Context:
According to State Bank of India (SBI) research, by the year 2027, UP’s economy will be second in the country after Maharashtra.
Uttar Pradesh’s Economic Growth
- Uttar Pradesh (UP) is emerging as the fastest-growing economy in India.
- UP’s share in India’s GDP will increase from 7% to 10%, while Maharashtra’s share will be 13%.
- UP will surpass states like Tamil Nadu, Karnataka, and Gujarat, and its economy will be equal to that of Norway.
Current and Future Economic Status
- The total GDP of all Indian states is $38.6 trillion.
- UP’s state GDP (GSDP) was $317 billion in 2024.
- The Chief Minister of UP aims for the state’s economy to reach $10 trillion in the next five years.
- By 2027, UP’s GSDP is expected to increase to $515 billion, growing by $198 billion in just two years.
Economic Milestones of UP
- UP will surpass Tamil Nadu in economic development within the next two years.
- By 2027-28, UP and Maharashtra will both cross a GSDP of $500 billion.
- Together, these two states will contribute about 25% to India’s national GDP.
- These are the top 10 GDP states in the country: