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MSMEs Symbolize Gujarat’s Inherent Entrepreneurial Nature
Gujarat is not only about the destination for the large capital investment from the global investors. Gujarat is as attractive for MSMEs. In the recent data, State has received the bulk of investment in the this sector. Author talks about the policies for the industries, localize supply chains and local ecosystem that set ground for such investment.
Photo Credit :
Manoj Das, Principal secretary, Gujarat
Gujarat predominately is known as the Industrial Engine of India. Large investments have been witnessed from global giants such as Arcelor Mitaal, BASF, Nayara Energy, Amazon fulfillment center, Bank of America, Baxter International among others in the last few years.
Is Gujarat home for large conglomerates? This is the question which comes to our mind. This fact provoked me to think - how the industrial ecosystem is developing for budding, small and medium entrepreneurs?
We analyzed the data from the date of release of Gujarat Industrial policy (7th August 2020), the state has received investment of approx. INR 46,992 crores comprising of 1.72 lakhs units with an employment of 18.55 lakhs. These investments are from sectors such as embroidery work, diamond cutting and polishing, apparel, plastic products, weaving, gems and jewellery, fabrication, machinery equipment, silk and blended silk textile , wooden furniture, paper products, professional services, transport services, food service delivery, real estate, beauty parlour and wholesale textile trading etc.
It is evident that Gujarat is not only the state grounding large scale investments from global giants but is also a platform for small and medium enterprise to flourish both from manufacturing and service sectors.
In the last fortnight alone additional investments have been witnessed in the following areas.
PV module and Lithium ion battery
Technical Textiles- baby diapers
Particle board & Prelam particle board
Automotive and Glass industry
Natural fibre - Substitute of plastics
Gujarat is also poised to become the “Metal Capital of India”. Upcoming projects in Metal Sector includes: Arcelor Mittal (steel), Essar (steel), Vedanta Group (zinc smelter, World’s largest), JSW (steel), Aditya Birla Group (copper Expansion & Aluminum recycle) and Manikaran Power Ltd. (lithium).
The state has witnessed unprecedented growth and has been 1st in terms of attracting investments, both FDI and domestic. Gujarat offers industries to not only localize supply chains and de-risk their operations, but also strengthen the local ecosystem that would help in creating cost-effective and sustainable solutions. Gujarat and its transformational model today, is one of the key contributors towards ‘Atmanirbhar Bharat’.
Gujarat Government with its strong vision is strengthening the state infrastructure to capitalize on the infinite opportunities India offers to the world. The number of businesses is rising and so is the number of jobs created, every year. With a new vision firmly held in sight, the state is perfectly positioned to accelerate India’s growth in the 21st century.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.