Top 20 Richest States in India

India stands as the 7th largest country in the World and also shines as the largest democratic country in the world with the longest written constitution. All these details sum up that India has its positioning amongst the top Countries in the world, India is also famous for its vibrant culture as different religion people in different parts of India live with great harmony and respect for other religion and culturally different people.

In the recent survey, India has been named as the strongest and most progressively growing country with best figures in the GDP (Gross Domestic Product), GDP is the total production of a country that is measured by cutting short all deficits and imports.

What Makes a State Rich?

It has been a topic of debate among economists for decades as to why certain states prosper while others do not. This is true for a very straightforward reason. Capitalism has been the major engine for national economic growth. Stable money and minimal taxes are crucial to the success of any capitalist system.

Factors that makes a state rich

  • Capitalism, the extraordinarily intricate arrangement of links that allows people to collaborate in enormous networks of investment, industry, and commerce via the market system, may be hampered or even collapse if taxes are too high or money is too unstable.
  • The advanced economies prosper because their governments and businesses have access to cutting-edge tools and equipment that boost productivity.
  • In today’s world, technology is what drives the economies of the world’s most advanced states. These rich states are using cutting-edge technologies to boost output and decrease turnaround times.
  • For instance, the Maharashtra, as one of the India’s most advanced economies, has been exporting highly competitive goods to other states and countries.
  • In addition, inhabitants of industrialized nations may benefit from the excellent education offered by their country’ renowned institutions.
  • In order to produce capable leaders who can effectively run their state, education is crucial. However, developing states struggle to provide enough educational opportunities for their youth due to a lack of resources.

In Bihar, for instance, where there is a severe lack of funding for education, the literacy rate is low. Consequently, their financial situation has worsened.

How to bring a change?

The wealthy state should aid the poor state by funding the construction of schools in underdeveloped nations. They can better prepare their children for future leadership roles in the community. As an added bonus, advanced states should also teach others what they’ve learned about technological advancements and new ideas.

People in developing states would benefit greatly from this since they would have access to more education and training that would help them advance in their chosen fields.

Richest States in India

Have a look at the state makes it to the top of the list of top 20 states that are richest, their GDP of the year 2018-19 is the criteria for the ranking.

List of Top Richest States in India

20. Uttarakhand – GDP Rs.2.63 lakh Crore

Devbhumi which is also referred to as Uttarakhand is on number 20 with a total GDP of Rs 2.63 Lakh. The state has a lot of tourist inflow because of the temples as well as other beautiful sites. It is also the adventure capital of India and as per the statistics, Uttarakhand is known to be one of the fastest growing states in India. The economy is mainly dependent on agriculture and tourism.

19. Jharkhand – GDP Rs.3.45 lakh Crore

Jharkhand is located on the eastern side of the country and it is also known as the land of the forest. The state was formed in 2000 along with Chattisgarh and it was formed after the partition of Bihar. As per the information available, Jharkhand is the 16th largest state in terms of area. Jharkhand is also very rich in minerals and other natural resources. Mining industry also helps Jharkhand in pushing up the GDP. It is known that Jharkhand has rich deposits of iron, coal, mica, copper, bauxite, kainite, uranium, asbestos and even gold.

18. Chhattisgarh – GDP Rs.3.63 lakh Crore

Chhattisgarh is on number 18 with a total GDP of 3.64 lakh Crore. The state is 10th largest state and it has an abundance of resources. The fact that the state is plagued by Naxalites is what slows down the growth for Chhattisgarh. It is relatively a new state which was form in the year 2000 after Madhya Pradesh was portioned. The economy of Chhattisgarh is majorly dependent on the power sector, agriculture, steel sector and aluminium sector.

17. Assam – GDP Rs.3.74 lakh Crore

Assam is on number 17 and it comes as a no surprise because the state is majorly dependent on agriculture and there had been lack of development until last few years. For now, the state has been developing infrastructure at a very fast pace which is also improving the connectivity. The state is also known for producing the best quality of tea in the world. A lot of tea produced here is also exported to various regions in the world.

16. Odisha – GDP Rs.4.43 lakh Crore

On number 16, we have Odisha with a total GDP of Rs 4.43 lakh Crore. The state has shown immense development in recent time and there are many IT industries in the state. There had been a lot of development in the agricultural sector as well. From a state that was a deficit on rice, it is not a state that produces excess rice. There is a lot of coastal activities in the state as well and it is also the home of the famous Jagannath temple.

15. Bihar – GDP Rs.5.15 lakh Crore

Bihar stands on number 15 with an annual GDP of Rs 5.15 Lakh Crore. The state is a13th 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 GDP comes from Agriculture and the Industrial sector as well. The state also produces the highest number of IAS officers in India

14. Punjab – GDP Rs.5.77 lakh Crore

On Number 14, we have Punjab. The economy of the state is mostly dependent on agriculture and another primary sector and the city is also known to be one of the highest grain producers in the country. The state also has a huge inflow of foreign exchange because of the Punjabi people who are working abroad.

