Richest states of India in 2023 and their strength

Diversity is seen in every case in India. Some states are rich and some are poor. Somewhere most people depend on agriculture and somewhere on industry.

As per the Gross State Domestic Product (GSDP) calculation in the year 2021-22, Maharashtra, Tamil Nadu and Gujrat are Richest states in India. Have a look at complete list.

Maharashtra: GSDP of US$ 366.67 billion

Maharashtra is the richest state in India. The state capital Mumbai is also known as the economic capital of the country. Maharashtra’s Advance estimate of GSDP stood at Rs. 26.62 trillion (US$ 366.67 billion) in 2020-21. It is the third highest urban population state in the country where 45 percent of the population lives in cities. Maharashtra tops in the list of Richest states of India.

Strengths: Manufacturing, international trade, Mass Media, aerospace, technology, petroleum, fashion, apparel, and tourism.

• Agriculture: 51%
• Industry: 9%
• Services: 40%

Tamil Nadu: GSDP of US$ 265.49 billion

Tamil Nadu is the second wealthiest state in India. GSDP stood at Rs. 19.43 trillion (US$ 265.49 billion). More than 50 percent of the state’s population lives in cities. It constitutes 9.6 percent of the urban population of the entire country. 45 percent service sector, 34 percent manufacturing sector and 21 percent agriculture contribute to the state’s GDP. 

Tamil Nadu is 2nd in the list of Richest states of India.

Strengths: Automobiles and auto components, engineering, pharmaceuticals, garments, textile products, leather products, chemicals.

• Agriculture: 13%
• Industry: 34%
• Services: 53%

Gujarat: GSDP of US$ 259.25 billion

Gujarat’s GSDP is estimated at Rs. 18,79,826 crore (US$ 259.25 billion) in Financial Year 2022. The main source of income of this western state of India is agriculture and industry. 

The world’s largest ship breaking yard is near Bhavnagar in Alang, Gujarat. Reliance Petroleum’s refinery is also located in Jamnagar, Gujarat. Gujarat is a major producer of tobacco, cotton clothes and almonds. One-third of the total medicines made in India are made in Gujarat.  

Strengths: Pharma, chemicals, refining and petrochemicals, ceramics, textiles, automobile industries.

• Agriculture: 19%
• Industry: 45%
• Services: 36%

Karnataka: US$ 247.38 billion

Karnataka is the third richest state in India. At current prices, Karnataka’s revised GSDP stood at Rs. 18.03 trillion (US$ 247.38 billion) in 2020-21. Its GDP has grown at the fastest pace in the last decade compared to other states of the country. Many famous companies like Bharat Electronics Limited, Hindustan Machine Tools, Indian Telephone Industry have their headquarters in this state.

Strengths: Automobile, agro, aerospace, textile and garment, biotech, and heavy engineering industries.

• Agriculture: 10%
• Industry: 26%
• Services: 64%

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Uttar Pradesh: US$ 234.96 billion

Uttar Pradesh is the fourth richest state in India. The Gross State Domestic Product of Uttar Pradesh reached to Rs. 17.06 trillion (US$ 234.96 billion). Many cities of Uttar Pradesh like Noida, and Ghaziabad have developed rapidly. Many companies have opened their branches here. Handloom, handicrafts and agriculture are very important means of income of the people of the state.

Strengths: Uttar Pradesh is the largest producer of food grains in India and accounted for about 17.83% share in the country’s total food grain output.

• Agriculture: 24%
• Industry: 26%
• Services: 50%

West Bengal: GSDP of US$ 206.64 billion

At current prices, GSDP of West Bengal is estimated at Rs 14.44 trillion (US$ 206.64 billion) in 2020-21. The economy of the state is mainly based on agriculture and medium-scale industry. 

However, the service sector and heavy industries also play an important role in strengthening the economy of the state. Apart from Durgapur, there are many steel plants in the state. The port of Kolkata carries cargo ships from all over the world. 

Strengths: West Bengal is the second largest tea-producing state in India and is home to the globally acclaimed Darjeeling tea variety. WB is Largest producer of Potato in India.

• Agriculture: 21%
• Industry: 26%
• Services: 53%

Rajasthan: GSDP of US$ 161.37 billion

GSDP of Rajasthan stood at Rs 11.98 trillion (US$ 161.37 billion) in 2020-21. It is a mineral-rich state. The economy here is based on agriculture, mining and tourism. The state has gold, silver, sandstone, limestone, marble, rock phosphate, copper and lignite deposits. It is the second-largest cement-producing state in India. Rajasthan is a major centre of tourist attractions due to its historical heritage.

Strengths: Agriculture, mining and tourism. The state mines produce gold, silver, sandstone, limestone, marble, rock phosphate, copper and lignite.

• Agriculture: 44%
• Industry: 8%
• Services: 47%

Telangana: GSDP of US$ 157.35 billion

Telangana has a GDP of US$ 157.35 billion. Due to the two major rivers Krishna and Godavari, there is a better irrigation facility in large part here. Special attention is now being paid to information technology and biotechnology in the state. Telangana is one of the top IT exporter states in India. There are 68 special economic zones in the state. Telangana also has a rich state in terms of minerals. 

Strengths: State holding leading position in IT & ITeS in the country in terms of production and exports.

• Agriculture: 55%
• Industry: 17%
• Services: 26%

Andhra Pradesh: GSDP of US$ 138.19 billion

The total GDP of Andhra Pradesh is US$ 138.19 billion. The economy here is mainly based on agriculture. 62 percent of the population is directly and indirectly connected to agriculture. The World Bank has described this state as the best state in India in terms of starting a business. This state produces 70 percent of shrimp in India. 

Strengths: Agriculture, mining and tourism. The state mines produce gold, silver, sandstone, limestone, marble, rock phosphate, copper and lignite.

• Agriculture: 55%
• Industry: 10%
• Services: 35%

Madhya Pradesh: GSDP of US$ 126.40 billion

At current prices, the Gross State Domestic Product (GSDP) of Madhya Pradesh for 2020-21 stood at US$ 126.40 billion. The state’s GSDP grew at a CAGR of 13.78% in the last 5 years.

Strengths: Fuel, minerals, agriculture, and biodiversity. It is also the only diamond producing state in the country.

• Agriculture: 62%
• Industry: 5%
• Services: 37%

Kerala: GSDP of US$ 119.93 billion

Kerala’s total GSDP stood at Rs. 876,283 crore (US$ 119.93 billion) in 2021-22, an increase of 1% over FY20. The main contribution to the state’s economy is the service sector. Several major corporations and manufacturing plants are headquartered in Kerala, particularly in Trivandrum, Kochi, Kozhikode. Kerala produces 85 percent of natural rubber and 97 percent of black pepper in the country. Tourism contributes about 10 percent to the state’s GDP. 

Strengths: Handlooms and power looms, rubber, bamboo, coir, khadi and village, sericulture, seafood and other marine products, cashew, mining, tourism, food processing, spice and spice extracts, IT & electronics

• Agriculture: 8%
• Industry: 28%
• Services: 63%

Delhi US$ 108.33 billion

Delhi is one of the fastest growing states. At current prices, the advance estimate of GSDP of Delhi is Rs 7.98 trillion (US$ 108.33 billion) in 2020-21. Delhi is first choice for people to work. Lots of people from different states come Delhi to earn their livelihood. Delhi Being capital of the country has many company headquarters. Delhi is on 12th position in the list of Richest states of India.

Strengths: Banking, financial services and insurance (BFSI), Agri and processed food, construction and real estate, IT and ITeS, Tourism and Logistics.

• Agriculture: 2%
• Industry: 12%
• Services: 86%

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