Gujarat replaces Maharashtra as India’s manufacturing hub: Latest RBI data

Gandhinagar: Gujarat has taken the place of Maharashtra as the biggest manufacturing hub in the country as per the recent data released by Reserve Bank of India (RBI).

As per the data released by RBI, the Gross Value Addition (GVA) of Gujarat in manufacturing has grown at 15.9 per cent annually on average between FY’12 and FY’20 to touch Rs 5.11 lakh crore. Annual growth rate of Maharashtra during this period was 7.5 per cent, taking the total manufacturing GVA of the state to Rs 4.34 lakh crore in FY ’20. However, Maharashtra has maintained its position as the leading provider of service in the country. Gujarat has witnessed the highest level of capital investment in terms of gross fixed capital formation (GFCF) between FY ’12 and FY’19 at a total Rs 5.85 lakh crores.

Rajasthan, Telangana and Andhra Pradesh were the worst performers among states which were among the top 10 during the period. The average annual growth rates of Rajasthan, Telangana and Andhra Pradesh were 3.8 per cent, 5.5 per cent and 6.9 per cent, respectively. DeshGujarat