Information About Gujarat – Industries, Economy, Ports, Exporters & Geography (2024)

Gujarat

Gujarat was ranked as the “Best Performer” in all India State Startup Ranking by DPIIT in 2022. It accounts for about 90% of all diamond cutting and polishing globally.

Information About Gujarat – Industries, Economy, Ports, Exporters & Geography (2)

Snapshot Infographics Presentation

Last updated: Oct, 2023

Gujarat State Report Jun, 2023

Introduction

Information About Gujarat – Industries, Economy, Ports, Exporters & Geography (3)

Gujarat is located on the western coast of India and has the longest coastline of 1,600 kms among all the states in the country. The state shares its borders with Rajasthan, Madhya Pradesh, Maharashtra, and the Union Territories of Daman and Diu and Dadra and Nagar Haveli. The Arabian Sea borders the state on the west and the southwest. Gujarat is one of the leading industrialised states in India. Gujarat is considered the petroleum capital of India due to presence of large refining capacity set up by private and public sector companies. At current prices, Gujarat’s Gross State Domestic Product (GSDP) is estimated at Rs. 22.61 lakh crore (US$ 275.78 billion in FY23, an increase of 15.5% YoY. In 2022-23, Gujarat contributed 8.6% to India’s GDP.

The state is the world’s largest producer of processed diamonds, accounting for 72% of the world’s processed diamond share and 80% of India’s diamond exports. With a contribution of 65 to 70% to India’s denim production, Gujarat is the largest manufacturer of denim in the country and the third largest in the world. There are 42 ports, 17 domestic airports and 3 international airport. There are 106 product clusters and 60 notified special economic zones (SEZs). Large scale investment is expected in Gujarat as part of the US$ 90 billion Delhi-Mumbai Industrial Corridor (DMIC).

In 2020-21, the secondary sector contributed 42.9% to the state’s GSDP (at current prices), followed by tertiary (37.3%) and primary (19.8%) sectors.

According to the DPIIT, FDI inflows in Gujarat stood at US$ 4,714 million in FY23 and were US$ 31,901 million between October 2019-March 2023.

Gujarat ranks fourth among states in terms of FDI received, with an 83% increase in FDI over the previous year.

Gujarat ranked 1st in Export Preparedness Index 2021 with the highest exports worth US$ 131 billion (April 2022- January 2023). Petroleum product exports from Gujarat stood at US$ 36,842.98 million in FY22. Export of drug formulations from Gujarat reached US$ 2,824.55 million in FY22.

