With a GDP of roughly $190 Billion, Maharashtra is one of the most developed states and ranks high as an enabler state – which means that it offers people a host of opportunities. The state is responsible for 40% of India’s national income, making it a great hub for business owners and employees alike.
Nominal GDP: $ 420 Billion (27.96 Lakh crore)
The economy of Maharashtra is driven by producing, international trade, Mass Media part, technology, petroleum, fashion, apparel, and touristy. geographical area is that the most industrial state and has maintained the leading position within the industrial sector in India. The State is pioneer in tiny scale industries.
Mumbai, the capital of state and therefore the monetary capital of India, homes the headquarters of most of the main company and monetary establishments. India’s main stock exchanges and capital market and commodity exchanges are set in urban center. The State continues to draw in industrial investments from domestic additionally as foreign establishments. geographical area has the most important proportion of taxpayers in India and its share markets transact virtually seventy per cent of the country’s stocks.
Tamil Nadu has great infrastructure and is also an affordable state to live in when compared with the likes of Mumbai and Bengaluru.
Nominal GDP: $ 260 Billion (17.2 Lakh crore)
Tamil Nadu is that the most urbanized state in India (49 per cent), accounting for 9.6 per cent of the urban population whereas solely comprising six per cent of India’s total population. Services contributes to forty five per cent of the economic activity within the state, followed by producing at thirty four per cent and agriculture at twenty one per cent. Government is that the major capitalist within the state with fifty one per cent of total investments, followed by non-public Indian investors at 29.9 per cent and foreign non-public investors at 14.9 per cent.
Tamil Nadu features a network of regarding 113 industrial parks and estates giving developed plots with supporting infrastructure. It ranks third in foreign direct investment approvals (cumulative 1991–2002) of ₹ 225.826 billion, next solely to Maharashtra and Delhi constituting nine.12 per cent of the entire FDI within the country. The per capita financial gain in 2007–2008 for the state was ₹ 72,993 ranking third among states with a population over ten million and has steady been on top of the national average making it one of the richest states in India.
Home to India’s answer to Silicon Valley, it’s no surprise that Karnataka is one of the most developed states in India. A great IT hub and filled with lots of industries, Karnataka often ranks as one of the top 3 cities when talking about development.
South India is easily one of the most developed parts of the country, and as such, the next position is filled by Karnataka, with a GDP INR 12.80 lakh crore. Bangalore or Bengaluru, the primary hub of Karnataka, is one of the fastest developing cities in the country and houses a massive IT industry.
Nominal GDP: $ 230 Billion (15.88 Lakh crore)
Karnataka is that the producing hub for a few of the biggest public sector industries in India, together with Hindustan aeronautics limited, National aerospace Laboratories, bharat heavy Electricals limited, bharat Earth Movers limited and HMT ,that are based mostly in Bangalore.
Several of India’s premier science and technology analysis centres, like Indian space research Organisation, Central Power research Institute, bharat electronics limited and therefore the Central Food Technological research Institute, also are headquartered in Karnataka. Mangalore refinery and Petrochemicals limited is an petroleum refinery, settled in Mangalore.
The state accounts for seventy fifth of India’s floriculture, an coming industry that provides flowers and decorative plants worldwide. Seven of India’s banks, canara Bank, Syndicate Bank, Corporation Bank, Vijaya Bank, Karnataka Bank, ING Vysya Bank and therefore the state bank of Mysore originated in this state making it one of the richest states in India.
4. Uttar Pradesh
This state has some of the top educational facilities, with cities like Kanpur and Universities like BHU within its borders. This is why it’s a great state in terms of finding great employees for your start-up.
Nominal GDP: $ 220 Billion (15.79 Lakh crore)
In terms of net state domestic product (NSDP), Uttar Pradesh is that the second-largest economy in Republic of India after Maharashtra, with an calculable gross state domestic product of ₹14.89 lakh crore ), and thus contributes 8.406% of Republic of India.
Agriculture is that the leading occupation in Uttar Pradesh. According to the report generated by Republic of India Brand Equity Foundation (IBEF), in 2014–15, Uttar Pradesh has accounted for nineteen share within the country’s total cereal output. The state has experienced a high rate of economic growth within the past few years.
About seventieth of India’s sugar comes from the state. Sugarcane is that the most vital harvest because the state is country’s largest producer of sugar. As per the report generated by Indian Sugar Mills Association (ISMA), total sugarcane production in India was calculable to be 28.3 million tonnes within the financial year ending September 2015 which incorporates 10.47 million tonnes from Maharashtra and 7.35 million tonnes from Uttar Pradesh and one of the richest states in India.
One of the highest statistics in India, UP current has a GDP of INR 14.46 lakh crore. It is the most populated state and therefore has the most number of working hands, which lends to making it one of the most widely developing states.
Considered a holy state and also the birthplace of Mahatma Gandhi, Gujarat is one of the most impressive and highly revered states in the country. Their current GDP is INR 12.75 lakh crore and Gujarat is considered to be a very business-friendly state.
Nominal GDP: $ 213 Billion (14.96 Lakh crore)
Gujarat has 85 percent village connectivity with all‐weather roads.Nearly 100 percent of Gujarat’s 18,000 villages are connected to the electrical grid for 24-hour power to households and eight hours of power to farms, through the Jyotigram Yojana.
