Gandhinagar: While industrial development is considered to be the benchmark of financial prosperity, it is important to understand its relation with the social sphere. Financial stability leads to social stability as people are able to have access to better facilities and a better standard of living. At the same time, it increases the purchasing power of the population too.

Today, as India takes rapid strides in industrial and financial development, Gujarat continues to be a major contributor to India’s growth for over two decades. The state has created new benchmarks and redefined development owing to its visionary and transparent administration and fast-paced governance.

When Narendra Modi took over as the Chief Minister, two decades ago, there were a number of challenges, in every sphere. However, he converted every adversity into opportunity and started Gujarat’s growth journey. When Kutch was hit with an earthquake, the district was reduced to a rubble. Within 3 years, the district became Gujarat’s centre of industrial development. Such were the efforts of the administration.

‘Vibrant Gujarat’- A pillar of Gujarat’s financial progress

Narendra Modi started the ‘Vibrant Gujarat Global Business Summit’ from 2003 to change the momentum and give direction to Gujarat’s economic and industrial development. Today, this summit is popular across the globe to invest in a range of businesses in Gujarat.

The summit has attracted investments worth lakhs of crore in Gujarat. This gave a boost the state on two fronts: one on the industrial front and the other in generating employment for its youth.

Today, Gujarat has the second highest number of factories in India after Tamil Nadu. Over 16 lakh people are employed in 28,479 factories in Gujarat. If we look at investment from 2003 to August 2022, Gujarat has received a cumulative FDI worth USD51.19 billion. The successive editions of the summit have only boosted Gujarat’s image as an industrial friendly state. At the same time, the summit has been instrumental in showcasing the globe that Gujarat’s administration has a holistic approach to development. The administration, since 2003, has not only strengthened state’s industrial sector but also ensured a safe and secure environment for its citizens, initiated global level tourism festivals, ensured prosperity of farmers, and above all, strengthened its education sector, at all levels.

Re-defining development through a ‘Policy-Driven State’

In the last twenty years, Gujarat has created a unique identity for itself through its inclusive, progressive and visionary policies. Today, the state is a touchstone of development in India owing to the efforts of the then Chief Minister Narendra Modi. Successive leaders in Gujarat have followed his path and continued the legacy. Recently, the Bhupendra Patel administration launched a number of policies such as the Sports Policy, New IT/ITes Policy, The Gujarat Semiconductor Policy, The Gujarat Drone Promotion and Usage Policy, New Cinematic Tourism Policy, Student Startup and Innovation Policy 2.0 and EV Policy with a view to boost employment for its youth in changing times.

Benefits of a ‘Double Engine Government’

Gujarat’s development engine got an added thrust when Narendra Modi became the Prime Minister of India. As the Chief Minister, he was well aware of the challenges faced by Gujarat in getting approvals and permissions from the Centre. As soon as he became the Prime Minister, he cleared long pending decisions that were withheld by the previous governments at the Centre.

Today, Gujarat is accelerating on the path of development due to the ‘Double Engine Government’. As a result, Gujarat has become India’s most industrialized state. Gujarat was leading India with an industrial production of 18.4% for 2019-2020. If we look at the projects being implemented in Gujarat, there were a total of 1556 projects implemented from 2014 to 2022. This is 25% of the total projects in India (6247).

If we look at investments, Gujarat has received 57% of the total investments received in India from 2014 to 2022. India received investments worth ₹31.3 lakh crore. Out of this, Gujarat received ₹17.7 lakh crore. Gujarat is also leading in Government of India’s ASI Survey Report 2022. According to this report, fixed capital in Gujarat has increased from 14.96% in 2012-23 to 20.59% in 2019-20 (i.e ₹7.48 lakh crore). This is the highest in India.

Similarly, Gujarat is in the list of Top Achievers in the BRAP 2020 report by the Government of India. According to this report, Gujarat has climbed 8 positions and is at the second position in India with more than 90% in the Feedback category. Gujarat is also one of those states which has ensured 100% implementation of the 301 reforms of DPIIT. It is because of this that Gujarat has been amongst the Top Achieving States in Ease of Doing Business Rankings.

Further, Gujarat is also leading in the Good Governance Index of the Government of India. At the same time, the state has been ranked as the Top Performing State in the States’ Startup Ranking for three consecutive years i.e 2019,2020 and 2021. In addition to that, Gujarat is at the number one position in the LEADS Index too.

Gujarat is also at the topmost position in State Energy and Climate Index 2022, Export Preparedness Index 2021, Logistics Ease Across Different States Report 2021, Sustainable Development Goal India Index 2021 and Composite Water Management Index 2019. All these awards are a testament to the benefits received by Gujarat due to the ‘Double Engine Government’.

Gujarat leads in realising the vision of ‘Aatmanirbhar Bharat’

It is Prime Minister Narendra Modi’s dream to create an ‘Aatmanirbhar Bharat’. The Prime Minister is a firm believer of the fact that India, given its resources, strength and abilities, is capable of fulfilling not only its own requirements but that of the world.

The industrial development and achievements of the last few years are a testament to the fact that Gujarat is emerging as a leading contributor in realising the mission of ‘Aatmanirbhar Bharat’. For example: Gujarat has received the highest FDI from 2018 to 2020. Gujarat is also leading in exports. If we look at numbers, including FY 2022, we find that Gujarat has exported worth ₹8.37 lakh crore. It is twice the amount in FY2021 (₹4.48 lakh crore).

Gujarat has also maintained a steady growth rate of 8.2% for the last ten years and contributed nearly 8.4% to the national GDP. Gujarat is also the state with the lowest fiscal deficit and lowest public debt in the country, which shows that Gujarat ensures judicious utilization of its finances.

Apart from these, Gujarat has futuristic and world class infrastructure like GIFT City, Dholera SIR, Mandal-Bechraji SIR, PCPIR, various manufacturing plants in Sanad, logistics parks, Delhi-Mumbai Industrial Corridor, Mumbai-Ahmedabad High Speed Rail, investment in petrochemicals, diamond research and mercantile city. These will only accelerate the creation of an Aatmanirbhar Gujarat and ultimately Aatmanirbhar Bharat.

DeshGujarat