Gujarat has officially crossed a landmark milestone — its per capita income has surged past Rs 3 lakh for the first time, cementing its position as India’s fastest-growing major state economy.
According to the latest economic data, Gujarat’s per capita income now stands at Rs 3,00,957, reflecting a decade of high-velocity growth, industrial dominance, and strategic governance.
With a Gross State Domestic Product (GSDP) of ₹24.62 lakh crore in 2023–24, Gujarat is now among India’s five largest state economies, ranking just behind Maharashtra, Tamil Nadu, Uttar Pradesh, and Karnataka.
A Decade of Unmatched Growth
From 2012–13 to 2023–24, Gujarat recorded an average real growth rate of 8.42% — the highest among all major states with economies above Rs 10 lakh crore.
Its performance outpaced:
Karnataka: 7.69%
Tamil Nadu: 6.29%
Maharashtra: significantly lower due to structural slowdown
At a time when many large states are battling economic fatigue, Gujarat continues to accelerate, powered by long-term policy consistency, world-class infrastructure, and an innovation-driven industrial ecosystem.
Manufacturing Powerhouse + Booming Services Sector
Gujarat’s economic backbone remains its manufacturing sector, contributing:
◆Rs 7.43 lakh crore to GSVA in 2023–24
◆Nearly one-third of the state’s total economic output
Massive contributions also came from:
◆Construction & Utilities:Rs 2.31 lakh crore
◆Tertiary Sector (trade, transport, finance, real estate): ₹7.81 lakh crore
This strong combination of industry and services puts Gujarat on a balanced, resilient, and future-ready growth path.
Agriculture: Modern, Diversified, and Inclusive
Despite rapid industrialisation, Gujarat has not ignored its roots.
Agriculture, forestry, and fishing together contributed:
●Rs 3.69 lakh crore, signalling modernization and smart diversification.
By strengthening both rural and urban pillars, Gujarat continues to deliver inclusive growth rather than isolated economic bursts.
GDP Quadruples in a Decade
Gujarat’s GSDP at basic prices jumped:
●From Rs 6.16 lakh crore in 2011–12
●To Rs 24.62 lakh crore in 2023–24
This nearly 4x expansion in just 12 years demonstrates exceptional economic momentum.
The new per capita income level places Gujarat ahead of several developed states — even surpassing Maharashtra — with only Karnataka and Tamil Nadu slightly ahead.
Gujarat as a National Benchmark
The state government has emphasised that Gujarat’s economic model showcases a rare achievement:
●Rapid growth + High per capita income + Expanding economic base
●Consistent long-term acceleration
●Robust execution under stable governance
As other states grow at moderate speeds, Gujarat’s 8.42% decade-long trajectory offers a blueprint for:
●Resilient economy
●Investment-friendly climate
●Infrastructure-led development
●Transparent governance
Gujarat’s rise is not an overnight success — it is the result of year-after-year structural reforms, industrial diversification, and people-centric policies.
