Between October 2019 and March 2023, Gujarat has successfully attracted foreign direct investment (FDI) amounting to Rs 2.39 lakh crore or USD 31 billion, solidifying its position among the leading Indian states in FDI inflow, as per an official announcement. The consistent growth in FDI in Gujarat is attributed to the state government’s efforts, with the Vibrant Gujarat Global Summit (VGGS) playing a pivotal role in this achievement. The upcoming 10th edition of VGGS, scheduled for January next year in Gandhinagar, is expected to further contribute to the state’s appeal for investors.
Gujarat has witnessed a substantial 84% increase in FDI in the fiscal year 2022-23 compared to the previous year, marking the highest growth among all states and Union Territories, according to VGGS’s website. The state accounts for 30% of the total Industrial Entrepreneur Memorandum (IEMs) implemented, amounting to Rs 1.04 lakh crore in 2021, the highest among all states and UTs. With a focus on “Ease of Doing Business,” Gujarat’s state government has emphasized initiatives such as an investor facilitation portal, online issuance of approvals, digitized land bank, and self-certification, contributing to the state’s reputation as a top investment destination.
Gujarat’s exceptional infrastructure, connectivity, and skilled workforce have further enhanced its business climate. The state’s commitment to development and progress is evident in its proactive measures, attracting significant FDI and positioning Gujarat as a key player in India’s economic landscape. The VGGS, which initially had no partner countries, witnessed the participation of 15 partner countries by 2019, showcasing the summit’s growing international significance.
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