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Ahmedabad 9 days ago
A deliberation meeting will be held on the role of industries in economic growth
The activity is located in the gorges of Gujaratis, engine of the industrial growth of the country. Gujarat and Gujaratis have carved out the lion’s share, even in the smallest industries. At present, Gujarat has an average of 4.25-4.50 lakh of small, medium and large units. Not only that, the contribution of the industrial sector to Gujarat’s GDP has been over 44%. The Federation of Industries and Associations (FIA) organized a think tank meeting in Kevadia to give a boost to industrial units. The meeting is scheduled to discuss the role that industries can play.
Gujarat has been a global market leader not only in the country’s industrial growth engine, but also in sectors such as diamonds, ceramics, pharmaceuticals and chemicals. Small and medium-sized pharmaceutical companies in Gujarat account for 70 to 80 percent of the country’s total exports. Small and large industries in Gujarat have achieved remarkable development. In addition, when Gujarat is India’s largest exporting state with a rate of 14 percent, there is a need to remove some of the barriers to the expansion of industries and accelerate the growth of industries.
The meeting is scheduled for January 3 with a meeting of 100 delegates including the President of the Regional Chamber of Commerce and Industry, the President of the Federation and the main industrialists. Union Minister Mansukh Mandvia, Chief Minister Vijay Rupani and GIDC Chairman Balwant Singh Rajput will address online. Gujarat is an industry hub. In which MSME is the largest proportion. Industries have the largest share of Gujarat’s GDP. A think tank was organized on how to achieve rapid growth and advance industries with government.
There will be agreements for MSME loans and smart domains, stimulating
During this meeting, FIA will sign a Memorandum of Understanding with Yes Bank for an MSME loan across Gujarat. Apart from this, a Memorandum of Understanding will also be signed with Vibrant Industrial Park Limited Company to set up a smart estate with modern facilities on 25,000 hectares across Gujarat which will give industrial units a boost. > Prakash Vermora, President-FIA.
Huge investment of Rs 50,000 crore could come in pharmaceutical industry, engineering and chemistry
Gujarat is emerging as an engineering and chemical hub after pharmacy. More than Rs 50,000 crore is invested in these three sectors in 2021. The FIA is playing an active role in attracting large-scale European and Russian investment to Gujarat. To boost the sector, GIDC must allocate 12,000 hectares of vacant land to industries. > Ajit Shah, Secretary-FIA