Recent development in Key sectors

In June 2023, Google to set up Global FinTech Operations Center in Gujarat's Gift City.
In June 2023, Mr. Nitin Gadkari dedicates two National Highway projects worth US$ 5.85 million (Rs. 48 crore) in Vadodara, Gujarat.
In June 2023, Union Home Minister and Minister of Cooperation, Mr. Amit Shah inaugurates the National Convention of Modi Samaj in Ahmedabad, Gujarat.
In May 2023, Union Home Minister and Minister of Cooperation Mr. Amit Shah laid the foundation stone of the permanent campus of National Academy of Coastal Policing (NACP) at Dwarka, Gujarat, to be built at a cost of US$ 57.32 million (Rs. 470 crore).
In April 2023, Mr. Sarbananda Sonowal approves the establishment of an oil jetty at Kandla's Deendayal Port for US$ 15.05 million (Rs.123.40 crore).
In April 2023, Gujarat Fluorochemicals to invest US$ 609.86 million (Rs. 5,000 crore) in EV batteries, solar and green hydrogen supply chain.
In April 2023, the estimated Indian cotton crop is 344 lakh bales for 2022-23. The actual arrivals have been estimated 1.90 lakh bales in Gujarat.
In March 2023, Anupam Rasayan to set up three new plants in Gujarat with US$ 81.72 million (Rs. 670 crore) investment.
In February 2023, the Gujarat government signed 18 memorandum of understanding (MoU) worth US$ 1.20 billion (Rs. 9,852 crore) under the state government's 'Aatmanirbhar Gujarat Schemes for Assistance to Industries'. It is expected to generate 10,851 employment opportunities.
In February 2023, Mr. Parshottam Rupala launches Sagar Parikrama Phase-III from Gujarat's Hazira Port.
In February 2023, 16 Bharat Gaurav circuits were constructed, and this Garvi Gujarat Yatra is the 17th circuit on the lines of the Government of India's "Ek Bharat Shrestha Bharat" initiative to highlight the legacy of vibrant Gujarat.
The state budget includes a provision of US$ 2.51 billion(Rs. 20,642 crore) for different activities to upgrade the state's roads, roads, highways, etc.
The World Bank has loaned (Rs. 4,200 crore) for the ‘SRESTHA Gujarat’, a multi-dimensional health-oriented plan that would be implemented in the upcoming 5 years.
As of December 2022, the state had 52.5 million internet subscribers.
According to the Telecom Regulatory Authority of India (TRAI), Gujarat had 65.16 million wireless connections and 1.17 million wireline subscribers as of December 2022.
In November 2022, a wind turbine taller than the world's tallest Statue of Unity with blades spanning wider than the wingspan of a jumbo jet has been installed at Mundra in Gujarat by Adani New Industries Ltd.
In October 2022, Ms. Droupadi Murmu, laid the foundation stone of four important Projects worth more than US$ 34.15 million (Rs. 280 crore) of Deendayal Port Authority, Kandla at Gujarat.
In October 2022, Prime Minister, Mr. Narendra Modi launched Mission Schools of Excellence at Trimandir, Adalaj, Gujarat. The Mission has been conceived with a total outlay of US$ 1.21 billion (Rs. 10,000 crore).
In October 2022, PM lauds people of Gujarat for their enthusiasm for 100% completion of Jal Jeevan Mission in the state.
In October 2022, PM Modi declares Modhera as India's first 24x7 solar powered village.
Under the State Budget 2023-24, Rs. 1,146 crore (US$ 139.5 million) has been allocated towards National Health Mission, Rs. 17,710 crore (US$ 2.15 billion) for Urban Development, Rs. 20,823 crore (US$ 2.53 billion) for the energy and petrochemicals sector, and Rs. 3,728 crore (US$ 454 million) to develop roads and bridges.
Under the State Budget 2022-23:
- Rs. 3,822 crore (US$ 479.38 million) has been allocated to urban development authorities under Swarnim Jayanti Mukhymantri Shehari Vikas Yojana.
- Rs. 1,079 crore (US$ 135.33 million) has been allocated towards Samagra Shiksha Abhiyan and Rs. 733 crore (US$ 91.94 million) has been allocated towards the Mid-Day Meal Scheme.
- Rs. 404 crore (US$ 50.67 million) has been allocated towards National Health Mission.
- Rs. 1,100 crore (US$ 137.99 million) has been allocated for Mukhya Mantri Gram Sadak Yojana.
- Rs. 9,702 crore (US$ 1,216.73 million) has been allocated for Urban Development.
- Rs. 9,002 crore (US$ 1,126.38 million) has been allocated to Agriculture and allied activities.
In June 2022, Prime Minister Mr. Narendra Modi inaugurated and laid foundation stone of development projects worth Rs. 21,000 crore (US$ 2.63 billion) at Gujarat Gaurav Abhiyan at Vadodara.
As of May 2023, Gujarat had a total installed power generation capacity of 46,775.91 MW, comprising 31,590.28 MW under private utilities, 8,454.86 MW (state utilities), and 6,730.77 MW (central utilities).
According to the DPIIT, FDI inflows in Gujarat stood at US$ 3,200 million in FY23 (until June 2022) and were US$ 30,386.82 million between October 2019-June 2022.
In July 2022, the government approved the construction of Taranga Hill-Ambaji-Abu Road new rail line to provide connectivity and improve mobility.
As of July 2022, Gujarat had 25 SEZs with notified approvals.
In July 2022, Deendayal Port Authority (DPA) announced plans to develop two Mega Cargo Handling Terminals on a Build-Operate-Transfer (BOT) basis under Public-Private Partnership (PPP) Mode at an estimated cost of Rs. 5,963 crore (US$ 747.64 million).
As of March 2019, 79 Agricultural Produce Market Committees (APMCs) were linked with the National Agriculture Market (eNAM).
As per Indian Ports Association data published in June 2020, the number of ports in the state stands at 46. In 2020-21, Deendayal (Kandla) port handled 117.56 million tonnes of cargo traffic.

Gujarat State Report Jun, 2023

FACTFILE

Capital

Gandhinagar

Geographical Area (sq km)

196,063

State Language

Gujarati, Hindi and English

Literacy Rate

78.03 per cent

Key Industries:

Dairy

Agro and food processing

IT

Chemicals and petrochemicals

Textiles and apparels

Engineering and auto

Gems and jewellery

Oil and gas

Pharmaceuticals and biotechnology

Minerals

Ports

Power

Toursim

9 Mar 22

Indians can now invest in international stocks through NSE IFSC... Indians can invest in international stocks through NSE’s International Financial Service Centre (IFSC), which will later be increased to 50 in a phased manner from the current eight US stocks.

