Top 10 Richest States in India by GDSP and GDP Per Capita

India, the world’s fifth-largest economy, is on a remarkable growth trajectory, aiming to become the third-largest by 2030. The country’s economic progress is significantly shaped by its states, each contributing uniquely to the national GDP. Gross State Domestic Product (GSDP) and GDP per capita are crucial indicators that reflect the economic health and developmental status of these states. Here’s a detailed analysis of the top 10 richest states in India by GSDP and GDP per capita in 2024.

What is GSDP and GDP Per Capita?

• Gross State Domestic Product (GSDP): This represents the total value of goods and services produced within a state, reflecting its overall economic output.
• GDP Per Capita: Measures the average economic output per person in a state, indicating the standard of living.

The data for GSDP and GDP per capita are derived from the 2024-25 Budget estimates and Economic Advisory Council reports, offering a comprehensive overview of India’s richest states.

Top 10 Richest States in India by GDSP and GDP Per Capita

India’s economic landscape is shaped by its states, each contributing to the nation’s growth. The Gross State Domestic Product (GSDP) and GDP per capita are vital metrics to gauge the economic performance of these states. Here’s a snapshot of the top 10 richest states in India in 2024:

1. Maharashtra: The Economic Powerhouse

• Projected GSDP (2024-25): ₹42.67 lakh crore
• GDP Per Capita (2022-23): ₹2.89 lakh
• State Share of National GDP: 13.3%

Maharashtra leads the pack as India’s richest state, home to Mumbai, the financial capital. Hosting institutions like the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), along with industrial giants such as Reliance and Tata, Maharashtra is the nucleus of India’s financial and industrial sectors. Bollywood further adds to its economic vibrancy.

Check Here: Difference Between BSE and NSE

2. Tamil Nadu: The Detroit of Asia

• Projected GSDP (2024-25): ₹31.55 lakh crore
• GDP Per Capita (2023-24): ₹3.50 lakh
• State Share of National GDP: 8.9%

Tamil Nadu is renowned for its robust industrial base, especially in the automotive, textiles, and IT sectors. Nicknamed the “Detroit of Asia,” Tamil Nadu’s strategic infrastructure and investment policies attract significant global attention.

3. Karnataka: The IT Hub

• Projected GSDP (2024-25): ₹28.09 lakh crore
• GDP Per Capita (2022-23): ₹3.31 lakh
• State Share of National GDP: 8.2%

Karnataka, led by Bengaluru, India’s Silicon Valley, has become a global IT powerhouse. Its thriving tech and aerospace industries, alongside a flourishing startup ecosystem, position Karnataka as a major contributor to India’s digital economy.

4. Gujarat: The Industrial Giant

• Projected GSDP (2024-25): ₹27.90 lakh crore
• GDP Per Capita (2022-23): ₹3.13 lakh
• State Share of National GDP: 8.1%

Gujarat excels in manufacturing, petrochemicals, and diamond exports. Its business-friendly policies and robust infrastructure make it a preferred destination for industrial investments, reinforcing its reputation as an economic giant.

5. Uttar Pradesh: The Most Populous State

• Projected GSDP (2024-25): ₹24.99 lakh crore
• GDP Per Capita (2022-23): ₹0.96 lakh
• State Share of National GDP: 8.4%

Uttar Pradesh, despite its lower GDP per capita, leverages its vast population and agriculture-driven economy. Its contribution to the national GDP highlights its potential as a growing economic hub.

6. West Bengal: The Cultural Hub

• Projected GSDP (2024-25): ₹18.80 lakh crore
• GDP Per Capita (2022-23): ₹1.57 lakh
• State Share of National GDP: 5.6%

West Bengal’s diversified economy, driven by agriculture, manufacturing, and services, is pivotal to eastern India’s development. Kolkata’s strategic location as a port city amplifies its economic importance.

7. Rajasthan: The Land of Opportunities

• Projected GSDP (2024-25): ₹17.80 lakh crore
• GDP Per Capita (2023-24): ₹1.67 lakh
• State Share of National GDP: 5.0%

Rajasthan’s economy thrives on mining, agriculture, and tourism. With vast natural resources and heritage sites, the state has immense economic and cultural potential.

8. Telangana: The Rising Star

• Projected GSDP (2024-25): ₹16.50 lakh crore
• GDP Per Capita (2023-24): ₹3.83 lakh
• State Share of National GDP: 4.9%

Telangana’s growth story is centered around Hyderabad, a global IT and pharmaceutical hub. Its innovative policies and investments in tech infrastructure have propelled it to prominence.

9. Andhra Pradesh: The Coastal Powerhouse

• Projected GSDP (2024-25): ₹15.89 lakh crore
• GDP Per Capita (2022-23): ₹2.70 lakh
• State Share of National GDP: 4.7%

Andhra Pradesh’s extensive coastline supports thriving ports, fishing, and agriculture industries. Its strategic location and growing industrial base make it a key contributor to India’s economy.

10. Madhya Pradesh: The Emerging Economy

• Projected GSDP (2024-25): ₹15.22 lakh crore
• GDP Per Capita (2023-24): ₹1.56 lakh
• State Share of National GDP: 4.5%

Madhya Pradesh’s economy is bolstered by agriculture, forestry, and infrastructure projects. Its growing economic indicators position it as a promising contender among Indian states.

Key Takeaways

• Top Performers by GSDP: Maharashtra, Tamil Nadu, Karnataka.
• Top Performers by GDP Per Capita: Telangana (₹3.83 lakh), Tamil Nadu (₹3.50 lakh), Karnataka (₹3.31 lakh).
• Emerging States: Madhya Pradesh and Telangana showcase significant economic potential.

Conclusion

India’s economic growth is a collaborative effort, with states like Maharashtra, Tamil Nadu, and Gujarat leading the charge. These states’ unique strengths—be it Maharashtra’s financial hub, Tamil Nadu’s industrial prowess, or Gujarat’s manufacturing excellence—drive the national economy forward. As India strives to achieve its $7 trillion GDP goal by 2030, the combined contributions of its states will play an instrumental role in shaping the nation’s economic future.

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