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Kerala is a state situated in the south-western region of India. It is known for its beautiful beaches, backwaters, and tropical evergreen forests. It has a strong economy, with a wide range of industries and sectors contributing to its growth.
The economy of Kerala is the 9th largest in India, with an annual gross state product (GSP) of ₹9.78 lakh crore (US$131.98 billion) in 2020–2021.[1] Per-capita GSP of Kerala during the same period is ₹205,484 (US$2,773.08), the sixth largest in India.
Kerala's economy is mainly supported by the services sector, which accounts for almost 65% of its GDP. The main industries in Kerala are tourism, information technology, healthcare, banking and finance, rubber, textiles, and cashew. Tourism is the main industry in Kerala, with over 3.8 million domestic tourists visiting the state annually. It is known for its stunning beaches, natural beauty, cultural diversity, and rich heritage. Tourism contributes significantly to the state's economy, and provides employment to many people.
Information technology is another important sector in Kerala. It has been growing rapidly over the past few years, and is now one of the leading states in India in terms of IT. Many IT companies have set up their offices and research centers in the state, which has improved the quality of life of many people.
The healthcare sector in Kerala is also growing rapidly. The state has some of the best hospitals and medical colleges in India, which offer quality healthcare services to the people. The healthcare industry in Kerala is expected to grow in the coming years, as more and more people are choosing to get medical treatment here.
Kerala also has a strong banking and finance sector. The state has one of the highest GDP per capita in India. Banks and financial institutions in the state provide employment to many people, and also offer financial assistance to those in need.
Rubber, textiles and cashew are the other important industries in Kerala. The state is one of the largest producers of natural rubber in India, and it also has a large number of textile mills. Cashew is also an important industry in Kerala, and it is one of the major sources of income for many people.
Kerala has a strong economy with many industries and sectors contributing to its growth. The state has some of the best hospitals and medical colleges in India, and it also has a strong banking and finance sector. Tourism, IT, healthcare, rubber, textiles, and cashew are some of the major industries in the state. All these industries have helped in the growth of the economy in Kerala and have improved the quality of life of many people.
In conclusion, Kerala is one of the most prosperous states in India, and its economy is supported by a wide range of industries and sectors. Tourism, IT, healthcare, banking and finance, rubber, textiles, and cashew are some of the main industries in the state, which have helped in the growth of the economy and improved the quality of life of many people.
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