Gujarat Aims for $3.5 Trillion Economy by 2047 as FICCI Commits to Support

FICCI
Image Courtesy: FICCI

In a special session at FICCI National Executive Committee Meeting, Chief Minister Bhupendra Patel reaffirmed Gujarat’s commitment to building an industry-friendly climate to drive investment and sustainable growth.

Highlighting initiatives and policies aimed at attracting business, Patel emphasized Gujarat’s role as a “growth engine” over the last 23 years, recognizing Prime Minister Modi’s efforts through programs like Make in India, Digital India, and Skill India.

Linking Gujarat’s ambitions to India’s vision of becoming a developed nation by 2047, Patel outlined the state’s economic goals, projecting a $3.5 trillion economy by that year. He cited Gujarat’s foreign direct investment (FDI) appeal and major sector investments in semiconductors, green hydrogen, and renewable energy. Patel welcomed it’s partnership as an asset to achieving these objectives.

Dr Anish Shah, FICCI President, acknowledged Gujarat’s contributions to India’s economy, noting that while the state comprises just 5% of India’s population, it contributes 8% to national exports, 30% to merchandise exports, and 40% to maritime cargo. Shah emphasized Gujarat’s consistent 12% growth rate as a crucial component of India’s $32 trillion economic vision for 2047, expressing it’s dedication to support Gujarat’s growth and $1 trillion target.

FICCI Senior Vice President Harsha Vardhan Agarwal praised the state’s economic vision, announcing FICCI’s intention to deepen collaboration with Gujarat. Rajiv Gandhi, Chair of FICCI’s Gujarat State Council and CEO & MD of Hester Biosciences, highlighted Gujarat’s industrial leadership, crediting the synergy between government policies and industry for driving job creation and living standards.

Harsha Vardhan Agarwal was appointed as FICCI’s President-Elect during the meeting, where industry leaders discussed strategies to advance economic opportunities and strengthen Gujarat’s impact on India’s economy.