Channel: Investment

Friday, July 02, 2010
Gujarat: The Global Business Hub
The Indian economy is growing consistently owing to its strong fundamentals

The Indian economy is growing consistently owing to its strong fundamentals. Among the Indian States, Gujarat has been contributing immensely to India’s growth story with a consistent double digit GSDP growth for almost a decade. With massive strides in agriculture and social sectors, Gujarat has also become a model for inclusive and sustainable development. In addition to its strategic maritime location, Gujarat’s key strengths include excellent infrastructure, stable governance, business-friendly policies and futuristic initiatives. Gujarat has successfully leveraged its strength and has in the recent years emerged as the industrial and corporate face of the country with investors’ interest from all corners of the world.


To provide a focused approach to nurture the investment interest, Gujarat has institutionalized a biennial event – Vibrant Gujarat Global Investor’s Summit from 2003 onwards. Four summits organised in 2003, 2005, 2007 and 2009 have been a resounding success. MoUs for investments worth about USD 243 billion out of a total of USD 433 billion of investment mobilized over the 4 summits were signed alone during the last edition of the event held in 2009. The State is gearing up for the fifth edition of the event. The 5th Global Investors Summit VG – 2011 is scheduled to be held on 12th and 13th January 2011 at Mahatma Mandir, Gandhinagar. The important components of the summit include discussion forums, panel discussions, networking events, seminars and conventions. The summit is aimed to offer excellent opportunities to interact with the policy makers and industry leaders from across the world.


Several large projects are currently under way in Gujarat which could become trailblazers for other states to follow. Government plans to set up world class hubs of economic activity on the lines of developed economies of the world and has therefore, enacted a legal framework for the SIR – The Gujarat Special Investment Region Act 2009.


Government of Gujarat has planned development of 6 industrial nodes along the Delhi- Mumbai Industrial Corridor (DMIC) by 2012 including logistic parks, rail-linked freight terminals, widening of roads, rail links with ports and a new international airport. The Government is seeking private investment and partnership for development of these projects which will entail an aggregate investment of over USD 5.5 billion.


Gujarat has charted out a vision for its future – through the vision document ‘BIG 2020’. BIG 2020 envisages investments of USD 250 billion by 2020 in various sectors like Power, Gas, SIR Dholera, industrial nodes and SEZs within the DMIC, Industrial Parks, Roads, Ports, Railways, Logistic Parks, Airports, Urban infrastructure, Water Supply, IT and Tourism among many others. No wonder then, Gujarat is fast emerging as the global business hub in Asia.


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