Introduction
While economies like China are slowing down, fears of recession are once again rising in Germany, and America is facing another banking crisis, India’s economy is surging ahead like a rocket. Global institutions and rating agencies are calling India the ‘bright spot’ in the global economic landscape. It is predicted that by 2028, India will become the world’s third-largest economy. Amid this scenario, several Indian states are racing to become trillion-dollar economies. Let’s find out which states are leading this charge.
Maharashtra: The Forefront of India’s Economic Growth
Maharashtra currently has the largest economy in the country, with a GDP size of 430 billion dollars. The state’s GDP growth rate is over eight percent. Maharashtra’s government aims to reach the trillion-dollar economy mark by 2030, which requires the state’s economy to grow at a rate of 11 percent. To achieve this, the state government is focusing heavily on infrastructure, health, transportation, agriculture, and the industrial sector.
Uttar Pradesh: Aiming for a Trillion-Dollar Economy by 2027
The Yogi Adityanath-led government in Uttar Pradesh has set a goal to become a trillion-dollar economy by 2027. This will involve massive investments of 40 lakh crore rupees, which will be spent on infrastructure, health, judiciary, education, heavy industries, and others. To achieve this goal, the annual growth rate needs to be increased to 30-35 percent, and the manufacturing sector’s contribution needs to be elevated to 45 percent.
Tamil Nadu: Racing Toward a Trillion Dollar Economy
Tamil Nadu, with a current GDP of 320 billion dollars, is also rapidly advancing towards becoming a trillion-dollar economy. The state’s economy is growing at a rate of more than 11 percent. The state government aims to reach the trillion-dollar mark by 2030 and has prepared many ambitious plans to achieve this goal.
Karnataka: The Global Innovation and Startup Hub
Karnataka, known as a global hub for innovation and startups, also aims to become a trillion-dollar economy. The state’s current GDP is 245 billion dollars, and the GDP growth rate is 8.8 percent. The state aims to become a trillion-dollar economy by 2027, requiring a GDP growth rate of 15 percent.
Gujarat: The State with the Longest Coastline
With the longest coastline in the country, Gujarat had a GDP of 288 billion dollars in 2022. The state’s GDP growth rate is approximately 13 percent. The Gujarat government aims to increase the GDP to 500 billion dollars by 2027, requiring a growth rate of 14.5 percent.
In conclusion, while the global economy faces numerous challenges, India’s economy, led by its dynamic states, is surging ahead with ambitious goals. These states, with their diverse strengths and strategic plans, are set to drive India’s growth story in the coming years.
