Prime Highlights
- Gujarat’s per capita income has crossed ₹3,00,000 for the first time, marking a major economic milestone for the state.
- The state’s long-term economic growth averaged 8.42% from 2012–13 to 2023–24, the highest among large Indian states with economies above ₹10 lakh crore.
Key Facts
- Gujarat’s GSDP reached ₹24.62 lakh crore in 2023–24, placing it among India’s top five state economies.
- Manufacturing contributed ₹7.43 lakh crore in 2023–24, accounting for nearly one-third of the state’s total value added.
Background
Gujarat has recorded a major economic milestone, with its per capita income crossing the ₹3 lakh mark for the first time. According to an official release, the state’s per capita income now stands at ₹3,00,957, placing it ahead of Maharashtra and Uttar Pradesh and reflecting strong labour productivity and broad economic participation.
The statement said Gujarat’s Gross State Domestic Product (GSDP) reached ₹24.62 lakh crore in 2023–24, positioning it among India’s top five economies. Only Maharashtra, Tamil Nadu, Uttar Pradesh, and Karnataka rank higher than this. Officials noted that the state’s strong performance has helped it maintain its image as India’s “growth engine.”
The release added that India’s GDP grew 8.2% in the second quarter ending September, with Gujarat delivering a strong contribution to national growth. The state’s long-term economic expansion remains impressive even at constant prices, which remove the impact of inflation. From 2012–13 to 2023–24, Gujarat grew at an average rate of 8.42% a year, the highest among large states with economies above ₹10 lakh crore. It outpaced Karnataka and Tamil Nadu over the same period.
Officials said Gujarat has managed to sustain high growth at a time when large economies often slow due to saturation. The state benefits from a strong industrial base, investor-friendly policies, modern infrastructure, and effective governance. The latest figures show that many sectors are driving this growth and transformation.
Manufacturing drives Gujarat’s economy, contributing ₹7.43 lakh crore in 2023–24, which is nearly one-third of the state’s total value added. The construction and utilities sector added ₹2.31 lakh crore. Trade, transport, financial services, and real estate brought in ₹7.81 lakh crore. Agriculture, forestry, and fisheries added ₹3.69 lakh crore and helped the state grow steadily.
Gujarat increased its GSDP from ₹6.16 lakh crore in 2011–12 to ₹24.62 lakh crore in 2023–24, nearly four times in just ten years.
