Gujarat, one of the fastest growing states in India during 2013-17 ranked #4 in Ease of Doing Business (EoDB) by World Bank in 2017. The state also occupied the topmost position in National Council of Applied Economic Research’s State Investment Potential Index (N-SIPI) in both its editions in 2016 and 2017. Gujarat offers best-in-class infrastructure in the form of 42 ports and 17 airports, directly connecting it to major cities and trading centres of the world. There are 19 operational Special Economic Zones (SEZ), 8 notified Special Investment Regions (SIR) and 182 Industrial Estates in Gujarat. Delhi Mumbai Industrial Corridor (DMIC) provides further impetus for industrial growth in Gujarat as 38% of the corridor lies in the state.
Gujarat International Financial Tec-City (GIFT City) in Ahmedabad is the country’s first international financial services centre (IFSC) that caters to customers outside the jurisdiction of the domestic economy. Currently, 11 domestic banks including State Bank of India and ICICI Bank have started their operations at GIFT City, with 3-4 foreign banks in the fray to open their shops.
Gujarat is not only among the pioneers of India’s growth story but also a leader in various sectors including petrochemicals, textiles, pharmaceuticals, automobiles, and gems and jewellery, among others. The state, blessed with abundant natural resources, contributes 62% and 18% to India’s petrochemicals production and exports, respectively. It is also India’s largest producer and exporter of cotton.
Key upcoming projects:
New airports proposed at 11 sites, including Greenfield airports being built in industrial areas like Ankleshwar and religious tourism destinations like Dwarka
Sabarmati riverfront development on eastern and western sides of Sabarmati river in Ahmedabad
Dholera Special Investment Region (SIR), with world-class infrastructure, close connectivity to major ports and logistics support of Dedicated Freight Corridor
Aviation Park, developed by GUJSAIL, with facilities such as an airstrip, a training school, a helipad and a space for setting up small manufacturing units
Smart Cities Mission, for which Gandhinagar, Ahmedabad, Surat, Vadodara, Rajkot and Dahod are the cities identified in Gujarat
Key upcoming industrial corridor:
DMIC, with 5 industrial nodes lying in Gujarat, has about 62% of the project influence area in the state