Top 20 Richest States In India By Their GDP

India, being a developing country and the largest democracy in the world, is climbing the ladder to achieve growth and boost its economy in the global marketplace. We know that India has one of the largest agricultural sectors in the world which also plays a key role in generating revenue, while the rest of the revenue comes from various industries, organizations, partnership companies, investments, common taxpayers, etc.

As of now, India stands as the fifth largest economy by nominal gross domestic product (GDP), which is valued at the US $3.53 trillion. The per capita GDP of the nation is the US $2,515 and is ranked in 142nd position. GDP is the total production of a country that is measured by cutting short all deficits and imports.

The Indian sub-continent is comprised of a total of 28 states and 8 union territories. And, out of these, we’re going to take a look at the twenty richest states of India that are valued by their nominal GDP.

List of 20 Richest States of India Ranked by Their GDP in 2021-22

Below is a list of the richest states of India by their GDP as of 2021-22. We’ll also look at how these states can generate their revenue that helps increase not only each of these states’ economies but contributes to the nation’s economy as a whole, as well.

1. Maharashtra

GDP: INR 24.83 Lakh Crores (US $366.67 Billion)

At the top of the list of the richest states in India is Maharashtra, also known as the financial capital of India. Maharashtra is the richest state in India. The state’s estimated gross state domestic product (GSDP) stood at INR 24.83 Trillion (US $366.67 Billion) in 2020-21. It is also the third highest urban population state in the country, where about 45 percent of the population lives in cities.

Where Does the Revenue Come From?

Its main sources of revenue come from manufacturing, international trade, mass media, aerospace, technology, petroleum, fashion, apparel, and tourism. Also, its other contributions to the economy include 51% from the agricultural sector, 40% from services, and 9% from industries, respectively.

2. Tamil Nadu

GDP: INR 16.20 Lakh Crores (US $265.49 Billion)

In the second place for the richest state of India in Tamil Nadu. The state’s estimated GSDP stood at INR 16.20 Trillion (US $265.49 Billion). Above than 50 percent of the state’s population lives in cities. It is 9.6 percent of the urban population of the whole country. Also, the 45 percent service sector, 34 percent manufacturing sector, and 21 percent agriculture contribute to the state’s GDP.

Where Does the Revenue Come From?

The state of Tamil Nadu’s main sources of revenue comes from automobiles and auto components, engineering, pharmaceuticals, garments, textile products, leather products, chemicals, etc. Also, its other contributions to the economy include 13% from the agricultural sector, 53% from services, and 43% from industries, respectively.

3. Uttar Pradesh

GDP: INR 14.96 Lakh Crores (US $247.96 Billion)

In the third place for the richest state of India is Uttar Pradesh. The state’s estimated GSDP stood at INR 14.96 Trillion (US $247.96 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 for the people of the state.

Where Does the Revenue Come From?

The state of Uttar Pradesh’s main sources of revenue comes from producing food grains. Uttar Pradesh is one of the biggest producers of food grains in the country. It also accounted for about 17.83% share of the country’s total food grain output. Also, its other contributions to the economy include 24% from the agricultural sector, 50% from services, and 26% from industries, respectively.

4. Karnataka

GDP: INR 14.75 Lakh Crores (US $240.38 Billion)

The state’s estimated GSDP stood at INR 14.75 Trillion (US $240.38 Billion) in 2020-21. Its GDP has grown at the quickest pace in the last decade compared to other states. Many famous companies like Bharat Electronics Limited, Hindustan Machine Tools (HMT), Indian Telephone Industry have their headquarters in this state.

Where Does the Revenue Come From?

The state of Karnataka’s main sources of revenue comes from automobile, agro, aerospace, textile and garment, bio-tech, and heavy engineering industries. Also, its other contributions to the economy include 10% from the agricultural sector, 64% from services, and 26% from industries, respectively.

