Gujarat Among Top States To Attract Foreign Direct Investment, Records 84 Per Cent Increase In FDI In One Year

According to an official statement, Gujarat has attracted foreign direct investment (FDI) amounting to Rs 2.39 lakh crore or USD 31 billion from October 2019 to March 2023, positioning it among the top Indian states in terms of FDI inflow, The New Indian Express reported.

The consistent rise in FDI in Gujarat can be attributed to the state government's efforts and the pivotal role played by the Vibrant Gujarat Global Summit (VGGS), according to the release. The biennial VGGS's 10th edition is set to take place in Gandhinagar in January of the upcoming year.

According to the VGGS website, the state experienced an approximately 84 percent increase in FDI in 2022-23 compared to the prior year. This was the most significant rise among all states and Union Territories.

The state government, highlighted by its exceptional infrastructure, connectivity, and skilled workforce, has been striving to enhance Gujarat's business environment under the "Ease of Doing Business" initiative, according to officials.

The state is forging a path towards development, establishing new models of progress and prosperity. This involves the creation of an investor facilitation portal, the online distribution of approvals and licenses, a digitised land bank, and self-certification, according to officials.

In the initial versions of the Vibrant Gujarat summit, there were no partner countries involved. However, by 2019, the grand investment gathering had welcomed the involvement of 15 partner countries, as stated in the press release.