This article explores the factors driving Gujarat’s success and its potential contribution to India’s ambitious goal of achieving a $1 trillion manufacturing economy by 2025-26.
A magnet for investments
Colliers India’s recent study underscores Gujarat’s dominance in attracting manufacturing investments in 2023. This can be attributed to several key factors:
1. Pro-Industry Policies:
• Gujarat’s dedicated industrial policy allocates a substantial 34.7% of incentives and benefits specifically to the manufacturing sector.
• This approach has resulted in attracting investments exceeding Rs 30,000 crores in 2023 from both domestic and foreign manufacturers.
2. Unrivalled infrastructure:
• With a 1600 km coastline and major ports like Kandla and Mundra, Gujarat excels in logistics, handling over 500 million tonnes of container throughput annually.
• Seamless movement of goods is a crucial aspect for any manufacturing hub.
3. Favourable labour environment:
• Gujarat’s low unemployment rate (4%) attracts skilled labor, while its business-friendly environment fosters positive employer-employee relations.
4. Stable governance & decision-making:
• The state offers a stable political climate and streamlined decision-making processes, ensuring swift action and minimizing bureaucratic hurdles for investors.
Foreign Direct Investment (FDI): A global partnership
Diese Geschichte stammt aus der February 2024-Ausgabe von Manufacturing Today.
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