Gujarat Committed To Achieve Prime Minister's Vision Of Making India A 5 Trillion-Dollar Economy: Chief Minister Shri Bhupendra Patel

Gujarat has come up with a pioneering strategy roadmap to realize the vision given by Prime Minister Shri Narendrabhai Modi to make India a 5 trillion-dollar economy. In this regard, the chairman of the task force formed by the Gujarat government, Dr. Hasmukh Adhia submitted this roadmap to Chief Minister Shri Bhupendra Patel in Gandhinagar on Tuesday.

Giving the details of this roadmap strategy to the Chief Minister, the Chairman of the Task Force Dr. Hasmukh Adhia said that this roadmap has been prepared by this task force formed by the state government in a short span of only 3 months. Not only that, the suggestions of all the departments of the state government and also the suggestions of about 15 stakeholders have been obtained for preparing this roadmap and it has been included in the strategy.

He added that the Prime Minister also hoped that each of the states would come up with a roadmap strategy to realize the vision of a 5 trillion-dollar economy. Gujarat has fulfilled this expectation by taking a leading initiative. He also suggested that the roadmap be submitted to the Prime Minister's Office, the Policy Commission, and the Government of India.

Dr. Hasmukh Adhia also gave a detailed presentation of this roadmap.

He said that if India's Economy's target of 5 billion-dollar is to be achieved by FY 2026-27, Gujarat needs to accelerate its economic growth. Gujarat's share in the national economy in the year 2021 is 8.36%, it should be increased to 10%. This means that the growth rate in Gujarat for the next 5 years is required to be a compound annual growth rate of 14.5%, which has remained around 12.3% in the last decade.

He added that the manufacturing sector is a major aspect of the state's economy. The task force has been directed to focus on the growth of a total of 9 new economic sectors. In which, it is suggested to place special emphasis on green and smart manufacturing, use of technology, precise methodology, and procedures required for the supply chain management.

To increase the share of service sectors in the economy, invest in IT, fintech, and tourism sectors which also include medical tourism, and develop these sectors as well as on the need and planning of budgetary resources to create high-quality infrastructure for service sectors. Special targets have been suggested.

Dr. Adhia further said that it has been suggested to develop 5 to 6 tourism clusters in a way similar to the development of the Statue of Unity to boost the tourism sector in Gujarat. They have also suggested in this roadmap to make efforts to attract capital investment in IT, tourism, and other sectors in the state, to improve the international connectivity of 4 to 5 major airports.

To develop the service areas of the state in urban areas, the state will need to develop other world-class urban centers just like Gift City. He suggested that the development of urban areas would require massive capital investment in areas such as metro rail, ring roads, urban mass transport, and urban housing.

They have suggested that startups need to be promoted to make efficient use of Gujarati entrepreneurship. The state of Gujarat is a leader in the export of manufactured goods, he said, adding that it was necessary to provide leadership for service-oriented exports. Gujarat has a strategic location in the country and extensive capital investment is required for coastal development and the development of the blue economy. It will provide a vast opportunity for the economic upliftment of the coastal community and promote the vast possibilities for the development of tourism and port connectivity.

Regarding other aspects of roadmap strategy, he added that Gujarat is a leader in the field of renewable energy. To meet the long-term energy needs, the state will have to place special emphasis on renewable energy, microgrids, and electric mobility. The state government needs to take the initiative to produce green hydrogen and semiconductors. For the development of the agricultural sector of the state, it has become very important to increase agricultural production with the help of advanced farming methods and technology.

For the state to have the workforce required for the development of all economic and industrial sectors, it is necessary to develop an advanced and efficient ecosystem in the areas of higher education and enhance the skills of the people. The Chief Minister assured that the state government is committed to realizing the PM’s vision of a 5 trillion-dollar economy and an intensive implementation framework will be developed by the state for the implementation of all the suggestions suggested in the task force report.