OTHER INITIATIVES
Creating a conducive environment for investment
Prospective investors today have many alternatives to choose from amongst various locations, while contemplating on investment proposals. With sales tax incentives no longer a weapon available to attract investment, it is imperative that the State should strive to create the most conducive environment by offering what the investor wants. In the present time, the industries go to a state, which offer them the most competitive advantages in global terms and the comfort level. Every state will have different USPs and Gujarat would therefore, identify its unique features and formulate the marketing strategy around them. In addition, the state will identify the pockets where quality investment could be attracted for sustained progress. The state will aggressively undertake marketing campaigns. Again, since the subject of industrial development is multi-disciplinary in nature, the State would sensitise all the concerned departments to positively respond to the genuine needs of the industries. As far as the comfort level is concerned, Gujarat has already constituted a high-powered Gujarat Industrial Promotion Board under the Chairmanship of Hon’ble Chief Minister to grant clearances in the form of a single window mechanism to large projects. This mechanism will further be strengthened with the cooperation of all the departments of the Government and eventually single window clearance mechanism would be introduced for all the projects. Gujarat is famous for facilitating assistance to new investors coming for investment in the State. This handholding approach will continue to be vigorously followed to ensure smooth and hassle-free fructification of project proposals in the times to come.
Promotion of investment from NRIs and Foreign Direct Investment
The state realizes the importance of attracting investments from non-resident Indians as well as multinational companies. This would help the state in improving the technological standards in the industry through technology transfer, enhancing exports, introduction of latest manufacturing practices, development of infrastructure and generation of employment opportunities.
At the same time, the Government also appreciates the problems and concerns of the NRIs when they invest in the state. Basically, they expect the state to provide them additional comfort. For the purpose, the Government is exploring various options that would meet the aspirations of the NRIs and the needs of the state. In order to bridge the gap between the self-actualisation needs of NRIs and the development requirements of the state, the Government is considering to set up an Non-Resident Investment Trust Bank after obtaining necessary approvals from Government of India and Reserve Bank of India.
Keeping in view the competitive advantages the state of Gujarat enjoys and based on the analysis of the product-country matrix, the Government of Gujarat for attracting the investment will make concerted efforts including organizing conventions and sponsoring visits of high level delegations of Government officers abroad from time to time.
Port-led Development
Gujarat offers longest coastline of 1600 kms in the country, currently dotted with 41 ports, of which Kandla is a major port. The State Government is developing 10 ports at Greenfield locations. In order to harness the potential of such a long maritime border to effectively establish international trade linkages, Government have decided to assist the process of port-driven industrialization in the state. For the purpose, infrastructure facilities in the form of road connectivity, rail connectivity, airport connectivity etc. with ports are planned to be developed, apart from upgradation of port infrastructure at the existing port locations. Plans are also afoot to develop product specific jetties at some locations for the products, which are manufactured in abundance in the State and enjoy good export potential. Further, the state will also undertake exercise to study the requirements of port development on regional basis to cater to the requirements of hinterland traffic. In addition, industrial estates and SEZs are also planned at some of the important port locations.
Regional Development
In order to fulfill the aspirations of the people and to spread the benefits of industrialization in the far-flung areas of the state especially when the waters of Narmada started flowing in various parts of the state, the Government has decided to develop three economic corridors in the state. These corridors include the areas falling along Bharuch-Dahej-Umbergaon, Vadodara-Mehsana-Palanpur and Surendranagar-Rajkot-Morbi-Kandla. For the purpose, the Government plans to commission reputed consultants to compile potentiality study reports very soon. The broad objectives of the studies include: the assessment of natural resources, existing infrastructure available, present status of industrialization, additional infrastructure facilities required for further development, identification of new sectors for industrial investment, policy interventions required in accordance with the potential of each corridor and an action plan to attract industrial investment in the regions along these corridors. The Government plans to aggressively market the potential of these corridors to the investors all over the world, which in turn, will raise the economy of the areas covered.
Other Studies
Apart from this, the Government will also commission studies for the following:
- Study on Fisheries Development
- Study on Tribal Areas from the point view of empowerment of tribals in increasing employment opportunities in their respective areas.
- Comprehensive study on Kutch for development.
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