According to RBI, Gujarat grew as Indias Largest Manufacturing Hub
Highlights:
Gujarat has left behind Maharashtra to grow as the countrys leading manufacturing hub.
Data reveals that Gujarat witnessed its Gross Value Addition (GVA) in manufacturing increase by 15.9 percent yearly amidst FY12 and FY20 to reach Rs 5.11 lakh crore.
GVA is a financial metric that covers the supply of goods and Services.
Meanwhile, Maharashtras annual Growth rate persisted at half of Gujarats at 7.5 per cent for the same period, and its GVA for manufacturing reached Rs 4.34 lakh crore in FY20.
Maharashtra is still the foremost provider of services in India, with the states services GVA growing by 12.6 percent yearly, attaining Rs 15.1 lakh crore in FY20.