The prosperity of the regions of India is measured in terms of their GDP. We have found top 10 richest states in India and we are listing it down in this article.
India is a vast nation, where there are social, cultural and religious differences among one are and others. Moreover, the urban population of the country accounts for a bigger proportion of wealth, making cities wealthier than the rural areas. Its GDP that makes some states richer as compared to others.
Top 10 Richest states in India 2016
- Uttar Pradesh
- West Bengal
- Andhra Pradesh
- Tamil Nadu
India’s one of the richest state, Gujarat is the one of the most urbanised state. It is the most populous and sixth largest state by area in India. It has a high rate of economic growth, and the biggest contribution comes from the industrial sector. The development in Gujarat over the last few years are the main reason for Gujarat being one of the richest states.
As per the 2016 ranking by worldsrichestcountries.com, India, with a GDP of 8.80 trillion, stands at the Number 3 position in the list of World’s Richest Countries.
Forbes reported that though the number of millionaires in India went up by over 400 percent during the 2000 to 2015 period, a lot of people in the country are still living well below the poverty line. During the same period, the total wealth in the country went up by 211 percent.
Indian states jumped to a huge productivity lead early last century by developing a resource- and capital-intense, high-throughput style of manufacturing producing mass market goods. Adoption of development methods eventually led to a period of rapid catch-up growth, the process of catch-up was never quite completed. And so that’s one gap to explore.
Join us on facebook for other interesting articles.