Tamil Nadu recorded the highest Gross State Domestic Product growth among major Indian states in 2024–25, expanding by nearly 16 per cent compared to the previous year, according to the latest report from the Reserve Bank of India.
The RBI’s Handbook of Statistics on Indian States, 2024–25 showed that Tamil Nadu outperformed other large states such as Maharashtra and Karnataka in terms of growth during this period.
Tamil Nadu Tops Major States in GSDP Growth With Nearly 16% Expansion in 2024–25
The report also highlighted a significant increase in Tamil Nadu’s per capita income, reinforcing its status as one of India’s high-income economies.
At current prices, the State’s GSDP rose from ₹26.88 lakh crore in 2023–24 to ₹31.18 lakh crore in 2024–25, reflecting a year-on-year growth rate of 15.98 per cent.
This strong performance follows a steady upward trend over the last three years, with GSDP growth of 14.47 per cent between 2021–22 and 2022–23, and 13.34 per cent between 2022–23 and 2023–24.
Among other large states, Karnataka posted GSDP growth of 12.77 per cent in 2024–25, while Maharashtra grew by 11.70 per cent.
Uttar Pradesh recorded growth of 12.69 per cent during the same year.
Gujarat’s GSDP figures were not included in the current RBI release, as its latest estimates were not published.
Tamil Nadu’s per capita income increased sharply from ₹3,13,329 in 2023–24 to ₹3,61,619 in 2024–25, marking a rise of 15.41 per cent.
Tamil Nadu Ranks Fourth Nationally in Per Capita Income
With this increase, Tamil Nadu ranked fourth nationally in per capita income among states and Union Territories for which data was available.
The State trailed behind Delhi, Telangana, and Karnataka in per capita income rankings, with Karnataka reporting ₹3,80,906 and Telangana ₹3,87,623.
Tamil Nadu’s per capita income growth has been consistent over the three years reviewed, rising by 13.59 per cent in 2022–23, 13.83 per cent in 2023–24, and 15.41 per cent in 2024–25.
This steady rise in income levels reflects the broader acceleration of the State’s economic growth during the same period.
Although Maharashtra continues to have the largest GSDP in absolute terms, its growth rate remained slower than that of Tamil Nadu.
Karnataka maintained double-digit growth but still lagged behind Tamil Nadu in terms of overall expansion pace in 2024–25.
Uttar Pradesh experienced particularly strong growth between 2022–23 and 2023–24, but its growth moderated in 2024–25.
Finance Minister Thangam Thennarasu said that Tamil Nadu achieving the highest GSDP growth among major states was a matter of great pride for the State.
Industries Minister TRB Rajaa linked the economic performance to welfare initiatives, saying, “This growth is happening in parallel with some of the largest welfare schemes the State has ever rolled out. You called them ‘freebies’, we said they are economic enablers. This is proof.”
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