Gandhinagar, Feb 11
In a move to establish Gujarat as a global hub for Global Capability Centers (GCCs), Chief Minister Bhupendra Patel launched the 'Gujarat GCC Policy 2025-30' from GIFT City.
The policy aims to boost innovation, digital transformation, and economic growth.
With a target of 250 new GCC units, the policy is expected to attract over Rs 10,000 crore investments and generate more than 50,000 high-value jobs.
It focuses on enhancing infrastructure, strengthening connectivity, and fostering a skilled workforce, making Gujarat an attractive destination for multinational corporations.
Designed by the Department of Science and Technology, the policy provides a range of incentives, including capital (CAPEX) and operating expense (OPEX) support, to encourage businesses to set up their GCCs in Gujarat.
As of the financial year 2023, the state's Gross State Domestic Product (GSDP) stood at approximately Rs 22 trillion, reflecting a steady increase from over Rs 19 trillion in the previous year.
In 2022-23, Gujarat accounted for 33 per cent of India's total exports, leading in sectors such as chemicals, petrochemicals, dairy, pharmaceuticals, cement, ceramics, gems and jewellery, textiles, and engineering. The state also boasts the highest electricity production capacity and maritime port cargo volume among all Indian states.
Looking ahead, Gujarat aims to increase its contribution to India's GDP from 8 per cent to 10 per cent by 2030, as stated by Mona Khandhar, Principal Secretary of the Department of Science and Technology. From September to December 2022, the state achieved its highest recorded employment figure of 26.7 million individuals, marking an increase from 25.9 million during the same months in 2021.
In terms of unemployment, Gujarat has maintained rates lower than the national average. For individuals aged 15 and above, the state's unemployment rate stood at 3.1 per cent, compared to the national average of 6.6 per cent. However, urban areas in Gujarat have experienced fluctuations. In the 2022-23 period, the urban unemployment rate rose to 8.7 per cent, indicating challenges in the labour market during that time.
Encouragingly, the subsequent year saw a significant decline, with the rate dropping to 2.3 per cent, suggesting a positive trend in urban employment.
- IANS