5. Gujarat

GDP: INR 14.48 Lakh Crores (US $238.25 Billion)

The state’s estimated GSDP stood at INR 14.48 Lakh Crores (US $238.25 Billion) in Financial Year 2022. The main source of income in this western state of India is agriculture and industry. Near Bhavnagar in Alang, Gujarat, the world’s largest shipbreaking yard. Reliance Petroleum’s refinery is also situated in Jamnagar, Gujarat. Gujarat is one of the major producers of tobacco, cotton clothes, and as well as almonds. In India, one-third of the total medicines in India, are made in Gujarat.

Where Does the Revenue Come From?

The state of Gujarat’s main sources of revenue comes from pharmaceuticals, chemicals, refining and petrochemicals, ceramics, textiles, and automobile industries. Also, its other contributions to the economy include 19% from the agricultural sector, 36% from services, and 45% from industries, respectively.

6. West Bengal

GDP: INR 11.01 Lakh Crores (US $206.64 Billion)

The state’s estimated GSDP stood at INR 11.01 Trillion (US $206.64 Billion) in 2020-21. The state’s economy is mainly based on its agriculture and as well its medium-scale industry. However, the service sector and heavy industries also play a vital role in strengthening the economy of the state. Apart from Durgapur, there are a lot of steel plants in located the state. From all over the world, the port of Kolkata carries cargo ships.

Where Does the Revenue Come From?

The state of West Bengal’s main sources of revenue comes from the production of tea and potato. It also produces tea in large amounts and is the second largest tea-producing state in the country. It is the home to the globally acclaimed Darjeeling tea variety. It is the largest producer of potatoes in India. Also, its other contributions to the economy include 53% from the agricultural sector, 21% from services, and 26% from industries, respectively.

7. Rajasthan

GDP: INR 8.99 Lakh Crores (US $161.37 Billion)

The state’s estimated GSDP stood at INR 8.99 Trillion (US $161.37 Billion) in 2020-21. It is a mineral-rich state. The economy here is mainly based on agriculture, mining, and tourism. The state has a great source of gold, silver, sandstone, limestone, marble, rock phosphate, copper, and lignite deposits. In India, it is the second largest cement producing state. Rajasthan is a major center for tourist attractions due to its historical heritage and biodiversity.

Where Does the Revenue Come From?

The state of Rajasthan’s main sources of revenue comes from agriculture, mining, and tourism. They also, mines produce gold, silver, sandstone, limestone, marble, rock phosphate, copper, and lignite. Also, its other contributions to the economy include 47% from the agricultural sector, 8% from services, and 44% from industries, respectively.

8. Telangana

GDP: INR 8.71 Lakh Crores (US $159.35 Billion)

The state’s estimated GSDP stood at INR 8.71 Lakh Crores (US $159.35 Billion). Due to the presence of two major rivers namely, Krishna and Godavari, there is a better irrigation facility in large parts here. Special attention is now being paid to information technology (IT) and biotechnology in the state. Telangana is one of the top IT exporters states in India. There are 68 special economic zones (SEZ) in the state. The Telangana state is also a rich state in terms of minerals.

Where Does the Revenue Come From?

The state of Telangana’s main sources of revenue comes from the Information Technology (IT) industry and services. The state holds the leading position in IT & ITeS in the country in terms of production and exports. Also, its other contributions to the economy include 26% from the agricultural sector, 55% from services, and 17% from industries, respectively.

9. Andhra Pradesh

GDP: INR 8.70 Lakh Crores (US $159.19 Billion)

The state’s estimated GSDP stood at INR 8.70 Lakh Crores (US $159.19 Billion). The economy of the state mainly depends upon its agriculture. Around 62 percent of the population is directly and indirectly, connected to the agriculture field. In terms of starting a business, the World Bank has described this state as the best state in India. The state produces about 70 percent of shrimp in India.

Where Does the Revenue Come From?

The state of Andhra Pradesh’s main sources of revenue comes from agriculture, mining, and tourism. The state also produces gold, silver, sandstone, copper, marble, limestone, rock phosphate, and lignite. Also, its other contributions to the economy include 55% from the agricultural sector, 10% from services, and 35% from industries, respectively.

