New Delhi: Gujarat, widely acknowledged as the most business-friendly state in India, figures among the top five states that account for 69 percent of the country’s total export earnings. It is also among two states, the other being Maharashtra, that together account for more than 46 percent of the merchandise consignments from the country.
Analysts attribute Gujarat’s domination in the export business to a range of factors. These include location advantage in terms of long coastline, cost-effective and efficient transport system, superior infrastructure ensuring seamless connectivity and port capacity with deep draft, and uninterrupted power supply, besides optimum utilization of the Special Export-processing Zones (SEZs).
Gujarat’s export shipment was valued at $ 59.58 billion in 2014-15, according to a study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) titled ‘Export Performance of States’ which was released earlier this year. The study analyzed the country’s export data between 2007-08 and 2014-15. In total, Gujarat accounts for around 19% of India’s exports.
Commenting on the achievement, Mr. PK Taneja, ACS, Industries and Mines, Gujarat Government, said “Given the cut-throat competition in international markets, it is imperative for Indian exporters to keep transaction costs down in order to remain competitive. Gujarat, with its excellent infrastructure in terms of rail, road, airports and ports, help exporters keep such costs under control. In addition to the strategic location and robust social, physical and industrial infrastructure, the state government’s business-friendly policies as well as easy availability of skilled and quality manpower and abundant natural resources has helped Gujarat emerge as the country’s most industrialized state.”
Keen to retain its position of the most investor-friendly destination in the country, Gujarat has been consistently focusing on infrastructure development. Gujarat has the highest share of 15.5 per cent in infrastructure projects (value terms) that are under operation based on the PPP mode in the country, said another recent study titled ‘PPP investment in Indian Infrastructure: Need for growth and development’ that was conducted by ASSOCHAM with infrastructure conglomerate SREI. Around 500 PPP projects with investments worth over Rs. 1.6 lakh crore are under operation across the country.
Regarding PPP in infrastructure, as per the information released by Department of Finance, Government of India in May 2016 – out of the 1232 PPP projects currently under construction, operational or awarded – 97 projects in Gujarat are currently under operation, operation or awarded – worth a value of about 10 billion USD or 679 INR billion.
As part of its journey towards sustainable long-term growth and inclusive development through consistent and coherent policies as well as effective investment promotion, the Gujarat government is organizing the 8th Vibrant Gujarat Global Summit from 10 – 13 January, 2017, at the Mahatma Mandir Exhibition cum Convention Centre in Gandhinagar. The event will bring together Heads of States and Governments, Ministers, leaders from the corporate world, senior policy makers, heads of international institutions and academia from around the world to further the cause of development and promote cooperation, provide opportunities to interact with key policy makers, industry leaders, global thought leaders, regulators and renowned academicians from all over the world as well as witness coherent deliberations between sector experts and global luminaries in an array of knowledge seminars during the Summit to comprehend evolving global sectoral trends, offer a platform for SMEs to connect globally with potential partners for exploring collaborations and partnerships, and foster interaction through networking platforms between stakeholders through B2B and B2G meetings. An exhibition spread over 1,25,000 sq.mts with exclusive demo sessions will feature the latest trends and technologies, products and services across sectors.
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(This story has not been edited by Business Sandesh Group and is published from a syndicated feed.)