Gandhinagar (Gujarat) [India], Gujarat has recorded a 55 per cent rise in foreign direct investment (FDI) inflow during the financial year 2023-24, according to data released by the Department for Promotion of Industry and Internal Trade (DPIIT).
According to DPIIT data released on Friday, Gujarat received $7.3 billion in fiscal year 2023-24, compared to $4.7 billion received in fiscal year 2022-23. FDI inflow into the state has increased consecutively for the last three years, securing investments of $2.7 billion in FY2022, $4.7 billion in FY2023 and $7.3 billion in FY2024.
“Gujarat has shown consistent growth in FDI attraction for three consecutive financial years by securing investments of $2.7 billion in FY2022, $4.7 billion in FY2023 and $7.3 billion in FY2024. "Gujarat Chief Minister's Office (CMO) said in a post. in X.
Among the major factors that have influenced FDI attraction are Gujarat's state-of-the-art industrial infrastructure, its industry-friendly policies and constant improvements in ease of doing business.
The government claimed that the biennial Vibrant Gujarat Summit, launched by Prime Minister Narendra Modi during his tenure as Chief Minister of Gujarat, has also played an important role in attracting new investments to the state. Notably, the first Vibrant Summit during Azadi Ka Amrit Kaal was held in January this year.
"Aligned with Hon'ble Prime Minister Shri@narendramodi's #ViksitBharat vision, Gujarat CM Shri @Bhupendrapbjp has ensured that all possible mechanisms are in place to facilitate investment and business, from state-of-the-art industrial infrastructure to pro-business infrastructure. The biennial government policies of Vibrant Gujarat Summits that the Honorable Prime Minister Shri Narendra Modi had first promoted during his tenure as CM of Gujarat have also played an important role in attracting new investments due to the dedicated efforts of the Government. 'Team Gujarat', the State will also attract significant investments in emerging industries such as semiconductors and other promising sectors,” the CMO added in his article.
In the 10th edition of the Vibrant Summit held in January this year, MoUs were signed for 41,299 projects worth Rs 26.33 lakh crore. A large part of the MoUs concerned the field of green energy. In 2022, MoUs were signed for 57,241 projects with investments worth Rs 18.87 lakh crore, but the Vibrant Gujarat Summit 2022 was postponed due to the COVID-19 pandemic.
Cluster-based industrial regions such as GIFT City, Sanand GIDC, Dholera SIR (Special Investment Region) and Mandal Bechraji SIR also played an important role in attracting investors. Large projects, such as multiple semiconductor manufacturing plants, have also played a huge role in attracting foreign investment.
The state has also launched and effectively implemented new sectoral policies in areas such as renewable energy, semiconductors and IT in the last three years, which have also created a favorable investment climate in the state.
Financial incentives for entrepreneurs and small industries setting up in Gujarat, fast-track land allotment, power connections and other business-friendly measures have also played an important role in attracting fresh investments.
According to DPIIT data released on Friday, Gujarat received $7.3 billion in fiscal year 2023-24, compared to $4.7 billion received in fiscal year 2022-23. FDI inflow into the state has increased consecutively for the last three years, securing investments of $2.7 billion in FY2022, $4.7 billion in FY2023 and $7.3 billion in FY2024.
“Gujarat has shown consistent growth in FDI attraction for three consecutive financial years by securing investments of $2.7 billion in FY2022, $4.7 billion in FY2023 and $7.3 billion in FY2024. "Gujarat Chief Minister's Office (CMO) said in a post. in X.
Among the major factors that have influenced FDI attraction are Gujarat's state-of-the-art industrial infrastructure, its industry-friendly policies and constant improvements in ease of doing business.
The government claimed that the biennial Vibrant Gujarat Summit, launched by Prime Minister Narendra Modi during his tenure as Chief Minister of Gujarat, has also played an important role in attracting new investments to the state. Notably, the first Vibrant Summit during Azadi Ka Amrit Kaal was held in January this year.
"Aligned with Hon'ble Prime Minister Shri@narendramodi's #ViksitBharat vision, Gujarat CM Shri @Bhupendrapbjp has ensured that all possible mechanisms are in place to facilitate investment and business, from state-of-the-art industrial infrastructure to pro-business infrastructure. The biennial government policies of Vibrant Gujarat Summits that the Honorable Prime Minister Shri Narendra Modi had first promoted during his tenure as CM of Gujarat have also played an important role in attracting new investments due to the dedicated efforts of the Government. 'Team Gujarat', the State will also attract significant investments in emerging industries such as semiconductors and other promising sectors,” the CMO added in his article.
In the 10th edition of the Vibrant Summit held in January this year, MoUs were signed for 41,299 projects worth Rs 26.33 lakh crore. A large part of the MoUs concerned the field of green energy. In 2022, MoUs were signed for 57,241 projects with investments worth Rs 18.87 lakh crore, but the Vibrant Gujarat Summit 2022 was postponed due to the COVID-19 pandemic.
Cluster-based industrial regions such as GIFT City, Sanand GIDC, Dholera SIR (Special Investment Region) and Mandal Bechraji SIR also played an important role in attracting investors. Large projects, such as multiple semiconductor manufacturing plants, have also played a huge role in attracting foreign investment.
The state has also launched and effectively implemented new sectoral policies in areas such as renewable energy, semiconductors and IT in the last three years, which have also created a favorable investment climate in the state.
Financial incentives for entrepreneurs and small industries setting up in Gujarat, fast-track land allotment, power connections and other business-friendly measures have also played an important role in attracting fresh investments.
