Rajasthan's Economy and Industry
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Recognized as the largest state in India, Rajasthan is progressing rapidly towards making itself as one of the developed state in India. The up-coming talent of Rajasthan is hosting its flag in every corner of country and in world. This makes Rajathan as the most happening destination from the investment point of view. Rajasthan has become the most liked place not only by the national investors but also by several multi national companies who are interested to step in Rajasthan to establish their set up. Jaipur is the capital of state and now with the investors coming up with fresh ideas several new jobs in IT field are expected to be generated in coming few years. Rajasthan is the 8th highest economy of India with Net State Domestic Product (NSDP) counting to US$ 11.5 billion.
The major industries on which the economy of Rajasthan primarily depends are agriculture, tourism, crafts, stones, and natural resource. Agriculture counts to 22.5% to the gross domestic product in state. Rajasthan has the agricultural land upto twenty million hectare of only 20% of the land is used for agricultural purpose. Agriculture is depended both on rainfed and ground water. Major important agricultural crops are wheat, oilseeds, ground nuts, jowar, barley, gram, pulses, bajra, maize, and spices.
The other industries that play an important role in state’s economy are rugs, vegetable oil, woolen goods, dyes, and textile industries which collectively provide 32.5 of the gross domestic product in economy. The private sector industries like stone, footwear and leather, glass wares and ceramics, steel, cement, and chemical industries also play an important in improving the economy of Rajashtan. The heavy industries like rolling railway stock and zinc and copper smelting play a vital role in economy. The cement and salt industries also have an important role to play in improving state’s economy their contribution counts 15% and 10% of production in India respectively.
The other industry which has remarkable place in economy and which generates heavy revenue for state is its tourism sector. Rajasthan has huge basked of tourist destinations that have marked their position in whole world. The fragrance of Rajasthani culture and historical places attracts every one towards itself. Every year a huge fleet of national and international visitors visit these historical places and state earns a healthy sum of revenue. The share of tourism industry in state’s economy is 15% of the total GDP.
In recent years the economy of state has flourished rapidly and improving with fast tract this is mainly due to sincere efforts made by every ruling government in Rajasthan.