Gujarat's annual growth rate is 15%, higher than national average: CM Bhupendra Patel

He was speaking at a state government roadshow in Mumbai to promote the 10th edition of the Vibrant Gujarat Global Summit (VGGS), which will be held from January 10-12 next year.
Gujarat CM Bhupendra Patel with Mukesh Ambani (Photo | Gujarat Information Department)
Gujarat CM Bhupendra Patel with Mukesh Ambani (Photo | Gujarat Information Department)

AHMEDABAD: Gujarat's economy has grown at a 15% annual rate, which is higher than the national average, said Chief Minister Bhupendra Patel on Wednesday during a state government roadshow in Mumbai to promote the 10th edition of the Vibrant Gujarat Global Summit (VGGS), which will be held from January 10-12 next year.

“VGGS has increased Gujarat's GSDP from Rs. 1.42 lakh crore in 2003 to Rs. 22.61 lakh crore in 2023. Furthermore, Gujarat's economy has expanded at a cumulative annual growth rate of 15%, which is higher than the national average,” he said.

“The summit has effectively brought together global investors and thought leaders on a single platform. Under the Prime Minister's visionary leadership, this conference has evolved into a global platform for business networking and strategic partnership for socio-economic growth,” he added.

The CM also said the Mumbai-Ahmedabad bullet train project will help improve the partnership between Gujarat and Mumbai at the social level.

“38 percent of the Delhi-Mumbai Industrial Corridor passes through Gujarat. Additionally, work is underway on the high-speed Mumbai-Ahmedabad rail corridor for the bullet train. These pivotal projects will benefit the logistics sector and economic activities of Gujarat and Mumbai,” he said.

The Chief Minister remarked that Gujarat's forthcoming wave of economic growth will be driven by forward-looking industrial infrastructure projects such as GIFT City, DREAM City, the Hybrid Solar and Wind Renewable Energy Park and Dholera SIR.

The CM emphasized that while Mumbai and Gujarat are renowned for the diamond trade, Surat serves as the central hub for polished diamonds, houses numerous diamond-cutting units and plays a significant role in the lab-grown diamond industry.

“We will actively embody the theme "Gateway to the Future" by organizing seminars and events dedicated to emerging sectors in the forthcoming Vibrant Summit," the Chief Minister added.

Notably, Gujarat alone contributes to 80 percent of the nation's diamond exports.

During his address at the event, Chief Secretary Raj Kumar said Gujarat has become the best choice of investment for foreign investors, due to proactive policy-making, a conducive business environment and an investor-friendly approach.

Around 35 diplomats and more than 350 leaders from business and industry sectors participated in the Mumbai roadshow.

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