Principal Secretary, Industries & Mines Department, Government of Gujarat Manoj Kumar Das (IAS:1990:GJ) has reasons to rejoice as the state has registered the highest FDI Growth in India in 2019-20. 

Data released by Department for Promotion of Industry and Internal Trade (DPIIT), Govt of India suggests that Gujarat received Rs 42,976 crore worth of FDI in 2019-20 which is 3.4% times more than in 2018-19 that was Rs 12,618 crore. In percentage terms, it has been fastest in 2019-20 with Delhi by 11%, Karnataka by 34% and Gujarat whopping 240%. India’s overall FDI grew by 14%. The growth in FDI in percentage terms has been the fastest.

Das said that Gujarat bagged 51% of the total of the number of IEMs filed (Large Sector Investments) in India. Besides, Gujarat is also leading in grounding domestic investment by a respectable margin. 262 foreign companies have set up in their operations between April 1, 2019 to September 30, 2019.

Das elaborated Gujarat aims to further attract global investors and hence a series of reforms have been taken into labour, power, land approval. Das said: "We are reaching out to companies which are likely to exit from China and are working closely with various embassies to bring them to Gujarat. We have already started discussions with trade organizations of concerned countries to understand the support that they need to set up operations in the state."

He added, “We are coordinating with various state-based trade organizations to help international players find a JV partner where needed.” This eases the entry process for companies and thereby resulting in a faster realization of investment intention.

The state will monitor each investment intention closely. Key sectors where investment has been realized are automobile, heavy industries, chemicals and petrochemicals, pharmaceuticals, and services sector.