Economy of Gujarat
Ahmedabad, the financial capital and largest city of Gujarat | |
| Currency | Indian Rupee ₹ |
|---|---|
| 1 April – 31 March | |
| Statistics | |
| Population | 73,062,000 |
| GDP | ₹29.82 trillion (US$350 billion) (nominal; 2025 est.) $1.47 trillion(PPP; 2025 est.) |
| GDP rank | 5th (2025-26) |
GDP growth | 12% (2025) |
GDP per capita | $5,016 (nominal; 2025 est.) $20,253 (PPP; 2025 est.) |
GDP per capita rank | 7th |
GDP by sector | Agriculture: 20% Industry: 45% Services: 35% (2022–23) |
Population below poverty line | 15% in poverty (2019–20) |
| 0.727 high (2023) (25th) | |
| Unemployment | 3.9% (Nov 2020) |
Main industries |
|
| External | |
| Exports | US$150 billion (2022–2023) |
Export goods |
|
FDI stock | ₹20,169 crore (US$2.4 billion) (2020–21) |
| Public finances | |
| 15.27% of GSDP (2023–24 est.) | |
| ₹−44,930 crore (US$−5.3 billion) 1.8% of GSDP (2023–24 est.) | |
| Revenues | ₹2.25 lakh crore (US$27 billion)(2023–24 est.) |
| Expenses | ₹2.7 lakh crore (US$32 billion)(2023–24 est.) |
All values, unless otherwise stated, are in US dollars. | |
The economy of Gujarat, a state in western India, is the most industrialised in India, having the highest industrial output of any state in the union. It has the highest exports of any Indian state, accounting for 30.7% of all Indian exports in 2024-2025. It leads in diverse industrial sectors such as chemicals, petrochemicals, dairy, drugs and pharmaceuticals, cement and ceramics, gems and jewellery, textiles and engineering. It has the highest electricity production capacity and maritime port cargo volume among all states in India. It also has significant agricultural production with major agricultural produce of the state being cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Gujarat recorded the lowest unemployment rate in India in 2022, with 4.4% of the labour force being unemployed.
Gujarat is ranked number one in the pharmaceutical industry in India, with a 33% share in drug manufacturing and 28% share in drug exports. The state has 130 USFDA certified drug manufacturing facilities. Ahmedabad and Vadodara are considered as pharmaceutical hubs as there are many big and small pharma companies established in these cities.
Gujarat has the longest coastline in India (1,600 km [990 mi]), and its ports (both private and public) handle around 40% of India's ocean cargo, with Mundra Port located in Gulf of Kutch being the largest port of India by cargo handled (144 million tons) due to its favorable location on the westernmost part of India and closeness to global shipping lanes. Gujarat also contributes around 20% share in India's industrial production and merchandise exports.
Gujarat's gross state domestic product (GSDP) increased to Rs. 25.68 lakh crore in fiscal year 2023–24, surpassing Uttar Pradesh's GSDP of Rs. 25.48 lakh crore (US$310 billion). In contrast, Tamil Nadu's GDP increased from Rs. 23.93 lakh crore to Rs. 27.22 lakh crore. While Karnataka GSDP falls behind UP GSDP and is Rs. 25.01 lakh crore. For fiscal year 2023-24 Gujarat became the third largest state economy in India.