Maharashtra, however, continues to lead as the nation’s biggest services hub.
Gujarat has pipped Maharashtra to emerge the largest manufacturing hub in the country, with the former’s Gross Value Addition (GVA) in manufacturing growing 15.9 per cent annually on average between FY12 and FY20 to touch Rs 5.11 lakh crore, according to the data released by the Reserve Bank of India (RBI).
Maharashtra’s annual growth rate during the period was 7.5 per cent per annum, taking the state’s total manufacturing GVA to Rs 4.34 lakh crore in FY20. It continues to lead as the nation’s biggest services hub.