP
India’s economic landscape is diverse, with certain states contributing significantly to the country’s Gross Domestic Product (GDP). Here are the top 10 largest economy states in India based on their Gross State Domestic Product (GSDP):
1. Maharashtra
- GSDP: ₹35.81 lakh crore (approximately $487 billion)
- Key Industries: Finance, textiles, petrochemicals, automobiles, information technology.
Maharashtra is the economic powerhouse of India, largely due to its finance, manufacturing, and service sectors. Maharashtra comes as the wealthiest when you account for the GDP of Indian states in 2023-24.
2. Tamil Nadu
- GSDP: ₹24.42 lakh crore (approximately $332 billion)
- Key Industries: Automotive, textiles, software, and hardware.
Tamil Nadu is the second largest state economy in India and also hosts the highest number of factories in the country. Tamil Nadu has historically been an agricultural state and largest producer of Turmeric, Drumstick and Coconut.
3. Gujarat
- GSDP: ₹20.53 lakh crore (approximately $280 billion)
- Key Industries: Chemicals, petrochemicals, pharmaceuticals, textiles, diamonds.
The state of Gujarat is the most industrialised in India, having the highest industrial output of any state in the union. Gujarat is ranked number one in the pharmaceutical industry in India and a major agricultural produce of cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products.
4. Karnataka
- GSDP: ₹19.05 lakh crore (approximately $290 billion)
- Key Industries: Information technology, biotechnology, aerospace, textiles.
Karnataka is one of the highest economic growth states in India and also recorded the highest growth rates in terms of GDP and per capita GDP. Agriculture is the primary occupation of most of Karnataka.
5. Uttar Pradesh
- GSDP: ₹21.73 lakh crore (approximately $260 billion)
- Key Industries: Agriculture, manufacturing, handicrafts, information technology.
Uttar Pradesh is the most populous state in India and today the state is the fifth largest among states in India. Varanasi, Ayodhya, Mathura and Prayagraj were among the most visited cities of Uttar Pradesh.
6. West Bengal
- GSDP: ₹15.93 lakh crore (approximately $217 billion)
- Key Industries: Agriculture, textiles, information technology, jute, tea.
West Bengal primary business is worked as a financial hub of Eastern India and dependent on agriculture and medium-sized industry like jute and tea industry.
7. Rajasthan
- GSDP: ₹12.72 lakh crore (approximately $173 billion)
- Key Industries: Mining, agriculture, tourism, textiles, handicrafts.
The state is known as mineral-rich state of India with mines of gold, silver, sandstone, limestone, marble, rock phosphate, copper and lignite. Also one of the leading producer of cement and salt in India.
8. Telangana
- GSDP: ₹12.50 lakh crore (approximately $170 billion)
- Key Industries: Information technology, pharmaceuticals, textiles.
Telangana is one of the fastest-growing states in India with IT services and Agriculture. Hyderabad nicknamed as Cyberabad house the major software industries in the state.
9. Andhra Pradesh
- GSDP: ₹12.19 lakh crore (approximately $166 billion)
- Key Industries: Agriculture, mining, textiles, automobiles.
The economy of Andhra Pradesh dependent on agriculture and also ranked the best state in India for ease of doing business in the country.
10. Madhya Pradesh
- GSDP: ₹12.19 lakh crore (approximately $166 billion)
- Key Industries: Agriculture, mining, textiles, automobiles.
The economy of Madhya Pradesh coming from large, and small manufacturing and service industries. Indore, Bhopal, Gwalior and Jabalpur districts are the top 4 districts of Madhya Pradesh in terms of highest output and tourism, medical and infrastructural growth.
Takeaways:
These states are largest economy states in India and shown remarkable economic growth of industrial and agricultural activities, infrastructure and business environment. The economy of Odisha is one of the fastest growing economies in India.
If you have any more questions or need details on specific aspects of these states, feel free to ask!
