Vibrant Gujarat Global Summit: State Sets Target To Become $500 Billion Economy By 2026-27, Says CM

The 10th Vibrant Gujarat Global Summit will be inaugurated by Prime Minister Narendra Modi on Wednesday

Gujarat Chief Minister Bhupendra Patel reviews the pre-preparations of various programmes to be held under the chairmanship of Prime Minister Narendra Modi under Vibrant Gujarat Global Summit.

Source : PTI

Gujarat has set a target to contribute 10 per cent to India's GDP and become a $500 billion economy by 2026-27. According to PTI, Gujarat Chief Minister Bhupendra Patel has said his government has set this target as the state, with 5 per cent the country's population, contributes 8.3 per cent to the national Gross Domestic Product (GDP). In the previous year, Gujarat accounted for 33 per cent of India's total merchandise exports, Patel told PTI ahead of the 10th Vibrant Gujarat Global Summit, to be inaugurated by Prime Minister Narendra Modi on Wednesday.

The summit will showcase Gujarat's futuristic projects and investments (DREAM City, GIFT City, Dholera SIR, Ahmedabad-Mumbai High Speed Rail), encompassing new and emerging sectors such as semiconductors, renewable energy, electric vehicles, green hydrogen, aerospace and defence, plug-and-play parks, artificial intelligence, smart greenfield cities to name a few, he said.

Apart from leading in sectors such as textiles, chemicals & petrochemicals, gems & jewellery and ceramics, Gujarat has also emerged as the hub of automobile sector, establishing itself as an economic powerhouse of the country, Patel said. "With 5 per cent of the population, Gujarat contributes over 8.3 per cent to the national GDP. In the previous year, the state accounted for a remarkable 33 per cent of India's total merchandise exports," he said.

"The strong global ties and a diversified GSDP make our economy exceptionally resilient. Our government has set a target to contribute 10 per cent to India's GDP and becoming a $500 billion economy by 2026-27," Patel said in reply to a query on what will be the contribution of Gujarat in making India a $5 trillion economy.

"Our strategic focus is concentrated on sectors that not only define the current economic landscape but also play a pivotal role in shaping the global future. The growth of the state has substantially facilitated in solidifying the concept that says, 'Gujarat means growth'," he said.

Strategic development in new and emerging sectors such as semiconductors, green hydrogen, electric vehicles, renewable energy, and the financial services industry stand as prime examples of the state's progress toward achieving this ambitious goal, the CM said.

Gujarat will play a pivotal role in realising Prime Minister Narendra Modi's vision of 'Viksit Bharat @2047', Patel said. Under the visionary leadership of PM Modi, the Vibrant Gujarat Global Summit has been a game changer for the state, the CM said. The previous nine editions of the summit have positioned Gujarat as one of the most preferred investment destination, contributing significantly to India's growth story, he added.