Top 10 Richest States In India 2021: India is one of the major economies of the world and its economy mainly depends upon its states economic performance. India has 28 states and in this article, we are going to list the Top 10 Richest States in India.

List of Top 10 Richest States in India 2021

1. Maharashtra – ₹32.42 lakh crore (US$467 billion)

Maharashtra is the richest state in India with a gross state domestic product (GSDP) of ₹32.42 trillion equivalent to US$467 billion. The state is located in the westernmost part of India occupying a large portion of the Deccan Plateau. It is India’s second-most populous state and third-largest state by area.

Maharashtra is the biggest industrialised state in India and its capital, Mumbai is also known as the financial capital of India and a commercial hub The economy of Maharashtra is largely dependent upon manufacturing, international trade, Mass Media, aerospace, technology, petroleum, fashion, apparel, and tourism.

Also, the two main stock exchanges NSE and BSE, and commodity exchanges MCX and NCDEX are located in Mumbai. Maharashtra attracts most of the industrial investments from domestic as well as foreign institutions because of its infrastructure and facilities.

Maharashtra also has the largest proportion of taxpayers and its stock markets transact almost 70 percent of India’s stocks. It is the manufacturing hub for some of the largest PSU companies like Hindustan Petroleum Corporation and Oil India Ltd, making it one of the richest states in India. [Source]

2. Tamil Nadu – ₹20.92 lakh crore (US$297 billion)

Tamil Nadu is one of the richest states in India and it is also the fourth largest state of India in terms of area. The state is located on the southern coast of India, surrounded by states like Andhra Pradesh, Karnataka, and Kerala, and the Indian Ocean on the south, and the Bay of Bengal on the east.

Tamil Nadu’s economy primarily depends upon the manufacturing sector and industries like automobiles and auto components, engineering, pharmaceuticals, garments, textile products, leather products, chemicals, etc. The state ranks 1st among the states in terms of the number of factories and industrial workers.

Tamil Nadu’s Gross State Domestic Product (GSDP) is grown at a Compound Annual Growth Rate (CAGR) of 12.20% to reach Rs. 20.92 trillion (US$ 299.32 billion) between 2015-2020. Also, the Net State Domestic Product (NSDP) grown at a CAGR of 11.93% by touching Rs. 16.59 trillion between 2015-20.

Tamil Nadu has a very good infrastructure with an excellent road and rail network. the state has three major ports, 15 minor ports, and eight airports across providing excellent connectivity. As of July 2021, Tamil Nadu has a total installed power generation capacity of more than 32 gigawatts (GW). [Source]

3. Gujarat – ₹18.85 lakh crore (US$270 billion)

The state of Gujarat is located on the west coast side of the country and has the longest coastline of 1,600 kilometers amongst all the states in India. It shares its borders with states like Rajasthan, Madhya Pradesh, Maharashtra, and the Union Territories of Daman and Diu and Dadra and Nagar Haveli. The Arabian Sea bound the state on the west and the southwest side.

Gujarat is one of the most industrialised states in India and Gujarat’s Gross State Domestic Product (GSDP) was approximately Rs. 18.85 trillion equivalent to US$ 269.70 billion in the financial year 2020-21. Gujarat’s GSDP grew at a CAGR of 12.87%, between 2015-2020.

Gujarat has also recognised the petroleum capital of India due to the presence of large petroleum refineries set up by private and public sector companies.

Gujarat is also the world’s largest producer of processed diamonds, estimating around 72% of the world’s processed diamond share and 80% of India’s diamond exports. The state also accounts for 65-70 percent of denim production in India, making it the largest manufacturer of denim and the third-largest producer in the world.

The state has 42 ports, 18 domestic airports, and one international airport, and according to the Department for Promotion of Industry and Internal Trade, the Foreign Direct Investments (FDI) inflow in Gujarat approached around US$ 42.6 billion between April 2000 and September 2020.  [Source]

4. Karnataka – ₹18.06 lakh crore (US$256 billion)

Located in the south of India, Karnataka is one of the richest states in India. The state is bounded by the Arabian Sea on the west and states like Goa, Maharashtra, Andhra Pradesh, Tamil Nadu, and Kerala.

Karnataka’s Gross State Domestic Product (GSDP) stands at 18.06 trillion (US$ 256.17 billion) in the financial year 2019-2020. The GSDP (in Rs.) of the state is growing at a CAGR of 11.56% in the last 5 years. The state’s per capita GSDP stands at Rs. 253,444 equivalent to US$ 3,595 in the financial year 2019-20 and growing at a CAGR of 11.70% between the last 5 years.

Karnataka’s economy mainly depends upon sectors like information technology, automobile, agro, aerospace, textile and garment, biotech, and heavy engineering industries. The state is the IT hub of India and home to the fourth-largest technology cluster in the world and has a sector-specific Special Economic Zone for key industries like IT, biotechnology, and engineering, food processing, and aerospace.

