AHMEDABAD: During a state government road show in Mumbai to promote the 10th edition of the Vibrant Gujarat Global Summit (VGGS), Gujarat CM Bhupendrabhai Patel announced on Wednesday that Gujarat’s economy has achieved an annual growth rate of 15 per cent, surpassing the national average.
He emphasised the profound impact of the VGGS on Gujarat’s economic landscape, highlighting that the summit has played a pivotal role in elevating Gujarat’s Gross State Domestic Product (GSDP) from Rs 1.42 lakh crore in 2003 to Rs 22.61 lakh crore in 2023.
Chief Minister Bhupendrabhai Patel attributed this growth to the VGGS, which he described as a unique platform for uniting global investors and thought leaders. The CM claimed that the summit has evolved into a global hub for business networking and strategic partnerships aimed at fostering socio-economic development under the leadership of PM Narendra Modi.
In addition to these accomplishments, the Chief Minister also lauded the Mumbai-Ahmedabad bullet train project, highlighting its potential to strengthen the social ties between Gujarat and Mumbai. A significant portion of the Delhi-Mumbai Industrial Corridor, approximately 38%, passes through Gujarat, further enhancing its economic significance. Moreover, progress is underway on the high-speed Mumbai-Ahmedabad rail corridor, a crucial initiative that promises to bolster the logistics sector and economic activities in both Gujarat and Mumbai.
Bhupendrabhai Patel emphasised the upcoming wave of economic growth in Gujarat, driven by forward-looking industrial infrastructure projects like GIFT City, DREAM City, the Hybrid Solar and Wind Renewable Energy Park, and Dholera SIR. Gujarat’s prominence in the diamond trade was also acknowledged, with Surat being recognised as the central hub for polished diamonds and playing a significant role in the lab-grown diamond industry. The Chief Minister announced plans to organise seminars and events dedicated to emerging sectors under the theme “Gateway to the Future” at the forthcoming Vibrant Summit.
Notably, Gujarat is responsible for 80 per cent of the nation’s diamond exports, underscoring its influence in this industry. The Mumbai road show saw participation from around 35 diplomats and over 350 leaders from various business and industry sectors.
Economic growth
CM Bhupendrabhai Patel emphasised the profound impact of the Vibrant Gujarat Global Summit (VGGS) on the state’s economic landscape, highlighting that the summit has played a pivotal role in elevating Gujarat’s Gross State Domestic Product (GSDP) from Rs 1.42 lakh crore in 2003 to Rs 22.61 lakh crore in 202.