13. Haryana – GDP Rs.7.65 lakh Crore

Next on the list is Haryana and the state shares its border with Delhi and Punjab. The economy of the city is also dependent on agriculture but the state also produces a lot of professionals who excel in many other fields like sports. The city has seen a lot of development in recent years.

12. Delhi – GDP 7.98 Lakhs Crore

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You must have opined that the national capital of India with lavish colonies and huge no of the population turning towards it for a more valuable job must be the top state in India to be called as rich but Delhi stands at no.13. The total GDP Delhi generated in the economic year of 2014-15 is 4.51 lakh crore which grew a lot in last year, the amount has earned the 13th spot in the list. Delhi is the first choice for Job Aspirants as the NCR (National Capital Region) area expanded to NOIDA and Gurugram has plenty of MNC’s to enrol with the excellent working environment and as expected salary package.

11. Kerala – GDP Rs.8.75 lakh Crore

Next on our list is Kerala and the state is on number 9 with its GDP of 8.75 Lakh Crores. The state lies on the coastal belt and hence a lot of income is generated from Fishing and rice production. The coconut crops also enable the state to earn a huge sum of money which certainly contributes a lot in terms of GDP. It is also one of the most educated states in India.

10. Madhya Pradesh – GDP Rs.9.09 lakh Crore

Madhya Pradesh is located in the central region of India and as it is located in the middle, the state is generally termed as “the heart of India”. Madhya Pradesh is the second largest state of India in terms of area and acts as the hub of many cities. Bhopal has been called as the capital of country and Indore is the largest city of Madhya Pradesh. In the list with 8.26 lakhs, Crore Madhya Pradesh gained the eleventh spot and the state has won the National Tourism Award in 2010-11.

9. Telangana – GDP Rs.9.87 lakh Crore

Telangana is the newly formed state and it was formed by the partition of Andhra Pradesh. The state has a city like Hyderabad which houses companies like Google, Microsoft, and many others. The state’s GDP is dependent on agriculture and crops like mango, sugarcane, cotton, and tobacco are harvested in Telangana. Telangana also has a high number of industries in the state and there are several pharmaceutical companies in Telangana which enable the state to earn a lot of money.

8. Andhra Pradesh – GDP 9.73 lakh Crore

Andhra Pradesh is the eighth largest state in India in terms of its area and co-incidentally the state stands at no.7 in our list of riches state. The state is located on the south-east coast of the country. Recently the state was in news as Telangana the newly formed state in India making the counts of states in India 29 separated from Andhra Pradesh.

7. Rajasthan – GDP Rs.10.21 lakh Crore

Rajasthan is the northern state of India and surely one of the top states for tourism, as the state bestows lavish palaces and forts with rich heritage past of the region. Rajasthan shared its border with Pakistan and is termed as the largest state in India in terms of area. Jaipur the famous Pink City is the capital of Rajasthan and population wise Rajasthan stands at 7th spot in the states of India.

6. Karnataka – GDP Rs.16.38 Lakhs Crores

Karnataka is one of the most progressive states in India, the state with highest literacy rate will surely contribute well for India’s overall GDP. The southern State is known as the high-tech hub for the finest set of shopping options and to enjoy the best of nightlife in the city.

5. Gujarat – GDP Rs.16.48 lakh Crore

Gujarat is India’s westernmost state and remains in the heart of Hindu aspirants as the devotional state as it has many sacred sites in different parts of the state. Gujarat stands as the base of the famous Freedom Fighter and Father of the Nation Mahatma Gandhi, his Sabarmati Ashram is still sighted as the museum. Gujarat-The state of businessmen and entrepreneur stands at the 5th spot.

4. West Bengal – GDP Rs.16.69 lakhs Crore

West Bengal is the Eastern Indian state with its boundaries touches the famous Himalayan range and Bay of Bengal that is named after the state. Kolkata is the capital of the state, West Bengal shines amongst the state with the highest literacy rate.

3. Uttar Pradesh – GDP Rs.17.05 lakh Crores

Uttar Pradesh with highest no of constituency assembly members stands at the fourth spot in the list. Area wise Uttar Pradesh is a 4th largest state in India with its capital Lucknow. In terms of Population, Uttar Pradesh is the highest populated state in India.

2. Tamil Nadu – GDP Rs.20.91 lakh Crores

The South Indian State Tamil Nadu is famous for its Dravidian-Style Temples and Kanyakumari region, the region is known as the sunset point, the looks of the sun setting at evening is just awesome.

1. Maharashtra – GDP Rs.28.18 lakh crore

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Maharashtra located in the west-central part of India is the richest state in India with grossing GDP of 28.18 lakh crore. The economic capital of India Mumbai is the capital of Maharashtra with highest no. of millionaires and billionaires that counts it as the top.

Around the World, the criteria of GDP is used to measure the success rate of all the countries and it also helps to see the sector that grew or were marginalized from the last year. The ranking of India as per the leading survey site world’s richest positioned India at the third position with a GDP of 10.505 trillion USD. The same criteria of GDP are used to measure the state wise contribution of different states in India’s GDP, the calculations call for some surprising and some shocking revelation.

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