10. Madhya Pradesh

GDP: INR 8.56 Lakh Crores (US $156.40 Billion)

The state’s estimated GSDP stood at INR 8.56 Lakh Crores (US $156.40 Billion). The state’s GSDP grew at a CAGR of 13.78% in the last five years. Madhya Pradesh is also known as ‘the heart of India’. Madhya Pradesh is the second largest state of India in terms of area and acts as the hub for many cities. Bhopal is the capital city and Indore is the largest city of Madhya Pradesh.

Where Does the Revenue Come From?

The state of Madhya Pradesh’s main sources of revenue comes from fuel, minerals, agriculture, and biodiversity. It is also the only diamond-producing state in the country. Also, its other contributions to the economy include 62% from the agricultural sector, 5% from services, and 37% from industries, respectively.

11. Kerala

GDP: INR 7.73 Lakh Crores (US $149.93 Billion)

The state’s estimated GSDP stood at INR 7.73 Lakh Crores (US $149.93 Billion) in 2021-22, an increase of 1% over FY20. One of the main contributions to the state’s economy is the service sector. Several major corporations and manufacturing plants are headquartered in Kerala, particularly in Thiruvananthapuram, Kochi, and Kozhikode. The state also produces 85 percent of natural rubber and 97 percent of black pepper in the country. Tourism contributes about 10 percent of the GDP of the state.

Where Does the Revenue Come From?

The state of Kerala’s main sources of revenue comes from hand-looms 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 and electronics. Also, its other contributions to the economy include 8% from the agricultural sector, 63% from services, and 28% from industries, respectively.

12. Delhi

GDP: INR 7.54 Lakh Crores (US $143.33 Billion)

The state’s estimated GSDP stood at INR 7.54 Trillion (US $143.33 Billion) in 2020-21. Delhi is one of the first choice places for people in the country to work. Lots of people from different states come to Delhi to earn their livelihood. Delhi being the capital city of the country has many company headquarters. Delhi is in the 12th position in the list of richest states in India.

Where Does the Revenue Come From?

The state of Delhi’s main sources of revenue comes from banking, financial services, and insurance (collectively known as BFSI), agricultural and processed food, construction and real estate, IT and ITeS, tourism, and logistics. Also, its other contributions to the economy include 2% from the agricultural sector, 86% from services, and 12% from industries, respectively.

13. Haryana

GDP: INR 7.08 Lakh Crores (US $135.14 Billion)

The state’s estimated GSDP stood at INR 7.08 Lakh Crores (US $135.14 Billion). The economy of the state is heavily dependent on the agriculture sector, but the state also produces a lot of professionals who excel in many other fields like sports, etc. The city has seen a lot of development in recent years.

Where Does the Revenue Come From?

The state of Haryana’s main sources of revenue comes from agriculture, real estate, etc. Also, its other contributions to the economy include 51% from the agricultural sector, 40% from services, and 9% from industries, respectively.

14. Bihar

GDP: INR 5.43 Lakh Crores (US $118.65 Billion)

The state’s estimated GSDP stood at INR 5.43 Lakh Crores (US $118.65 Billion). The state is the 13th largest state in the country and the economy of this state is based mostly on the service industry. Apart from this, a significant portion of its GDP comes from agriculture and the industrial sector as well. The state is very known for producing the highest number of IAS officers in India.

Where Does the Revenue Come From?

The state of Bihar’s main sources of revenue comes from agriculture. Also, its other contributions to the economy include 51% from the agricultural sector, 9% from services, and 40% from industries, respectively.

15. Odisha

GDP: INR 4.83 Lakh Crores (US $88.57 Billion)

The state’s estimated GSDP stood at INR 4.83 Lakh Crores (US $88.57 Billion). The state has shown immense development in recent times and there are many IT industries in the state. There had been a ton of improvement in the agricultural sector too. From a state that was a deficit in rice, it is not a state that produces excess rice. There are a lot of coastal activities in the state as well and it is also the home of the famous Jagannath temple.

