Gujarat to emerge as $1 trillion economy by 2030, to play key role in achieving $5 trillion economy: CM Patel

Ahmedabad (Gujarat) [India], October 5 (ANI): Chief Minister of Gujarat Bhupendrabhai Patel today while addressing the Federation of Indian Chambers of Commerce and Industry’s (FICCI) National Executive Committee Meeting (NECM) emphasized that Gujarat is recognised as the growth engine of India and the world.

The Chief Minister also said that Gujarat is determined to play a major role in making the country a $5 trillion economy and added that the state aims to become a $1 trillion economy by 2030.

CM Bhupendrabhai Patel said, “Under the leadership of Prime Minister Narendra Modi and by adopting the mantra of Atmanirbharta, India has become the 5th largest economy in the world. The state of Gujarat and Gujaratis are moving ahead under his inspiration to establish the Gujarat model.”

The Chief Minister further stated that Gujarat accounts for 6 per cent of India’s geographical area but contributes 8 per cent to the GDP; 18 per cent to industrial output, and 30 per cent share of exports.

He said the state’s GSDP has grown from Rs 1.27 lakh crore to Rs 16.19 lakh crore in two decades. He also highlighted that the state government is committed to renewable energy and the conservation of the environment to tackle the challenges of climate change.

CM Patel reiterated the state government’s support to industry and stated that the government is committed to ensuring that businesses in the state do not face any problems. He lauded FICCI for its key role in the success of the Vibrant Gujarat Summit and in making Gujarat a growth engine.

Subhrakant Panda, President, of FICCI, and Managing Director, Indian Metals and Ferro Alloys Limited (IMFA), said, “Gujarat is home to 100+ Fortune 500 companies and 13 lakh MSMEs and has grown at a CAGR of 15 per cent over the last two decades. It contributes one-third of India’s exports, accounts for 15.5 per cent of RE capacity, and has the lowest unemployment rate among large states. Known for its industry-friendly approach and facilitative business environment, Gujarat has transformed by continually enhancing ease of business.”

Subhrakant Panda said that FICCI was working closely with the Gujarat government across a range of sectors including startups, energy, defence, education and skill development, and tourism.

“We are committed to facilitating the government’s agenda in sectors such as EVs and component ecosystem, Green Hydrogen and derivatives, and Renewable Energy which remains a key focus,” Panda added.

Harsha Vardhan Agarwal, Vice President, FICCI and VC and MD of Emami Limited, lauded Gujarat for constantly raising the bar of its ambition and scale.

“The phase of infrastructure development in Gujarat is getting tremendous push and the investment-friendly environment along with ease of doing business are among the best in the country. The State’s new Renewable Energy policy and its commitment to the environment and sustainability are commendable,” he added.

Rajiv Gandhi, Chair, FICCI Gujarat State Council and CEO and MD of Hester Biosciences, said “FICCI has always been at the forefront of catalysing change and promoting an environment that nurtures the growth and prosperity of our nation. Our collective aim is to bridge the gap between policy and practice. This meeting serves as a platform to deliberate on the achievement of the path and to envision the path for the future. Together let us shape the narrative for a resurgent India,” he added.

S K Pathak, Secretary General, FICCI said that states across India will play an important role in realising the vision of Prime Minister Narendra Modi’s vision of a $5 trillion economy. He said, “This is why our National Executive Committee Meetings are taking place at various locations across the country.”

He also described Mahatma Gandhi’s role in FICCI formation and his chief guest speech at the 4th AGM in April 1931.

Addressing a session on ‘PM Gati Shakti’, Sumita Dawra, Special Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, said that PM Gati Shakti has ushered in efficiencies and seamless integration in project conceptualization, planning and execution. “Infrastructure will be a critical growth driver in India’s journey to become a $32 trillion economy by 2047. We are seeing a historic push from the government for infrastructure development, which encompasses not just railways and roads but also ports, power, telecom, etc. The PM Gati Shakti can be a tool for global infrastructure development planning,” she added.

Subrat Tripathy, CEO of Adani Ports, shed light on Kutch’s role in India’s maritime trade noting that the district accounts for 26 per cent of the country’s cargo.