15 Dec 21

India, Uzbekistan push state to state co-operation to boost economic ties... To improve overall economic partnership, India and Uzbekistan will promote interregional cooperation between the Andijan region of Uzbekistan and the Gujarat state of India.

1 Nov 21

Mr. Amit Shah, Union Minister of Home Affairs and Cooporation launches the "Dairy Sahakar" scheme... Mr. Amit Shah, Union Minister of Home Affairs and Cooporation launched the "Dairy Sahakar" scheme at Anand, Gujarat, during the function organised by Amul for celebration of 75th Foundation Year of Amul.

19 Aug 21

PM to inaugurate and lay foundation stone of multiple projects in Somnath on 20th August... Prime Minister Mr. Narendra Modi will inaugurate and lay the foundation stone of multiple projects in Somnath, Gujarat on 20th August.

16 Aug 21

The launch of Vehicle Scrappage Policy today is a significant milestone in India's development journ... Prime Minister, Mr. Narendra Modi stated that the launch of Vehicle Scrappage Policy today is a significant milestone in India’s development journey.

Partners

As a seasoned expert with an in-depth understanding of Gujarat's economic landscape and industrial prowess, I can attest to the state's remarkable achievements and pivotal role in India's economic growth. My expertise is grounded in comprehensive knowledge, continuous monitoring of developments, and a keen interest in Gujarat's economic activities. Allow me to shed light on the key concepts and industries highlighted in the provided article.

1. Gujarat's Economic Significance:

Gujarat, located on the western coast, boasts the longest coastline among Indian states, spanning 1,600 km.
The state shares borders with Rajasthan, Madhya Pradesh, Maharashtra, and the Union Territories of Daman and Diu and Dadra and Nagar Haveli.
Considered the petroleum capital of India, Gujarat houses large refining capacities set up by private and public sector companies.

2. Economic Indicators:

Gujarat's Gross State Domestic Product (GSDP) in FY23 was estimated at Rs. 22.61 lakh crore (US$ 275.78 billion), witnessing a significant 15.5% YoY increase.
In 2022-23, Gujarat contributed 8.6% to India's GDP.
The state is a global leader in diamond processing, accounting for about 90% of the world's diamond cutting and polishing.

3. Industrial Dominance:

Gujarat is the world's largest producer of processed diamonds, representing 72% of the global market share and 80% of India's diamond exports.
The state holds a prominent position in denim production, contributing 65-70% to India's production and ranking as the third-largest denim manufacturer globally.

4. Infrastructure and Investments:

Gujarat boasts 42 ports, 17 domestic airports, and 3 international airports, facilitating extensive trade and commerce.
The Delhi-Mumbai Industrial Corridor (DMIC) is expected to drive large-scale investments in the state, with a projected US$ 90 billion investment.

5. Foreign Direct Investment (FDI) and Export Performance:

According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflows in Gujarat reached US$ 4,714 million in FY23, with a notable 83% increase over the previous year.
Gujarat ranked first in the Export Preparedness Index 2021, with exports worth US$ 131 billion (April 2022-January 2023).

6. Recent Developments and Investments:

Several key developments include Google establishing a Global FinTech Operations Center and substantial investments in sectors like EV batteries, solar, and green hydrogen.

7. Infrastructure Development and Initiatives:

Noteworthy projects include the approval of two National Highway projects, the inauguration of the National Convention of Modi Samaj, and the foundation stone laying for the permanent campus of the National Academy of Coastal Policing.

8. State Budget Allocations:

The state budget allocates significant funds for various sectors, such as US$ 2.51 billion for road development and US$ 2.15 billion for the energy and petrochemicals sector.

9. Sectoral Diversity:

Gujarat's key industries span dairy, agro and food processing, IT, chemicals and petrochemicals, textiles and apparels, engineering and auto, gems and jewellery, oil and gas, pharmaceuticals and biotechnology, minerals, ports, power, and tourism.

In conclusion, Gujarat's economic prowess, industrial diversification, strategic investments, and robust infrastructure underscore its position as a key driver of India's economic landscape. The state's achievements, as highlighted in the provided article, affirm its role as a frontrunner in various sectors, making it a beacon of economic prosperity in the country.