The 1932 Indiana gubernatorial election was held on November 8, 1932, to elect the Governor of Indiana. Democratic nominee Paul V. McNutt defeated Republican nominee Raymond S. Springer, receiving 55.02% of the vote to Springer's 42.75%.
McNutt won by 192,330 votes, a margin of 12.27 percentage points, and the election resulted in a Democratic gain from the Republicans. He took office on January 9, 1933, succeeding Republican governor Harry G. Leslie, and became the first Democratic governor of Indiana since Samuel M. Ralston.
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