The Gujarat government in India is currently engaged in discussions with semiconductor firms from Japan, South Korea, and the US regarding potential investments in the state, according to the Gujarat Chief Minister Bhupendra Patel in a recent interview with Reuters.
Next week, Gujarat, the home state of Prime Minister Narendra Modi, is set to host its biennial Vibrant Gujarat Global Summit. Ahead of the event, the state has already inked preliminary investment agreements with 58 companies, amounting to a total of $86 billion.
Recently, an official statement came which stated that 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 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.
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.
Nishtha Anushree is Senior Sub-editor at Swarajya. She tweets at @nishthaanushree.
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