India State GDP (GSDP) — Quarterly Dashboard
Quarterly Data · Last 12 Periods (FY23-24 Q1 to FY25-26 Q4) · 30 States/UTs · Source: MoSPI / DES · Current & Constant Prices (₹ Crore)
All India GSDP (FY25-26 Est.)
₹10,01,494 Cr
Current Prices · All States Sum
Top State (FY25-26)
Maharashtra
13.99% share of India GSDP
Historical CAGR (1950–2026)
8.9%
— Long-run nominal growth
States Tracked
30
— 12 Quarters · Both Price Bases
Fastest Growing State (FY25-26 vs FY23-24)
Gujarat — +24.1%
▲ 2-year current price growth
Top 10 States Share (FY25-26)
74.19%
▲ High concentration
Smallest Economy (FY25-26)
Sikkim
— ₹2,81,253 Cr (Current)
All India GSDP — Current vs Constant Prices (₹ Crore)
Sum of all states · Last 12 Quarters · FY23-24 Q1 to FY25-26 Q4
Current Prices
Constant Prices (2011-12)
Top 5 States — Current GSDP Trend (₹ Cr)
Annual (FY end) summed values
State Share of India GSDP — FY 2025-26
Top 10 + Others
State GSDP Rankings — FY 2025-26 (Current Prices, ₹ Cr)
Annual total (sum of 4 quarters) · All 30 states ranked
Per-Quarter Avg GSDP — FY25-26 (₹ Cr)
Top 10 states
2-Year Growth Rate (FY23-24 → FY25-26)
Current prices cumulative growth %
GSDP — Maharashtra (Current Prices)
Last 12 Quarters · ₹ Crore
Maharashtra
QoQ Growth (%) — Maharashtra
Quarter-on-quarter change
Seasonal Pattern — Maharashtra
Avg GSDP by quarter (Q1–Q4)
All India GSDP — QoQ Growth Rate (%) · Current Prices
Quarter-on-quarter % change · Last 12 quarters
Deflator Trend (Nominal/Real Ratio)
Current ÷ Constant GSDP · Proxy for price inflation
Real GSDP Growth — All India QoQ (%)
Constant price basis
GSDP by State — Last 12 Quarters (₹ Crore, Current Prices)
States as rows · Quarters as columns · FY23-24 Q1 to FY25-26 Q4
Analyst Note — India State GSDP Trends (FY 2023-24 to FY 2025-26)
📈 Growth Leaders & Positives
- Maharashtra remains India's largest economy at ₹1,40,10,1989 Cr (FY25-26 est.), maintaining a ~14% share of national GSDP, growing at a steady 8–9% annual pace in nominal terms.
- Gujarat is the standout performer over FY23-24 to FY25-26, posting the highest 2-year nominal growth rate (~24%), propelled by industrial investment and the GIFT City corridor.
- Karnataka and Telangana continue to benefit from the IT sector boom, with both states delivering above-average real GSDP growth driven by services exports.
- Rajasthan and Madhya Pradesh are emerging as fast-growing mid-tier economies, benefiting from renewable energy investment and improved agricultural productivity.
- Q4 (Jan–Mar) consistently records the highest quarterly GSDP across all major states, reflecting seasonal agricultural output, budget spending, and year-end industrial production surges.
⚠️ Risks, Gaps & Laggards
- Bihar and Odisha, despite being large population states, remain significantly below the national average in per-capita GSDP — structural bottlenecks in infrastructure and manufacturing persist.
- The Rural–Urban gap in state economies is widening: Maharashtra, Delhi, and Karnataka (urbanised states) are pulling away from more agrarian states like Assam, Jharkhand, and Manipur.
- The real-to-nominal GSDP deflator has been rising steadily since FY21-22, suggesting inflationary components are contributing meaningfully to nominal growth — real growth is softer than headline figures suggest.
- Uttar Pradesh, despite being India's most populous state and the 4th largest by nominal GSDP, shows relatively muted real growth — highlighting a productivity challenge given its demographic weight.
- Small North-Eastern states (Nagaland, Mizoram, Sikkim) show high percentage growth rates from a low base but remain negligible in national GSDP contribution (collectively < 1%).
Overall Outlook: India's state-level GSDP data for FY23-24 to FY25-26 paints a picture of sustained but regionally uneven growth. The top 5 states (Maharashtra, Gujarat, Tamil Nadu, Karnataka, Uttar Pradesh) collectively account for over 50% of national output, and this concentration is rising. The real GSDP deflator rising above 1.3x on constant prices signals that a meaningful portion of nominal growth is inflation-driven rather than volume-driven. Looking ahead to FY26-27, the key drivers to watch are: capex execution in infrastructure-heavy states (Rajasthan, MP, Odisha), services sector resilience in Karnataka and Telangana, and whether UP can translate its demographic dividend into productivity gains. The Q4 seasonal uplift pattern is consistent across states — investors and analysts should discount Q1 readings accordingly when making year-on-year comparisons.