As per the Department for Promotion of Industry and Internal Trade (DPIIT), the Foreign Direct Investment (FDI) and foreign equity inflow stand at US$ 7,948.53 million between October 2019 and September 2020. [Source]

5. Uttar Pradesh – ₹17.91 lakh crore (US$254 billion)

Home to nearly 200 million people, Uttar Pradesh is the most populous state in India. The state shares its borders with Nepal on the north, the other Indian states like Uttarakhand, Himachal Pradesh, Haryana, Delhi, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, and Bihar.

The Gross State Domestic Product (GSDP) of Uttar Pradesh stands at Rs. 17.91 trillion equivalent to US$ 254.12 billion with a growth of 9.5% CAGR in the last five years.  Uttar Pradesh has various famous tourist destinations and among those Taj Mahal is the most famous one.

Uttar Pradesh’s GSDP mainly depends upon agriculture and industrial products. The state is the largest producer of food grains and contributes around 17.83% share in 2016-17 across the country. Major food grains like rice, wheat, maize, millet (bajra), gram, pea, and lentils are mostly produced in the state.

As per the Department for Promotion of Industry and Internal Trade (DPIIT), Uttar Pradesh attracted Foreign Direct Investment (FDI) equity inflow worth US$ 467.57 million between October 2019 and September 2020. In 2019 alone, 147 investment intentions meriting Rs. 16,799 crore equivalent to US$ 2.40 billion were filed in the state. [Source]

6. West Bengal – ₹14.44 lakh crore (US$206 billion)

Situated in the eastern part of India, West Bengal is one of the richest states in India and the state shares its borders with Jharkhand, Bihar, Odisha, Sikkim, and Assam. The state also shares international borders with countries like Bangladesh, Bhutan, and Nepal.

According to ibef.org, the Gross State Domestic Product (GSDP) of West Bengal is estimated at Rs 14.44 trillion (US$ 206.64 billion) with an annual growth of 12.62% in the last 6 years.

West Bengal is the largest producer of rice in India with a totalled rice production of 14.99 million tonnes in 2017-18. The state is also the major producer of fish and during 2018-19, the state produced 1.85 million tonnes of fish. It is also the second-largest tea-producing state in India. [Source]

7. Rajasthan – ₹10.21 lakh crore (US$140 billion)

Rajasthan is one of the richest states of India as well as the largest state of India in terms of area. The state situated in the northwest part of the Indian subcontinent. The state is bordered by Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, and Gujarat.

The state’s economy primarily depends upon agricultural products with nine agro-climatic zones and various types of soil. The state is also one of the largest mineral-producing states in India. Rajasthan is famous for the production of decorative stones, such as marble, sandstone, and granite.

Tourism also contributes significantly to the economy and historic palaces, like Jaipur and Udaipur offers luxurious tourism opportunity.

The Gross State Domestic Product (GSDP) of Rajasthan is estimated at around ₹10.21 lakh crore with a Compound Annual Growth Rate (CAGR) of 10.71% in the last six years. [Source]

8. Andhra Pradesh – ₹9.73 lakh crore (US$138 billion)

Located in the Southern peninsula of India, Andhra Pradesh is one of the richest states of India. The state’s border is bound with states like Chhattisgarh, Odisha, Telangana, Karnataka, Tamil Nadu.

The state has a GSDP of ₹9.73 lakh crore equivalent to US$138 billion and its economy mainly depends upon the agriculture and service sector. Tourism also plays an important role in the state’s economy. The state also has good connectivity options, good power, airport, IT, and port infrastructure. [Source]

9. Telangana – ₹9.69 lakh crore (US$137 billion)

Formed in June 2014, Telangana is one of the richest states in India with Hyderabad as its capital. The state was formed as a result of the split of the state of Andhra Pradesh. The state shares its border with Andhra Pradesh, Maharashtra, Karnataka, Odisha, and Chhattisgarh.

Telangana’s Gross State Domestic Product (GSDP) is estimated at ₹9.69 lakh crore equivalent to US$137 billion Its capital city Hyderabad is the hub of information technology (IT) and pharmaceutical sectors. Other than that the state’s economy depends upon the agriculture, tourism and the mining sector. [Source]

10. Madhya Pradesh – ₹9.09 lakh crore (US$130 billion)

Located in central India, Madhya Pradesh is one of the richest states in India. The state shares its border with states like Uttar Pradesh, Chhattisgarh, Maharashtra, Gujarat, and Rajasthan. Economically, It is one of the fastest-growing states in the country.

The state’s Gross State Domestic Product (GSDP) for 2019-20 stands at Rs. 9.09 trillion equivalent to US$ 130 billion. The state’s GSDP grew at a CAGR of 13.78% in the last 5 years. The state is rich with natural resources like fuel, minerals, agricultural products, etc. [Source]

This Post Has 3 Comments

  1. Garvik Dutta

    You not need to worry

  2. MALAYALI

    WHY NOT GIVING PREFERENCE TO KERALA!!!!

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