In this article, we will look at the Top 10 richest states in India by their nominal gross state domestic product (GSDP). The gross state domestic product (GSDP) is the sum of all value added in each state or union territory and serves as an alternative to the country’s gross domestic product (GDP). We will also explain in brief how these states are getting rich year after year.
Without further ado, let’s get started.
List of Top 10 richest states in India
|Rank||State||GDP in lakh crore|
|1||Maharashtra||32.34 lakh crore|
|2||Tamil Nadu||22.44 lakh crore|
|3||Uttar Pradesh||17.05 lakh crore|
|4||Gujarat||16.48 lakh crore|
|5||Karnataka||16.29 lakh crore|
|6||West Bengal||13.54 lakh crore|
|7||Rajasthan||10.21 lakh crore|
|8||Andhra Pradesh||10.19 lakh crore|
|9||Kerala||9.78 lakh crore|
|10||Telangana||9.78 lakh crore|
1) Maharashtra : GSDP of ₹32.24 Lakh Crore
With a GSDP of 32.24 lakh crore, Maharashtra is the richest state in India. The state is located in the western part of the country and is the second most populous and third largest in terms of area in India. The capital of Maharashtra is Mumbai, which is also known as the financial capital of India.
Maharashtra’s economy is primarily driven by its population, natural resources, and industrial base. The state’s population is large enough to support a strong industrial base, and its natural resources—such as coal, iron ore, and bauxite—provide the foundation for a number of industries.
Maharashtra is also known for its large agricultural sector which is responsible for almost one-third of the total production. The manufacturing and service sectors occupy the remainder of the economy.
Tourism is also a significant contributor to the state’s economy. Additionally, Maharashtra has an extensive and well-developed infrastructure, including airports, ports, and highways. As a result of all of these factors, Maharashtra is a very attractive place to do business.
2) Tamil Nadu: GSDP of 22.44 Lakh Crore
Tamil Nadu is the second richest state in India and is a major contributor to the Indian economy. The state’s major industries include textiles, agriculture, and information technology. Tamil Nadu also has a strong manufacturing sector, which includes automobile manufacturers and electronic equipment makers. The state’s main exports are agricultural products, textiles, and chemicals.
Tamil Nadu also has a strong financial sector, with several multinational corporations headquartered in the state. On top of that, Tamil Nadu has a well-developed infrastructure, with ports, airports and highways making it an important regional trade hub.
3) Uttar Pradesh: GSDP of 17.05 Lakh Crore
With the largest population in India, Uttar Pradesh ranks third among the richest states in India. According to the state budget for 2021-22, the gross state domestic product of Uttar Pradesh amounts to 17.05 lakh crores.
The Uttar Pradesh economy is seeing a boom as a result of its many important factors, chief among which is its increasing importance as an IT hub. Noida and Ghaziabad are both in Uttar Pradesh. As an increasing number of businesses move to these cities to take advantage of their strong infrastructure and availability of skilled workforce, Uttar Pradesh is quickly becoming an important center for information technology (IT) activity.
While the state’s agriculture and food industries are doing very well, the handicrafts, livestock, and weaving industries are also on the rise. Uttar Pradesh is also experiencing a boom in tourism, and the government of Uttar Pradesh is focusing on the development of infrastructure to support this growth.
4) Gujarat: GSDP of Rs. 16.48 Lakh Crore
With a GDP of 16.48 lakh crore, Gujarat is India’s fourth-richest state. It is also known as the country’s petroleum capital and is situated on India’s western coast. The Gujarat economy is one of the most diversified in India with major sectors including agriculture, pharma, petrochemicals, ceramics, textiles, automobile, and diamonds.
It has also been ranked as the world’s largest producer of processed diamonds as well as the third largest producer of denims. The state’s workforce is also well-educated and skilled, making it an attractive investment destination. Additionally, the state has a well-developed infrastructure, making it an ideal place to do business.
5) Karnataka: GSDP of 16.29 Lakh Crore
The state of Karnataka is the fifth richest in India. It has a gross domestic product of 16.29 lakh crore. Compared to other parts of the country, the state of Karnataka has seen the fastest growth in GDP in the last decade.
