Haryana Targets $1 Trillion GSDP by 2047, Constitutes High-Level Task Force. With an objective of taking Haryana’s Gross State Domestic Product (GSDP) to $1 trillion in the next 25 years, the state government has chalked out a holistic action plan. A ‘Mission Haryana-2047 High-Level Task Force’ has been set up, and Deepak Bagla, who was earlier Managing Director and CEO of Invest India, has been made its chairman.
With more than three decades of experience, Deepak Bagla has managed serious responsibilities with the World Bank, Citibank, and private equity houses in Europe, Africa, and Asia. In order to meet the $1 trillion target, the task force is determining major sectors with high economic growth potential, with special emphasis on exports, manpower increase, and investment growth.
GSDP Growth Consistently Every Year
For 2024-25, Haryana’s GSDP at current prices is estimated at ₹12.16 lakh crore, showing an 11% growth over 2023-24. In the last decade, 2020-21 was the sole exception when GSDP fell by 9% at current prices and 5.8% at constant prices because of the COVID-19 pandemic. Otherwise, the state has seen steady and satisfactory growth in GSDP every year.
Challenges Ahead
But it will not be a cakewalk to achieve a $1 trillion economy. The state government will need to make extra efforts, such as foreign investment attraction, setting up industrial clusters, and promoting MSMEs (Micro, Small, and Medium Enterprises) to maintain long-term economic growth.
Haryana’s GSDP Growth Over the Years
| Year | At Current Prices (₹ Crore) | At 2011-12 Constant Prices (₹ Crore) |
|---|---|---|
| 2014-15 | 4,37,145 | 3,70,535 |
| 2015-16 | 4,95,504 | 4,13,405 |
| 2016-17 | 5,61,424 | 4,56,709 |
| 2017-18 | 6,38,832 | 4,82,036 |
| 2018-19 | 6,98,940 | 5,32,996 |
| 2019-20 | 7,38,052 | 5,45,124 |
| 2020-21 | 7,29,079 | 4,96,087 |
| 2021-22 | 8,68,905 | 5,44,317 |
| 2022-23 | 9,84,055 | 5,87,198 |
| 2023-24 | 10,95,535 | 6,34,027 |
GSDP Growth Rate (in Percentage)
| Year | At Current Prices | At 2011-12 Constant Prices |
|---|---|---|
| 2014-15 | 6.6 | 7.4 |
| 2015-16 | 11.6 | 8.0 |
| 2016-17 | 10.5 | 8.3 |
| 2017-18 | 5.8 | 6.8 |
| 2018-19 | 10.6 | 6.5 |
| 2019-20 | 2.3 | 3.9 |
| 2020-21 | -9.0 | -5.8 |
| 2021-22 | 9.7 | 9.1 |
| 2022-23 | 7.9 | 7.2 |
| 2023-24 | 8.0 | 7.3 |
With a clear vision for 2047, Haryana is on a growth path, using strategic planning, investment opportunities, and industrial growth to make itself a leading economic hub in India.
