8 Most Developed States Based On GDP 2015 in India

BANGALORE: For a developing nation like India it is important to make sure that its growth happens virtually with the development of its states. On the other hand, the successful functioning of states in a country is always a major factor. The economic stability of a nation can be observed with the Gross Domestic Product (GDP) rates, so let us take a look at top 8 states in India as of 2015 in terms of GDP as compiled by top10wala.

Maharashtra

Maharashtra is India’s third largest state and world’s second most populous sub national entity. It is also the country’s leading industrial state and number one in terms of GDP. As of 2015, the GDP of the state is 1, 476,233 crore and this is calculated as 14 percent of nation’s economy.

Maharashtra is also the third-most urbanized state with urban population of 45 percent of whole population. India's largest stock exchange ‘Bombay Stock Exchange’ which is the oldest in Asia is located in Maharashtra.

 Uttar Pradesh

The most populous state in the country, Uttar Pradesh is second in development in terms of GDP. The state is the fourth largest by area with agriculture and industries being the largest part of its economy. 70 percent of India’s sugar is produced by the state and its other major manufacturing products are engineering equipments, cables, electronics, steel and leather.

The state attracts good foreign direct investments too which has mostly come in the software and electronics fields.  Noida and Lucknow is becoming a major hub for the information technology industry. As of 2015 its GDP is of 886, 410 crore.

 Tamil Nadu

The southernmost state of the country, Tamil Nadu is giving a tough fight to Uttar Pradesh to achieve the second spot in development chart based on GDP. The sixth most populous state currently stands in third position with the GDP of 850,319 crore.

It is also accounted as one among the most industrialized as well as urbanized states in the country. Tamil Nadu has a network of about 113 industrial parks and estates offering developed plots with supporting infrastructure. It has been ranked first by the Economic Freedom Rankings for the States of India.

Gujarat

The state which is referred as Jewel of the western part Of India, Gujarat does not lag behind in terms of development based on GDP. Thus it holds fourth position with the GDP of 765, 638 crore. The growth of 15 percent from the previous year is a drastic one showed by the state.

The economy of the state depends on agriculture of cotton, groundnuts, dates, sugar cane and industries like cement and petrol.  It is also referred as most prosperous state in the country since it has a higher per-capita GDP which is more than the country’s average. 

West Bengal

India’s fourth most populated state West Bengal is named as the fifth most developed state in terms of GDP. The state is known as ‘the cultural capital of India’ since it has a rich cultural background with musicians, poets and legendary actors hailing from the state.

The state is primarily dependent on agriculture and medium size industries but services and heavy industries play a major role in the increasing economy of the state. The state now has a GDP of 707,848 crore.

Karnataka

Karnataka is next in the list at sixth position with a GDP of 614, 607 crore. The state has recorded the highest growth rates in terms of GDP and per capita GDP in the last decade compared to other states. It is accounted among the economic growth states in the country due to the high industrialization in cities like Bangalore and Mangalore. The state also seems to receive huge Foreign Direct Investments and it also poses a lower unemployment rate as compared to the average of the country.

 Rajasthan

India’s largest state by area, Rajasthan is at seventh position in the development based on GDP list. It has a GDP of 513, 688 crore. The Economy of the state is primarily agricultural and pastoral. The problem of famine and drought is deeply related with the economy of Rajasthan.

Last year, Rajasthan was the leading investment destination in India after Maharashtra and Gujarat because of peaceful environment, better law and order situation, excellent infrastructure, investment friendly climate and very less population density.

Andhra Pradesh

Andhra Pradesh is the eighth most developed state in the country based on GDP. The growth in the state is mainly driven by agriculture, industry and service sectors. The priority areas of the state in the economy include Food processing, Software Export, Financial Services, Electronics, power, Textiles and Tourism. The state has started to focus on the fields such as Information Technology and Biotechnology. It is also referred as a mineral rich state and stands with a current GDP of 464, 184 crore. 

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