The
dynamism that has always reflected
Gujarat's economic growth has filtered
down through the ages. The drive to be
among the foremost states of India in
all spheres of activites is infectious
- and representative of the state's
people as well as those in power. Only
in the past decade or so there has
been a focused approach towards making
Gujarat the most industrialized state
in India. Even otherwise, various
state development organisations,
institutions and quasi-government
bodies have played a key role in
chalking out development initiatives
for the state. Various sectoral
initiatives and investments in
important infrastructural and
industrial projects has paved the way
for the rapid industrialization of the
state.
The
state of Gujarat is blessed with rich
natural resources with fertile
ago-climatic conditions. With the
critical support of industrial
infrastructure and transport network,
Gujarat truly presents itself as a
land of limitless opportunities - a
fact that has been attested by
economists and policy planners.
Gujarat's proactive industrial policy
drafted by its farsighed economic and
policy mandrains aims to tap these
vast untapped potential of this
diverse region. Needless to say, that
the 'growth oriented' strategies has
indeed turbocharged industrial growth
in Gujarat and has rejuvenated inflow
of fundsand industrial activity of the
state. Analysts aver that the
infrastructural growth of state's
economy lies in it's industrial and
technological development. Keeping
this in context, the state government
has chalked out ambitious plans to
forcefuel industrial growth. In a
broader prespective, Gujarat's
industrial blue print seeks to achieve
speedy and balanced development of
industries and industrial hubs by
creating favorable conditions for
installation and expansion of
industrial units. In order to achieve
these objectives, a welter of sops,
incentives, tax holidays, single
window clearances have been introduced
by the state government. These
proactive measures also include
investors and enterpreneurs, removing
bureaucratic and procedural hiccups,
speedy approvals of water, power and
other core amenities.
The advent of liberalisation saw the
deplecting dependence on the license
rule for economic development.
Perestroika ushered in the mid 90s,
saw the liberalisation of trade and
exchange doctrines with tariff and
non-tariff barriers lowered
significantly. Global corporations
were now preceiving India in a
different light and had already
pinpointed India as one of the most
attractive investment outposts in the
world. In order to cash in on this
changed global environment, the state
government has been actively promoting
several core sectors to foreign
investment thus encouraging domestic
and multinational companies to
participate in core industrial
projects.
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In
order to facilitate participation from the private sector the
state has extended it's support through a slew of radical
policy changes. The state government has realized that the
trust of Gujarat's economic revamp strategy apart from core
sector development of it's 'high- revenue' genrating sub
sectors. These sectors play a pivotal role in the creation of
numerous employment opportunities for the state by virtue of
their varied products and services. The key strength of any
progressive state's economy is it's ability to sustain and
strenghten it's core industrial competencies. The state has
thrived on traditional industries since time immemorial. The
strategy delinates the strengthening of the cottage industry
that has been the pivot of the state's economy. This would
mean better quality, design, packaging and marketing of the
products thus making it competitive in the domestic as well as
global market. With exports playing a crucial role in India's
economy, the Gujarat government has identified exports as a
key thrust segment. Exports will not only provide the much
needed foreign exchange but also enhances the core competency
and prefessionalism of the local and trraditional industry.
Gujarat
holds tremendous promise for multinational and domestic
corporations by way of investment opportunities. Support
mechanisms with respect to law and order have been stepped up
to create an atmosphere of security for corporate house and
enterpreneurs. Proactive to the needs of core and sub sectors,
the state government has provided customised segment support
packages on a continous basis in consultation withthe industry
a move that has kickstarted a slew of small and medium scale
industrial units. The comprehensive package also includes
incentives and various support services to encourage
entrepreneurship in selected 'high growth' sectors with
particular focus on the rural sector- Gujarat's major revenue
generating sector. Infusion of fresh funds and an ideal
climate is what Gujarat stands for. And to be sure, these are
the prime factors that contribute to the economic grwoth of a
state. With the traditional sector still playing a vital role
in the state's economic development the Gujarat state
government has extended it's upport to these traditional
industries by providing them with critical inputs and
competitiveness.
The
state is on a mission to create a meaningful business
environment for them to invest in core sector, as well as in
sub sector projects. Industry analysts, policy watchers and
futurists prognosticate that the economy of the state is bound
to grow more and that opportunities will increase manifold for
foreign investors. With foreign direct investments becoming
increasingly imperative for core sectors projects the Gujarat
government has adhered to a strategic investment promotional
program that would create circumstances to facilitate investor
participation there by making Gujarat the leading state in the
country for foreign investments.
With
the liberalisation of the Indian economy and the innate need
to become globally competitive, it is crucial for any state to
have a power infrastructure to cater to the industrial and
growing services sectors. The increasing demand for power has
always been looked upon as key driver to the concomitant
growth of a state's economy. In order to facilitate fast track
industrial growth, the state government has given critical
components of infrastructure viz. power, real estate,
telecommunication and air & road a greater thrust by
adopting concreate and dynamicpolicies to turbocharge
infrastructure development. Gujarat plans to upgrade it's
power and water scenario through radical and concrete measures
in the areas of electricity transmission and water
distribution. With the states high potential for alternative
power generation, power from non-conventional sources has been
given the highest priority and this would be achieved by
adopting suitable and competitive policies by the state.
General Section
