Top 10 Wealthiest States in India and Their Economic Strength

India’s economic structure is shaped by the contributions of its 28 states, each playing a significant role in the nation’s Gross State Domestic Product (GSDP). Some states have gained wealth through advancements in agriculture, tourism, and technology. Maharashtra leads as the richest state in India, with Mumbai serving as its financial hub and home to Bollywood and numerous multinational corporations. Tamil Nadu, known for its IT, textile, and automotive industries, ranks second. Karnataka, particularly Bengaluru, recognized as India’s tech capital, secures the third position. Other states benefit from natural resources, industrial growth, and trade, which help sustain their economies.

Top 10 Richest States in India and Their Annual GSDP

The following list, based on Forbes data for 2024–2025, highlights the wealthiest states in India and the primary sources of their economic strength.

Overview of the Wealthiest States and Their Economic Drivers

1. Maharashtra
2. Maharashtra continues to be India’s economic powerhouse, with a projected GSDP of ₹42.67 lakh crore for 2024–2025. The state’s economy thrives on manufacturing, entertainment, banking, and information technology. Mumbai, India’s financial capital, houses major financial institutions and corporate headquarters, further strengthening its economic dominance.
3. Tamil Nadu

Tamil Nadu’s economy, estimated at ₹31.55 lakh crore in 2024–2025, is diverse, encompassing manufacturing, textiles, automotive, and information technology. The state’s coastal location provides an advantage for trade and exports, boosting its financial standing.

4. Karnataka

Karnataka is anticipated to record a GSDP of ₹28.09 lakh crore in 2024–2025. The state is known for its strong manufacturing, biotechnology, aerospace, and IT sectors. Bengaluru, its capital, is often called the “Silicon Valley of India” due to its thriving tech industry.

5. Gujarat

Gujarat has established itself as an industrial hub, specializing in petrochemicals, textiles, and pharmaceuticals. The state’s economy, projected at ₹27.9 lakh crore, benefits from significant investments, excellent infrastructure, and policies that favor businesses.

6. Uttar Pradesh

With a GSDP of ₹24.99 lakh crore, Uttar Pradesh maintains its economic strength largely through agriculture, particularly the production of rice, wheat, and sugarcane. Additionally, the state has recently witnessed growth in manufacturing and service industries, further diversifying its economic base.

7. West Bengal

West Bengal’s economy, valued at ₹18.8 lakh crore, is supported by agriculture, manufacturing, and the service sector. As India’s leading producer of jute and paddy, the state also has a growing IT sector, particularly in Kolkata, which contributes to its overall development.

8. Rajasthan

Rajasthan’s economy, estimated at ₹17.8 lakh crore, relies on tourism, mining, and agriculture. The state’s historical landmarks and cultural heritage attract a large number of tourists, making tourism a key economic driver.

9. Telangana

Telangana’s economy is expected to reach ₹16.5 lakh crore in 2024–2025, driven primarily by IT, pharmaceuticals, and biotechnology. Hyderabad, the state capital, serves as a major IT hub, attracting investments from global technology firms.

10. Andhra Pradesh

Agriculture remains the backbone of Andhra Pradesh’s economy, with a GSDP of ₹15.89 lakh crore. The state is also focusing on horticulture and expanding its manufacturing sector to strengthen economic growth.

11. Madhya Pradesh

Madhya Pradesh’s economy, projected at ₹15.22 lakh crore, depends on agriculture, mining, and forestry. The state is a leading producer of wheat, soybeans, and pulses, and is gradually moving towards industrialization to further economic progress.