Gujarat Aims for $1 Trillion Economy by 2030, Says CM Bhupendra Patel

Speaking at the state Annual Session of the Confederation of Indian Industry (CII) and a conference on 'Gujarat @$1 Trillion Economy' in Ahmedabad, Patel said the state is progressing on the development path envisioned by Prime Minister Narendra Modi.

"By following the development path envisioned by the Prime Minister, Gujarat is poised to become a $1 trillion economy by 2030. To achieve this target, the State Government is committed to providing all necessary support in partnership with industrialists," he said.

Recalling earlier phases of industrial growth, Patel said development in Gujarat had once been limited to the Vapi-Vadodara belt.

"There was a time when development in Gujarat was limited only to the Vapi-Vadodara belt. However, with the vision of inclusive development for the entire state, essential infrastructure such as water and electricity was strengthened," he said.

He added that the Vibrant Gujarat Summit, initiated in 2003, had played a role in attracting global investment, making the state a preferred destination for investors.

Highlighting recent developments, he referred to investments by Micron Technology as an example of growing global confidence.

"Strong global trust in the Prime Minister's leadership has brought advanced industries like semiconductors to India, especially Gujarat. What once seemed impossible is now becoming a reality in the state," Patel said.

The Chief Minister outlined key economic indicators, stating that Gujarat contributes around 8 per cent to India's GDP despite having about 5 per cent of the country's population, with a target to increase this share beyond 10 per cent.

He said the state accounts for 17 per cent of the country's manufacturing output and contributes 33 per cent to total exports, while handling 40 per cent of the nation's cargo.

He also cited sector-specific contributions, stating that Gujarat holds a 33 per cent share in the chemical industry, contributes 19.2 per cent to pharmaceutical exports, and accounts for 80 per cent of diamond exports.

The number of micro, small and medium enterprises (MSMEs) has increased from 1.85 lakh in 2001-02 to 27.9 lakh at present, he added.

Describing Gujarat as a "policy-driven state", Patel said clear policies have been formulated to ensure transparency for industrialists at every stage.

"Necessary changes are made in line with evolving needs," he said, adding that the state has prepared a road map aligned with the goal of a 'developed India by 2047' and has begun implementing it.

- IANS