Gujarat is located on the western coast of India and has the longest coastline of 1,600 kms in the country. Gujarat is one of the high growth states in the country.

Gujarat is one of the leading industrialised states in India. At current prices, Gujarat’s Gross State Domestic Product (GSDP) is estimated at Rs. 22,03,062 crore (US$ 288.73 billion) in FY23, an increase of 13.3% YoY.

There are 13 major industry groups that together account for around 82.05% of total factories, 95.85% of total fixed capital investment, 90.09% of the value of output and 93.21% of value addition in Gujarat's industrial economy. Total exports from the state stood at US$ 65,248.53 million in FY 2022-23 (until August 2022).

Gujarat is a leader in industrial sectors such as chemicals, petrochemicals, dairy, drugs and pharmaceuticals, cement and ceramics, gems and jewellery, textiles and engineering. The industrial sector comprises of over 800 large industries and 453,339 micro, small and medium enterprises.

Gujarat has over 3,300 pharmaceutical manufacturing units, which contributed 30-35% to India’s pharma sector’s turnover and around 28% to India’s pharma export during 2018-19. Gujarat has over 3,300 pharmaceutical manufacturing units, which contributed 30-35% to India’s pharma sector’s turnover and around 28% to India’s pharma export during 2018-19. Export of drug formulations from Gujarat reached US$ 2,824.55 million in FY22

In 2019-20, the state produced 4.6 million tonnes of petroleum (crude) and 1,287 million cubic metres of natural gas. Total consumption of petroleum products stood at 22.53 million metric tonnes (MMT) in 2019-20. Petroleum product exports from Gujarat stood at US$ 36,842.98 million in FY22.

As of August 31, 2022, Gujarat had a total installed power generation capacity of 44,930.44 MW, comprising 29,204.20 MW under private utilities, 8,452.61 MW (state utilities) and 7,273.63 MW (central utilities).

As of July 2022, Gujarat had 25 SEZs with notified approvals.

According to the DPIIT, FDI inflows in Gujarat stood at US$ 3,200 million in FY 2022-23 (until June 2022) and were US$ 30,386.82 million between October 2019-June 2022.

Following are some of the major initiatives taken by the Government to promote Gujarat as an investment destination:

• In June 2022, Prime Minister Mr. Narendra Modi inaugurated and laid foundation stone of development projects worth Rs. 21,000 crore (US$ 2.63 billion) at Gujarat Gaurav Abhiyan at Vadodara.
• In July 2022, the government approved the construction of Taranga Hill-Ambaji-Abu Road new rail line to provide connectivity and improve mobility.
• In July 2022, Deendayal Port Authority (DPA) announced plans to develop two Mega Cargo Handling Terminals on a Build-Operate-Transfer (BOT) basis under Public-Private Partnership (PPP) Mode at an estimated cost of Rs. 5,963 crore (US$ 747.64 million).
• Under the State Budget 2022-23:
  • Rs. 3,822 crore (US$ 479.38 million) has been allocated to urban development authorities under Swarnim Jayanti Mukhymantri Shehari Vikas Yojana.
  • Rs. 1,079 crore (US$ 135.33 million) has been allocated towards Samagra Shiksha Abhiyan
• In August 2021, the state department of civil aviation announced its partnership with Aero Freyr Inc. (a Gujarat-based aircraft manufacturer) to establish an aircraft manufacturing unit with MRO (maintenance, repair and operations) and flight testing operations. The state department of civil aviation also invested Rs. 150 crore (US$ 20.22 million) to commence manufacturing of 2-seater and 4-serater aircraft and air ambulances.
• In June 2021, the Gujarat government introduced the electric vehicles (EV) policy with the aim to roll out 200,000 EVs over the next four years.
• As per Indian Ports Association data published in June 2020, the number of ports in the state stands at 46. In 2020-21, Deendayal (Kandla) port handled 117.56 million tonnes of cargo traffic.
• Government of Gujarat has initiated several steps for the development of a world-class port city at Mundra. The port has a cargo handling capacity of over 200 million tonnes per annum.
• In August 2021, MG Motor announced to invest Rs. 2,500 crore (US$ 337.07 million) to increase the automotive production capacity in Gujarat.
• In July 2021, ESR India announced its expansion plan in Gujarat; intends to invest ~Rs. 300 crore (US$ 40.45 million) to develop an industrial and logistics park in the state.
• To meet the rising demand for containers, in May 2021, the government announced to establish pilot projects for containers. It aims to receive an estimated potential investment of Rs. 1,000 crore (US$ 137.91 million) from private players.
• In May 2021, Borosil Renewables announced a plan to expand its manufacturing unit in Gujarat at an investment of Rs. 500 crore (US$ 68.96 million), with an aim to double its capacity to 900 tonnes per day or 5GW of installed capacity at its solar power plants.
• In April 2021, Coal India Limited (CIL) signed a PPA (Power Purchase Agreement) with Gujarat Urja Vikas Nigam Ltd (GUVNL) for the sale of 100 MW solar power to the company for 25 years.
• In April 2021, Singapore Stock Exchange (SGX) announced to establish its offshore office at GIFT City.

MMTPA - Million Metric Tonnes Per Annum