This state is well-known for its information technology (IT) sector, biotechnology, automobile industry, heavy engineering sector, aerospace, textiles, and garment industry. Many well-known companies such as Bharat Electronics Limited, Wipro, Infosys and Britannia Industries Limited have their headquarters in this state.
6) West Bengal: GSDP of Rs 13.54 Lakh Crore
West Bengal is India’s sixth wealthiest state, with a projected GDP of 13.54 lakh crore rupees in 2021-22. West Bengal’s economy is based on three main pillars – agriculture, industry and services. Agriculture accounts for about a third of the state’s GDP, industry contributes about a fourth, and services make up the rest.
West Bengal’s main exports are agricultural products such as rice, wheat, tea, cotton, potato and jute. from Durgapur, the state has a slew of steel mills. Kolkata’s port handles cargo ships from all over the world. Just to let you know, West Bengal is India’s second largest producer of tea and is home to the internationally renowned Darjeeling tea variety. The state also produces textiles, steel and silver.
7) Rajasthan: GSDP of ₹10.21 lakh crore
Rajasthan has a gross state domestic product (GSDP) of 10.21 lakh crore, making it India’s 7th richest state. The economy of Rajasthan is chiefly based on agriculture, mining, and tourism. The state has a wealth of natural resources, including copper, iron ore, lead, zinc and limestone. These resources have led to the development of various industries in the state, such as steel production and textiles. The state also has a strong agricultural sector, which contributes about one-third of its GDP.
8) Andra Pradesh: GSDP of ₹10.19 lakh crore
The total GDP of Andhra Pradesh is 10.19 lakh crore, which makes it 8th richest state in India. Andra Pradesh is one of the most agriculturally-productive states in India. The state has a significant contribution to the country’s foodgrain production. Andhra Pradesh is also endowed with mineral resources like sandstone, limestone, marrble, copper, silver and gold. These resources have helped the state to emerge as a major player in the industrial sector. Tourism is another important contributor to the Andhra Pradesh economy.
9) Kerala: GSDP of 9.78 Lakh crore
With a gross state domestic product of 9.78 lakh core, Kerala is the 9th Richest State in India. The Kerala Economy is heavily reliant on the agricultural sector, which employs more than half of the workforce. In Kerala, the major industries are agriculture, rubber, coconut, tourism and software development. The state’s tourism industry is also growing rapidly, with popular destinations including Munnar and Kochi. The main crops grown in Kerala are rice, coconuts, tea and coffee. The main export items are pepper, cardamom, cashews and spices.
10) Telangana: GSDP of ₹9.78 lakh crore
Telangana has a GDP of 9.78 lakh crore and is the 10th Richest state in India. Telangana is home to many major industries, including information technology, automobiles, textiles, food processing, biotechnology and pharmaceuticals. These industries provide employment and income for residents in the state, and help to make Telangana one of the most prosperous regions in India. The state is also a major hub for trade and commerce, with a well-developed infrastructure that includes ports and airports.
11) Delhi – GDP of 8.56 Lakhs Crore (Richest Union Territory in India)
Delhi, the capital of India, has a GDP of 8.56 lakh crores, making it the richest Union territory in the country. Several factors contribute to the economy of Delhi, including its status as the capital of India and its role as a major trade and commerce hub. In addition to these, Delhi is home to several well-known corporations and industries, including those in the areas of information technology, hotels, pharmaceuticals, media, banking and tourism Sectors. As a result, Delhi has become one of India’s wealthiest union territories.
FAQ About Richest States in India 2022:
Which is the Number 1 richest state in India?
As of 2022, The state of Maharashtra is the richest state in India, with a GDP of ₹32.34 lakh crores. Maharashtra’s wealth is based largely on its status as India’s most important industrial and financial center. The state also has a significant agricultural sector, which accounts for about a quarter of GDP.
What are the top 10 richest state in India by GDP?
As of 2022, the ten richest states in India by GDP are: Maharashtra, Tamil Nadu, Uttar Pradesh, Gujarat, Karnataka, West Bengal, Rajasthan, Andhra Pradesh, Kerala & Telangana.