RBI: Gujarat became India’s Largest Manufacturing Hub

Gujarat has left behind Maharashtra to become the country’s leading manufacturing hub, according to data from the Reserve Bank of India (RBI). Gujarat saw its Gross Value Addition (GVA) in manufacturing grow by 15.9 per cent annually between FY12 to FY20 to stand at Rs 5.11 lakh crore, data shows. GVA is an economic metric that measures the supply of goods and services in an economy.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Meanwhile, Maharashtra’s annual growth rate stood at nearly half of Gujarat’s at 7.5 per cent for the same time period and its GVA for manufacturing stood at Rs 4.34 lakh crore in FY20. Maharashtra is still the leading provider of services in India, with the state’s services GVA growing by 12.6 per cent annually, standing at Rs 15.1 lakh crore in FY20.

Important takeaways for all competitive exams:

• Gujarat Capital: Gandhinagar;
• Gujarat Governor: Acharya Devvrat;
• Gujarat Chief minister: Bhupendrabhai Patel.

Find More State In News Here