Gujarat attracts FDI worth Rs 2.39L cr

Ahmedabad: Gujarat has received foreign direct investment worth Rs 2.39 lakh crore or $31 billion between October 2019 and March 2023 and is among the top Indian States in attracting FDI, according to an official release. FDI in Gujarat has increased consistently over the years due to the efforts of the State government and the Vibrant Gujarat Global Summit (VGGS) has played a crucial role in achieving it, the release said. The 10th edition of the biennial VGGS is scheduled to be held in January next year in Gandhinagar.

Officials said Gujarat is among the top investment destinations in the country and has received FDI worth Rs 2.39 lakh crore ($31 billion) from October 2019 to March 2023. The state saw a rise of nearly 84 per cent in FDI in 2022-23 compared to the previous year, which was the highest among all the states and Union Territories, as per the website of VGGS. “Gujarat accounted for 30 per cent of the total Industrial Entrepreneur Memorandum or IEMs implemented (Rs 1.04 lakh crore) in 2021, which was also the highest among all the states and UTs,” said the website.

With its “outstanding infrastructure, connectivity, and qualified workforce”, the state government has been putting in efforts to improve the business climate in Gujarat under the “Ease of Doing Business” initiative, officials said. This includes setting up of investor facilitation portal, online issuance of approvals and licences, digitised land bank and self-certification, they said, adding that the state is coursing on the path of development and creating new patterns of progress and prosperity. While there were no partner countries in the earlier editions of the vibrant Gujarat summit, by 2019, the mega investors' meet had seen the participation of 15 partner countries, said the release.