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 percent 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.

Meanwhile, Maharashtra’s annual growth rate stood at nearly half of Gujarat’s at 7.5 percent 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 percent annually, standing at Rs 15.1 lakh crore in FY20.

Static/Current Takeaways Important For All Exam 2021:

Gujarat Capital: Gandhinagar;

Gujarat Governor: Acharya Devvrat;

Gujarat Chief minister: Bhupendrabhai Patel.