Where Does the Revenue Come From?

The state of Odisha’s main sources of revenue comes from agro. Also, its other contributions to the economy include 51% from the agricultural sector, 40% from services, and 9% from industries, respectively.

16. Punjab

GDP: INR 4.82 Lakh Crores (US $87.71 Billion)

The state’s estimated GSDP stood at INR 4.82 Lakh Crores (US $87.71 Billion). The economy of the state is mainly dependent on the agriculture sector and other primary sector. Punjab is also very known for being one of the highest grain producers in the country. The state also has a huge inflow of foreign exchange through various industries.

Where Does the Revenue Come From?

The state of Punjab’s main sources of revenue comes from agriculture. Also, its other contributions to the economy include 62% from the agricultural sector, 8% from services, and 30% from industries, respectively.

17. Chhattisgarh

GDP: INR 3.08 Lakh Crores (US $56.12 Billion)

The state’s estimated GSDP stood at INR 3.08 Lakh Crores (US $56.12 Billion). It is the tenth largest state and has an abundance of natural resources. The fact that the state is plagued by Naxalites is what slows down the growth of Chhattisgarh. It is relatively a new state which was formed in the year 2000 after Madhya Pradesh was portioned. The economy of Chhattisgarh is primarily dependent on the power sector, agriculture, steel sector, and aluminum sector.

Where Does the Revenue Come From?

The state of Chhattisgarh’s main sources of revenue comes from agriculture. Also, its other contributions to the economy include 51% from the agricultural sector, 9% from services, and 40% from industries, respectively.

18. Assam

GDP: INR 3 Lakh Crores (US $51.41 Billion)

The state’s estimated GSDP stood at INR 3 Lakh Crores (US $51.41 Billion). The state is primarily dependent on agriculture and there had been a lack of development until the last few years. For now, the state has been developing infrastructure at a very fast pace which is also improving connectivity. The state is also known for producing the best quality tea in the world. In Assam, there a lot of tea is produced and is also exported to various regions around the world.

Where Does the Revenue Come From?

The state of Assam’s main sources of revenue comes from agriculture, tourism, etc. Also, its other contributions to the economy include 51% from the agricultural sector, 9% from services, and 40% from industries, respectively.

19. Jharkhand

GDP: INR 2.93 Lakh Crores (US $34.98 Billion)

The state’s estimated GSDP stood at INR 2.93 Lakh Crores (US $34.98 Billion). Jharkhand is also called the land of the forest. The state was formed in the year 2000 along with Chattisgarh. Jharkhand was formed after the partition of Bihar. As per the information available, Jharkhand is the 16th largest state in terms of area. The state is also highly rich in minerals and other natural resources. The mining industry also helps Jharkhand in pushing up the GDP. It is known that Jharkhand is also very known for rich deposits of iron, coal, mica, copper, bauxite, kainite, uranium, asbestos, and even gold too.

Where Does the Revenue Come From?

The state of Jharkhand’s main sources of revenue comes from the mining of natural resources. Also, its other contributions to the economy include 51% from the agricultural sector, 40% from services, and 9% from industries, respectively.

20. Uttarakhand

GDP: INR 2.28 Lakh Crores (US $32.04 Billion)

The state’s estimated GSDP stood at INR 2.28 Lakh Crores (US $32.04 Billion). Because of the temples and other beautiful sites, The state has a lot of tourist inflow. It is also the adventure capital of India and as per the reports, Uttarakhand is known to be one of the fastest-growing states in India. The economy is heavily dependent on the agriculture sector and tourism.

Where Does the Revenue Come From?

The state of Uttarakhand’s main sources of revenue comes from tourism. Also, its other contributions to the economy include 9% from the agricultural sector, 40% from services, and 51% from industries, respectively.

Conclusion

In a recent survey, India is seen as the strongest and most progressively growing country with the best figures in the GDP.