As of 2015, Gujarat ranks 1st nationwide in gas-based thermal electricity generation with a national market share of over 8 percent , and second nationwide in nuclear electricity generation with national market share of over 1 percent. The state registered 12.8% agricultural growth within the last 5 years against the national average of twenty-two.
Gujarat records highest decade agricultural rate of 10.97%. Over two hundredth of the S&P CNX five hundred conglomerates have company offices in Gujarat. As per tally report, in year 2006–07, 26th out of total bank finance in India was in Gujarat.
As per a recent survey report of the Chandigarh Labor Bureau, Gujarat has the lowest unemployment rate of 1 percent against the national average of 3.8%.
6. West Bengal
The heart of Indian renaissance and once the nation’s capital, West Bengal is the sixth richest state in 2019, with a GDP of INR 9.20 lakh crore. The infrastructural quality has drastically increased in recent times within Kolkata and its surrounding areas.
Nominal GDP: $ 190 Billion (13.14 Lakh crore)
The economy of West Bengal has witnessed several twists and turns. The agricultural sector particularly rose to 8.33% in 2010–11 before tumbling right down to −4.01% in 2012–13. Agriculture is that the leading economic sector in state. Rice is that the state’s principal food crop. Rice, potato, jute, sugarcane, and wheat are the most produced 5 crops of the state.
Tea is created commercially in northern districts; the region is accepted for Darjeeling and alternative high-quality teas. The State industries are localised within the Kolkata region, the mineral-rich western highlands, and also the Haldia port region. The Durgapur–Asansol workplace belt is home to variety of steel plants.
7. Andhra Pradesh
Nominal GDP: $ 150 Billion (10.40 Lakh crore)
Andhra Pradesh economy is principally supported agriculture and farm animal. Four vital rivers of India, the Godavari, Krishna, Penna, and Thungabhadra flow through the state and supply irrigation. 60 % of population is engaged in agriculture and connected activities. Rice is that the major food crop and staple food of the state.
The state is an exporter of the many agricultural product and is additionally called “Rice Bowl of India”. The state has 3 Agricultural Economic Zones in Chittoor district for mango pulp and vegetables, Krishna district for mangoes, Guntur district for chilies.
Andhra Pradesh has great infrastructure, making it one of the cities to watch out for in the coming year. Its markets are relatively untapped, making them great for new business.
One of the most recently formed states, Telangana succeeded in separating from Andhra Pradesh and achieved their own identity. Being one of the fastest growing industrial hubs allows Telangana to enter this list with a GDP of INR 7.50 lakh crore.
Nominal GDP: $ 142 Billion (9.87 Lakh crore)
The economy of Telangana is principally driven by agriculture. two vital rivers of India, the Godavari and Krishna, flow through the state, providing irrigation. Farmers in Telangana principally depend upon rain-fed water sources for irrigation. Rice is that the major food crop.
Different vital crops are cotton, sugar cane, mango, and tobacco. Recently, crops used for edible oil production like helianthus and peanuts have gained favour.
There are several multi-state irrigation comes in development, as well as Godavari river basin Irrigation comes and Nagarjuna Sagar Dam, the world’s highest masonry dam.
Telangana is an emerging IT hub with wonderful resources, making it a great option for you to launch your company. As the state has a high literacy rate, you will find skilled professionals easily. The pleasant weather conditions of the state are a huge bonus.
The land of beautiful deserts, Rajasthan, currently comprises of a GDP of INR 7.50 lakh crore. Tourism is one of its major economic avenues, and Jaipur, one of the primary cities of Rajasthan, is also one of the most populated in the country.
Nominal GDP: $ 133 Billion (9.24 Lakh crore)
Rajasthan’s economy is primarily agricultural and pastoral. Wheat and barley are cultivated over massive areas, as are pulses, sugarcane, and oil seeds. Cotton and tobacco are the state’s money crops.
Rajasthan is among the biggest producers of edible oils in India and also the second largest producer of oil seeds. Rajasthan is additionally the largest wool-producing state in India and also the main narcotic producer and consumer.
There are primarily two crop seasons. The water for irrigation comes from wells and tanks. The Indira Gandhi Canal irrigates northwestern Rajasthan.
Rajasthan is not only India’s largest state, it is also the energy hub of the country. It’s industrial and financial development is certainly something that has put it on the map with regards to development.
This country sitting on Malabar’s tropical coast clocks in at the ninth spot this year with its ever-growing fishing and farming economy. The current GDP of Kerala is INR 7.48 lakh crore.
God’s Own Country isn’t just about its natural beauty – it is the most developed state in terms of the literacy rate and the health facilities that are available here. It has a huge IT park called Technopark Trivandrum, which is home to over 200 companies.
Nominal GDP: $ 120 Billion (8.75 Lakh crore)
Kerala’s economy depends on emigrants operating in foreign countries, primarily in Arab states of the gulf, and remittances annually contribute over a fifth of GDP. The state witnessed important migration throughout the Gulf Boom of the 1970s and early Eighties. In 2008, the gulf countries along had a Keralite population of over two.5 million, who sent home annually a sum of US$6.81 billion, that is the highest among Indian states and over 15.13% of remittances to Asian country in 2008.
In 2012, Kerala still received the very best remittances of all states: US$11.3 billion, that was nearly 16 PF of the US$71 billion remittances to the country making it one of the richest states in India.