Gujarat witnesses 41% growth in MSME sector

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Gujarat witnesses 41% growth in MSME sector

Gujarat witnesses 41% growth in MSME sector

Industry News
Nov 12,18

The state is encouraging SMEs and job creation in a big way, said Gujarat CM Vijay Rupani at FICCI NECM

Gujarat witnesses 41% growth in MSME sector

Ahmedabad, November 1, 2018

Gujarat, which is the backbone of the MSME sector, has seen a whopping 41 per cent growth in the sector, according to Gujarat Chief Minister, Vijay Rupani. The state government is giving Rs 1000 crore as incentives apart from providing best infrastructure. He added, “It is the surplus power and industrial peace that are making Gujarat one of the best places to do business. Gujarat, a policy-driven state, has in the true sense become a land of opportunities.”

Speaking at FICCI’s National Executive Committee Meeting, Vijay Rupani said that the state has been focusing in the Startups, SMEs and job creation in major way. “Gujaratis have excellent business acumen. And the contribution of the state in India’s economy has been exceptional. The state’s contribution in India’s GDP stands at 7 per cent. Moreover, Gujarat’s stock market contribution is 30 per cent. The numbers are testimony to the fact that Gujarat provides ease of doing business,” said Rupani.

He added, “While manufacturing is Gujarat’s strength, the state government has been focusing on infrastructure development. Gujarat is also one of the 25 focus centres listed under the Make in India movement. Also, from 2012 to 2018, foreign investment has increased to $ 20 billion.”

Speaking about FICCI, the Chief Minister, said, “FICCI has always promoted human development along with industrial development. Also, the organisation has constantly been a great support at the Vibrant Gujarat Summit and with the colossal event coming up in January 2019, we are looking forward to the same from them.”

Rashesh Shah, President, FICCI, said, “Gujarat continues to grow with focus on inclusive and sustainable development under the able leadership of Vijaybhai Rupani. With growth in every sector, Gujarat has become a truly vibrant state. With a thrust on infrastructure and industrial development in Gujarat, FICCI has also seen great progress and we’re truly honoured to be partners of the Vibrant Gujarat Summit, which has become a benchmark for other states to emulate in terms of scale, participation, and business co-ordination.”