Maharashtra, arguably the most industrialised state of India, is the biggest in terms of state gross domestic product (GSDP). With a GSDP of Rs 31.1 lakh crore, it is far ahead of Tamil Nadu, which is in second place in India on this parameter. The GSDP of Tamil Nadu is Rs 23.6 lakh crore.
However, the significant point is the GSDP of Maharashtra ($439 billion) towers over the GDP of entire Pakistan which is $338 billion. The figures are for 2022-23.
UP, Karnataka, Gujarat
The states of Uttar Pradesh, Karnataka and Gujarat occupy the third, fourth and fifth positions in the country in terms of GSDP. The GSDP of these states stands at Rs 22.6 lakh crore, Rs 22.4 lakh crore and Rs 19.4 lakh crore respectively.
LIC AUM, too, towers over Pakistan’s GDP
In end-May, after Life Insurance Corporation (LIC) informed the stock exchange authorities that its assets under management (AUM) surged 16.48% to stand at Rs 51.21 lakh crore at the end of FY24, it was found that the insurance company managed a fund that was almost double that of Pakistan’s GDP that stood at $338.24 billion. LIC’s AUM was at $616 billion.
The state of Mizoram has the smallest GSDP among Indian states. It stands at Rs 0.3 lakh crore.
Tamil Nadu leads in manufacturing
In terms of number of factories, Tami Nadu is the king. This southern state has got 1.51 times the number of factories of Maharashtra and 1.36 times that of Gujarat. Tamil Nadu has 38,837 factories while second-placed Gujarat has got 28,479 factories. The number of factories in Maharashtra is 25,610.
However, if you take the benchmark of per capita net state domestic product, Maharashtra falls behind five other states.
Telangana on top in per capita net SDP
Per capita net state domestic product (NSDP) is significant since it measures the economic output of a state in the country divided by its population.
Therefore, it cancels out the advantage that a big state might have on the absolute numbers due to its bigger size and population.
In FY23, Telangana topped the Indian states with a per capita net state domestic product of Rs 3,08,732.
The other five states in this metric were Karnataka with Rs 3,01,673, Haryana with Rs 2,96,685, Tamil Nadu with Rs 2,73,288 and Maharashtra with Rs 2,42,247.
Source of the data
The data has been published in a newspaper which has obtained it from Forum for State Studies, a body of economists, legal experts, bankers and bureaucrats.
Maharashtra is the biggest Indian state in terms of GDP. The gross state domestic product is 30% bigger than the GDP of our neighbouring country. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
