States
Gujarat Among Top States To Attract Foreign Direct Investment, Records 84 Per Cent Increase In FDI In One Year
Alstom's factory in Savli, Gujarat (Alstom)
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.
"Gujarat accounted for 30 per cent of the total Industrial Entrepreneur Memorandum or IEMs implemented (Rs 1.04 lakh crore) in 2021, which was also the highest among all the states and UTs," the website said.
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.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
