Industrial Policy Promotion

The Gujarat government's industrial policy, launched in August 2020 with an aim to provide Rs 40,000 crore in subsidies to industries over five years, is a reflection of its commitment to make the state a global business destination, stakeholders have said. The policy, valid for a period of five years since its launch, promises an average annual outlay of Rs 8,000 crore, indicating substantial support for industries, they said ahead of the 10th edition of the Vibrant Gujarat Global Summit to be held from January 10-12, 2024, in Gandhinagar. The summit is a forum for business networking, knowledge sharing and strategic partnerships for inclusive growth and sustainable development. The state's industrial policy has been well on target to achieve its mission to promote entrepreneurship and innovation by inclusive and balanced regional development, world-class infrastructure, and initiatives aimed at easing the business environment and export competitiveness. This is a reflection of th

Fresh investment intents attracted by states recorded a slump of 27.8 per cent to Rs 1.33 trillion in the April-June quarter of this fiscal. In the comparable period of 2017-18, investment intents were valued at Rs 1.70 billion.The quantum of investment proposals filed also declined from 543 to 460 in the period under review, data by the Department of Industrial Policy & Promotion (DIPP) showed. The average investment per proposal fell eight per cent to Rs 2.89 billion from Rs 3.14 billion. Gujarat continues to be the top state in drawing investments followed by Rajasthan and Punjab. Between them, the top three states had nearly 65 per cent share of the overall investment intents.Investment proposals are considered to be a key barometer of economic resurgence. However, going by the slack progress in fresh investment proposals received by states, the pick-up in economy still seems sluggish. Overall investments have been stressed in the last three years with the gross fixed capital