Recent estimates show that Maharashtra’s Gross State Domestic Product (GSDP) stands at Rs 42.67 lakh crore, translating into USD 490 billion. Tamil Nadu’s GSDP is Rs 31.55 lakh crore, i.e., USD 329 billion.
New Delhi: While India has successfully shown the world its military edge over Pakistan by launching Operation Sindoor and tackling Pakistan in the incidents after that, now it is the turn of India’s economy to prove its mettle. Notably, Pakistan’s economy can’t even match individual Indian states like Tamil Nadu and Maharashtra. According to the latest figures compiled by international financial institutions, which include the World Bank and the International Monetary Fund (IMF), Pakistan’s economy significantly lags behind some Indian states.
In 2004-05, Pakistan’s economy was around USD 132 billion. It currently hovers around USD 338 billion to USD 373.08 billion. In contrast, Maharashtra’s economy has grown from USD 92 billion in 2004-05 to USD 490 billion in 2023-24. Tamil Nadu’s economy has also displayed significant growth, as it has gone up to USD 329 billion in the same period from USD 48 billion.
Recent estimates show that Maharashtra’s Gross State Domestic Product (GSDP) stands at Rs 42.67 lakh crore, translating into USD 490 billion. Tamil Nadu’s GSDP is Rs 31.55 lakh crore, i.e., USD 329 billion.
As per these numbers, Maharashtra’s GDP is 45 per cent larger than Pakistan’s entire economy, while Tamil Nadu is almost equal to it.
The growth trajectories of these two Indian states outpace Pakistan’s growth. In the 2004-05 period, Pakistan’s GDP was almost 1.5 times that of Maharashtra, while Tamil Nadu accounted for just 37 per cent of Pakistan’s economy.
Maharashtra has focused on industrialisation, infrastructure development, as well as economic liberalisation policies. Tamil Nadu has benefited enormously from its automotive, textile, and electronics sectors.
Pakistan, on the other hand, relies on bailout packages from the IMF. Recently, IMF reviewed Pakistan’s Extended Fund Facility (EFF), which includes a $1 billion instalment, and considered a new USD 1.3 billion Resilience and Sustainability Facility (RSF).
In a press release, India questioned whether the repeated failures stemmed from weaknesses in the IMF’s programme design, its monitoring processes, or Pakistan’s unwillingness to implement necessary reforms.
