Gujarat Has Accounted For 53% Of The Total FDI Investment In India: Principal Secretary Manoj Das
Recently, as per the data released by DPIIT of April- September 2020 of FY 2020-21, Gujarat recorded highest FDI in the country of INR 1.19 lakh crore. The FDI of the State has seen the biggest jump despite several global impact of Covid19. The state has accounted for 53% of the total FDI investment received that of the entire country.
According to Manoj Das, Principal Secretary,Gujarat has taken great strides in developing a resilient, responsive and a vibrant economy over the past two decades. Das highlighted the continuing efforts and conducive policies in Gujarat said, "One of the most progressive states of the country, Gujarat and its transformational model today, is one of the key contributors towards ‘Atmanirbhar Bharat’."
"So, when the PM announced his vision for an ‘Atmanirbhar Bharat’, Gujarat immediately took cues from it and re-engineered its strategy for industrial growth," Das remarked. He further added: "The state since then has increased its investment in technological advancements for higher value addition across the supply chain. Multiple meetings have been held with industry leaders and associations to identify areas and means for indigenous production. These proactive and forward-looking initiatives have supported Gujarat to sustain the No.1 position in attracting investments in the country."
FDI fact Sheet September 20 (DIPP.Gov)
Gujarat’s FDI saw a massive surge of 240% for FY 19-20, which is the highest among any Indian state. This number stands at 14% for the rest of India. Also, as per the Annual Survey of Industries (ASI), Gujarat stood first in India in terms of Industrial Output with ~18% of India’s output. Gujarat contributes over 23% of India’s exports (April – September 2020) and Gujarat’s ports handle over 40% of India’s cargo.
Additionally, Gujarat stands 1st in terms of of IEMs filed & actual investment reported for 2019. Gujarat had ~51% share (1st Rank in India) of IEMs filed in India in terms of value with a proposed investment of USD 49 billion in 2019 as per the data released by DPIIT.
Gujarat recorded a growth of 333% over previous year in proposed investments in 2019. The investments have also been in diversified sectors including textiles, chemicals, auto & auto components, plastics, energy & power, food processing amongst others.
Principal secretary Das pointed out: "What is more astonishing here is that the IEMs were received for setting up units in 28 out of the 33 districts in the state. This symbolizes the state government’s effort for inclusive and balanced regional development. Gujarat received 40% of actual investment in 2019-20 and is set to grow higher in view of higher no. of IEMs being received."
He said Gujarat has the lowest unemployment rate in the entire country at 3.4% as per survey report by Ministry of Statistics & Programme Implementation, Govt. of India.
In this state of the pandemic, Gujarat is not only ready to ground more investment, but is determined to strengthen itself further to catalyze the revival of its industries. As on 8 Dec 2019, Gas Consumption was 7.54 MMSCMD and as on 8 Dec 2020 the gas consumption was 9.45 MMSCMD, which is 25% higher than the previous year. Also, as on 8 Dec 2019, Power consumption was 212 MUs and as on 8 Dec 2020, 235 MUs, which is 11% higher than the previous year.
Das brought out the investment and growth in metal sector. He said Gujarat is set to become the 'Metal Capital of India'. As per ASI 2017-18, Gujarat ranks 1st in the Basic Metal factories in operation (1616 nos.).
Gujarat is inclusive as well as exclusive. Walking the tight-rope of economic progress with great capability, Gujarat is maintaining the perfect balance when it comes to opportunities and investments in various sectors. With upcoming mega investment in the state by Arcelor Mittal, Essar Group & Aditya Birla Group, Guj.
Gujarat’s reform centric government has always protected interest of foreign and domestic investors. Gujarat becomes first state to launch ODPS 2.0 in the country giving permissions in 24 hours in transparent manner to low-rise building construction in the state.
Gujarat is turning into a land of infinite opportunities. The number of businesses is rising and so is the number of jobs created, every year.
Das sets forth the message for investors says, "With a new vision firmly held in sight, the state is perfectly positioned to accelerate India’s growth in the 21st century. It is propelling India to the global stage of becoming a superpower. This is the moment to invest in Gujarat’s future. Join hands with Gujarat and sprint on your growth curve."
