Gujarat aims for $3.5 trillion economy by 2047, says CM at FICCI centenary event

Ahmedabad, April 21 (IANS) Gujarat has set a target of developing a 3.5 trillion US dollar economy by 2047 under its ‘Viksit Gujarat @2047’ roadmap, Chief Minister Bhupendra Patel said on Tuesday, while addressing the centenary celebrations of the Federation of Indian Chambers of Commerce and Industry (FICCI) and its National Executive Committee meeting.

He said the roadmap has been prepared in alignment with the national vision of 'Viksit Bharat @2047' and is aimed at driving long-term economic expansion through industrial growth, emerging technologies and investment-led development.

“The aim is to take the state’s economy to a 3.5 trillion US dollar economy by 2047,” he said.

Patel said Gujarat currently contributes 8.3 per cent to India’s GDP, 18 per cent to national industrial output and 27 per cent of the country’s total exports, describing these figures as evidence of the state’s strong industrial base.

"The state is focusing on emerging sectors such as semiconductors, artificial intelligence and green growth to sustain future development," he said.

Referring to recent investments, he said: "Two semiconductor plants were inaugurated at Sanand by Prime Minister Narendra Modi, which would integrate Gujarat into the global semiconductor supply chain."

He also highlighted the development of GIFT City, stating that it is being strengthened with an artificial intelligence centre of excellence, data infrastructure and fintech ecosystem to support new-age industries.

"Gujarat has introduced sector-specific policies, including semiconductor policy, IT and ITES policy and global capability centre policy, aimed at creating a stable investment environment. 100 companies from the Fortune 500 list are currently operating in the state," he noted.

Patel also referred to national initiatives launched under Prime Minister Narendra Modi, including Digital India, Make in India, Startup India and Skill India, stating that "these programmes have strengthened India’s self-reliance and industrial growth".

He said industry bodies such as FICCI have contributed to supporting this development journey.

Quoting the Prime Minister’s governance principle, he said development continues to be guided by “Sabka Saath, Sabka Vikas, Sabka Vishwas and Sabka Prayas,” and called for continued collaboration between government and industry.

"The state has also adopted the concept of women-led development and launched the ‘Her Start-up’ platform to encourage women entrepreneurs and expand participation in the startup ecosystem," he asserted.

FICCI President Anant Goenka said Ahmedabad was selected as the launchpad for the centenary celebrations due to its strategic importance and Gujarat’s industrial ecosystem.

He said, “Gujarat has demonstrated how state policies can transform the economic field. The state’s approach, combining policy direction and private sector engagement, could serve as a model for others. FICCI is keen to work with the state government to enhance investment in manufacturing, services and digital infrastructure."

--IANS

mys/uk