AHMEDABAD: Gujarat has positioned itself as “India’s growth engine” by consistently setting the bar high in macroeconomic indicators, outshining the national average in the last two decades spurred by a stable government and favourable policies, officials said.
With just 6 per cent of India’s landmass and 5 per cent of its population, Gujarat has achieved the distinction of being one of the most industrially developed states, they said ahead of the Vibrant Gujarat Global Summit to be held in Gandhinagar from January 10 to 12.
Projected at the current rates, Gujarat contributed to around 8 per cent of India’s Gross Domestic Product (GDP) in the financial year 2022-23, with a Gross State Domestic Product (GSDP) of Rs 22.61 lakh crore, as per official data.
During an event held recently, Gujarat Chief Secretary Raj Kumar pointed out that the current GSDP stands at Rs 22.61 lakh crore, compared to Rs 91,000 crore in 1997-98, signifying an impressive 11-fold increase.
He said a “stable government and favourable policies have propelled Gujarat’s development”.
Gujarat has become the most preferred investment destination owing to Prime Minister Narendra Modi’s visionary leadership, proactive policy-led approach, investor-friendly attitude, and robust industrial infrastructure, Chief Minister Bhupendra Patel had said at a curtain raiser event for the upcoming Vibrant Gujarat Global Summit.
The state has earned the recognition of being “India’s growth engine”, which has been strongly reinforced by the Vibrant Gujarat Global Summit, a platform for business networking, knowledge sharing, and socio-economic development, he said.
The chief minister emphasised that Gujarat will realise the prime minister’s vision of a ‘Viksit Bharat @2047’ through this summit.
As per official data, the manufacturing sector has played a significant role in Gujarat’s growth, contributing around 36.7 per cent to its GSDP as of FY 2021-22.
The state was consecutively ranked first in India’s industrial output since 2016-17 and second in the number of factories, with 11.6 per cent i.e. 28,479 factories as of 2019-20, the data revealed.
According to the government, the state’s substantial base of more than 13 lakh micro, small and medium enterprises (MSMEs) also makes it stand out.
Gujarat Chamber of Commerce and Industry (GCCI) executive committee member Sachin K Patel said the state’s strong economic fundamentals and industrial prowess have not only elevated its status but have also set a benchmark for the nation.
With just 6 per cent of India’s landmass and 5 per cent of its population, Gujarat has achieved the distinction of being one of the most industrially developed states, they said ahead of the Vibrant Gujarat Global Summit to be held in Gandhinagar from January 10 to 12.
Projected at the current rates, Gujarat contributed to around 8 per cent of India’s Gross Domestic Product (GDP) in the financial year 2022-23, with a Gross State Domestic Product (GSDP) of Rs 22.61 lakh crore, as per official data.
During an event held recently, Gujarat Chief Secretary Raj Kumar pointed out that the current GSDP stands at Rs 22.61 lakh crore, compared to Rs 91,000 crore in 1997-98, signifying an impressive 11-fold increase.
He said a “stable government and favourable policies have propelled Gujarat’s development”.
Gujarat has become the most preferred investment destination owing to Prime Minister Narendra Modi’s visionary leadership, proactive policy-led approach, investor-friendly attitude, and robust industrial infrastructure, Chief Minister Bhupendra Patel had said at a curtain raiser event for the upcoming Vibrant Gujarat Global Summit.
The state has earned the recognition of being “India’s growth engine”, which has been strongly reinforced by the Vibrant Gujarat Global Summit, a platform for business networking, knowledge sharing, and socio-economic development, he said.
The chief minister emphasised that Gujarat will realise the prime minister’s vision of a ‘Viksit Bharat @2047’ through this summit.
As per official data, the manufacturing sector has played a significant role in Gujarat’s growth, contributing around 36.7 per cent to its GSDP as of FY 2021-22.
The state was consecutively ranked first in India’s industrial output since 2016-17 and second in the number of factories, with 11.6 per cent i.e. 28,479 factories as of 2019-20, the data revealed.
According to the government, the state’s substantial base of more than 13 lakh micro, small and medium enterprises (MSMEs) also makes it stand out.
Gujarat Chamber of Commerce and Industry (GCCI) executive committee member Sachin K Patel said the state’s strong economic fundamentals and industrial prowess have not only elevated its status but have also set a benchmark for the nation.
