Gujarat Economic Ascent: A $1 Trillion Target by 2030

AHMEDABAD (India CSR): Bhupendrabhai Patel, Chief Minister of Gujarat while addressing the FICCI’s National Executive Committee Meeting (NECM) emphasized that Gujarat is recognised as the growth engine of India and the world. “Under the leadership of Hon’ble Prime Minister Narendra Modi and by adopting the mantra of Atmanirbharta, India has become the 5th largest economy in the world. The state of Gujarat and Gujaratis are moving ahead under his inspiration to establish Gujarat model,” added the Chief Minister.

Gujarat: India’s Growth Engine

The Chief Minister highlighted that Gujarat has become synonymous with progress, with its pivotal role in India’s advancement towards becoming the world’s 5th largest economy. He attributed this success to the guiding light of Prime Minister Narendra Modi and the adoption of the Atmanirbharta initiative.

Gujarat’s Contribution to India’s Economy

Patel proudly pointed out that while Gujarat covers only 6% of India’s area, its contribution to GDP, industrial output, and exports stands at 8%, 18%, and 30% respectively.

Two Decades of Progress

A significant increase in the state’s GSDP was noted, from Rs 1.27 lakh crore to Rs 16.19 lakh crore over the past 20 years. Patel also emphasized Gujarat’s commitment to sustainability and addressing climate change.

Gujarat’s Pro-Business Stance

The Chief Minister confirmed the government’s unwavering support to industries, ensuring a seamless business experience in the state. Patel also acknowledged FICCI’s pivotal role in Gujarat’s developmental journey, especially during the Vibrant Gujarat Summit.

Gujarat’s Ambitious Economic Goal

Echoing the nation’s aim for a $5 trillion economy, Patel asserted Gujarat’s target to reach a $1 trillion economy by 2030.

Gujarat: The Preferred Destination for Global Corporations

Subhrakant Panda, FICCI’s President, highlighted Gujarat’s impressive track record of hosting over 100 Fortune 500 companies, its significant growth rate, and its pivotal role in India’s export sector. He praised the state’s consistent efforts in fostering a business-friendly environment.

Collaborative Efforts for a Brighter Future

Elaborating on FICCI’s partnership with the Gujarat government, Panda discussed various sectoral collaborations. Additionally, Harsha Vardhan Agarwal and Rajiv Gandhi praised Gujarat’s infrastructural and sustainability initiatives, positioning it at the forefront of India’s growth narrative.

The Vision of a $5 Trillion Economy

S K Pathak discussed the national perspective and the significance of the states in realizing Prime Minister Narendra Modi’s vision. He also revisited historical moments like Mahatma Gandhi’s speech at FICCI’s 4th AGM.

The Promise of ‘PM Gati Shakti’

In a dedicated session, Sumita Dawra highlighted the transformative potential of the ‘PM Gati Shakti’ initiative, emphasizing infrastructure’s role as a cornerstone for India’s projected $32 trillion economy by 2047.

Kutch: A Maritime Powerhouse

Concluding the event, Subrat Tripathy of Adani Ports spotlighted Kutch district’s monumental contribution to India’s maritime trade, accounting for 26% of the nation’s cargo.

Gujarat’s Renewable Energy Initiatives

Drawing attention to Gujarat’s sustainability efforts, Chief Minister Patel elaborated on the state’s green energy initiatives. He emphasized the state’s commitment to renewable energy, its new energy policy, and the strides made in establishing Gujarat as a leader in sustainable energy sources.

Facilitating the Growth of MSMEs

Panda also highlighted the vibrancy of the Micro, Small, and Medium Enterprises (MSMEs) sector in Gujarat. With 13 lakh MSMEs operating in the state, Gujarat has emerged as an MSME hub, fostering innovation, employment, and economic growth.

FICCI and Gujarat’s Synergic Partnership

Harsha Vardhan Agarwal touched upon the longstanding partnership between FICCI and the Gujarat government. Their joint efforts, he stated, have been instrumental in not just realizing the economic aspirations of the state but also in setting higher benchmarks for growth and development.

Embracing Technological Advancements

The discussions at the NECM also revolved around the technological advancements in Gujarat. Leaders spoke of the digital infrastructure in place and the state’s initiatives to integrate advanced technologies in governance, industry, and public services.

Tourism and Cultural Promotion

The Chief Minister also underscored the significance of tourism for Gujarat’s economy. He mentioned the efforts to promote the state’s rich cultural heritage, archaeological sites, and vibrant festivals to attract both national and international tourists.

Future Roadmap: Collaboration for Sustainable Growth

The NECM concluded with an action-oriented discussion on the way forward. Leaders from various sectors expressed their commitment to work collaboratively to achieve the shared vision of sustainable and inclusive growth for both Gujarat and the nation at large.

(India CSR)