Gujarat Emerges as India's Growth Engine, Surpasses National Growth Rate: Gujarat Government Reports

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Gujarat Emerges as India’s Growth Engine, Surpasses National Growth Rate: Gujarat Government Reports

| Updated: January 5, 2024 16:20

Gujarat, with a remarkable Compound Annual Growth Rate (CAGR) of 15% from 2002-03 to 2022-23, has outpaced the national average during this period, securing its position as one of the fastest-growing states in India, according to the state government.

The ‘growth engine of India’ tag has long been associated with Gujarat, and Prime Minister Narendra Modi highlighted this achievement, stating, “When we started the Vibrant Gujarat Summit two decades ago, it was our intention that the state should become the growth engine of the country’s progress.”

The upcoming 10th edition of the Vibrant Gujarat Global Summit (VGGS), scheduled between January 10 and 12 in Gandhinagar, is expected to further boost the state’s development and strengthen the nation’s economic fundamentals.

Contributing around 8% to India’s Gross Domestic Product (GDP) at Rs 22.61 lakh crore, Gujarat’s economic growth has consistently outpaced other states. Economist Hemant Shah noted, “Gujarat’s GDP growth rate was higher than the GDP growth rate of India,” making it an attractive destination for investments.

In terms of sectoral contributions, the manufacturing sector plays a significant role, contributing approximately 36.7% to Gujarat’s GSDP, as per official data for the financial year 2021-22.

Sachin K Patel, Executive Committee member of Gujarat Chamber of Commerce & Industry (GCCI), attributed the growth of the Micro, Small, and Medium Enterprises (MSME) sector to the state’s business-friendly policies, stating, “Thanks to the business-friendly policies of the state government, more and more MSME units are being set up in the state.”

This economic growth has translated into improved employment opportunities and living standards for workers, as indicated by a government release. Gujarat’s labor force statistics for the year 2020-21, based on the Periodic Labour Force Survey (PLFS), reflect a Labor Force Participation Rate of 44.3%, Worker Population Ratio (WPR) of 43.3%, and an unemployment rate of 2.2%, the lowest among major industrialized states.

The state’s growing economy has also facilitated advancements in the social sector, particularly in education and health. Primary health centers (PHCs) and community health centers (CHCs) have witnessed substantial growth, and the state now boasts over 30 medical colleges, compared to only nine in 2001.

Dr. Nilam Patel, additional director of the health department, highlighted the success of the ‘Cataract-mukt Abhiyan’ (cataract-free mission), initiated by Chief Minister Bhupendra Patel. The state conducted 8 lakh cataract operations, successfully treating 19,000 patients with cataracts in both eyes.

Education has seen significant improvements over the past two decades, with a notable decrease in the dropout rate in elementary schools and between standards I and VIII. The Vidya Samiksha Kendra (VSK), established in 2019, has been recognized as a Global Best Practice by the World Bank, receiving praise from Prime Minister Modi during his visit in April 2022. The VSK model is now recommended for replication by other states to enhance education outcomes.

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