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. The Gross State Domestic Product (GSDP) of Gujarat for 2023-24 (at current prices) is Rs. 25.63 trillion (US$ 309.54 billion), a growth of 13.36% over 2022-23. In 2022-23, Gujarat contributed 8.6% to India’s GDP.
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. Gujarat ranked 1st in Export Preparedness Index 2021. Gujarat recorded US$ 134.40 million worth of exports in 2023-24 as compared to US$ 149.40 million in 2022-23.
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 and pharmaceutical from Gujarat reached US$ 2,487.56 million in April to August 2024.
As of August 2024, Gujarat had a total installed power generation capacity of 54,065.93 MW, comprising 38,404.44 MW under private utilities, 8,454.86 MW (state utilities), and 7,206.66 MW (central utilities).
As of July 2022, Gujarat had 25 SEZs with notified approvals.
In 2022-23, the secondary sector contributed 42.90% to the state’s GSDP (at current prices), followed by tertiary (37.3%) and primary (20.09%) sectors.
According to the DPIIT, FDI inflows in Gujarat stood at US$ 1,020 million in April-June 2024 period.
Following are some of the major initiatives taken by the Government to promote Gujarat as an investment destination:
- In November 2023, the Gem & Jewelry Export Council (GJEPC) the apex body to promote exports of gems and jewelry in India, partnered with the American multinational, FedEx Corporation.
- In November 2023, the Chief Minister inaugurated the state-wide ‘Ravi Krishi Mahotsav 2023, which aims to offer guidance to the state’s farmers on modern agricultural technology concerning seasonal crops and provide insights into various farmer-oriented support schemes.
- In November 2023, Chief Minister Mr. Bhupendra Patel approved the Full Dealer Owned Dealer Operated-(FDODO) CNG scheme which would be implemented by Gujarat Gas Limited and Sabarmati Gas Limited.
- In October 2023, IT SEZ with an investment of Rs. 8,000 crore (US$ 960.37 million) might come up in the city.
- In October 2023, a MoU was signed between the Indian National Space Promotion and Authorization Center (IN-SPACe) and the Government of Gujarat, for the development of a space manufacturing cluster in the city near Ahmedabad.
- In October 2023, the Gujarat government set up a development authority for the Becharaji region. The Mehsana district collector has been appointed chairperson of the authority.
- In October 2023, the Petronet LNG board approved the setting up of a petrochemical plant in Dahej, Gujarat with an estimated cost of Rs. 20,685 crore (US$ 2.48 billion).
- In September 2023, the Gujarat Maritime Board (GMB) revived plans to build ‘Port City,’ an ambitious project conceptualized on the lines of established global maritime hubs like Dubai and Singapore.
- In August 2023, 36 railway projects worth Rs. 30,789 crore (US$ 3.69 billion) were underway in Gujarat.
- During the fiscal year 2023-24 (April-September), aircraft movement was 50,394, passenger traffic was 6.85 million, and cargo traffic was 52,847 million tonnes.
- In July 2023, 15 companies signed MoUs worth Rs. 2,000 crore (US$ 240.09 million), for investments in the biotech sector.
- In July 2023, an MoU has been signed between the State and Central government at Surat for the construction of PM MITRA Park on 1,141 acres at Vansi Borsi in Navsari, Gujarat.
- According to the Telecom Regulatory Authority of India (TRAI), Gujarat had 65.27 million wireless connections and 1.21 million wireline subscribers as of March 2023. As of March 2023, the state had 52.54 million internet subscribers.
- In June 2023, Google to set up Global FinTech Operations Center in Gujarat's Gift City.
- In June 2023, Mr. Nitin Gadkari dedicates two National Highway projects worth US$ 5.85 million in Vadodara, Gujarat.
- In June 2023, Union Home Minister and Minister of Cooperation, Mr. Amit Shah inaugurated the National Convention of Modi Samaj in Ahmedabad, Gujarat.
- In May 2023, Union Home Minister and Minister of Cooperation Mr. Amit Shah laid the foundation stone of the permanent campus of National Academy of Coastal Policing (NACP) at Dwarka, Gujarat, to be built at a cost of US$ 57.32 million.
- In April 2023, Mr. Sarbananda Sonowal approved the establishment of an oil jetty at Kandla's Deendayal Port for US$ 15.05 million.
- In April 2023, Gujarat Fluorochemicals announced to invest US$ 609.86 million in EV batteries, solar and green hydrogen supply chain.
- In March 2023, Anupam Rasayan to set up three new plants in Gujarat with US$ 81.72 million investment.
- In February 2023, the Gujarat government signed 18 memorandum of understanding (MoU) worth US$ 1.20 billion under the state government's 'Aatmanirbhar Gujarat Schemes for Assistance to Industries'. It is expected to generate 10,851 employment opportunities.
- In February 2023, Mr. Parshottam Rupala launched Sagar Parikrama Phase-III from Gujarat's Hazira Port.
- In February 2023, 16 Bharat Gaurav circuits were constructed, and this Garvi Gujarat Yatra is the 17th circuit on the lines of the Government of India's "Ek Bharat Shrestha Bharat" initiative to highlight the legacy of vibrant Gujarat.
- The World Bank has loaned (Rs. 4,200 crore) for the ‘SRESTHA Gujarat’, a multi-dimensional health-oriented plan that would be implemented in the upcoming 5 years.
- In November 2022, a wind turbine taller than the world's tallest Statue of Unity with blades spanning wider than the wingspan of a jumbo jet has been installed at Mundra in Gujarat by Adani New Industries Ltd.
- In October 2022, Ms. Droupadi Murmu, laid the foundation stone of four important Projects worth more than US$ 34.15 million of Deendayal Port Authority, Kandla at Gujarat.
- In October 2022, Prime Minister, Mr. Narendra Modi launched Mission Schools of Excellence at Trimandir, Adalaj, Gujarat. The Mission has been conceived with a total outlay of US$ 1.21 billion.
- In October 2022, PM lauds people of Gujarat for their enthusiasm for 100% completion of Jal Jeevan Mission in the state.
- In October 2022, PM Mr. Modi declares Modhera as India's first 24x7 solar powered village.
- 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.
- As of July 2022, Gujarat had 25 SEZs with notified approvals.
- 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).
- As of March 2019, 79 Agricultural Produce Market Committees (APMCs) were linked with the National Agriculture Market (eNAM).
- As per Indian Ports Association data published in June 2020, the number of ports in the state stands at 46.
MMTPA - Million Metric Tonnes Per Annum