CM Bhupendra Patel: “Gujarat Aims To Become USD 500 Billion Economy By 2026–2027

“Gujarat will play a pivotal role in realising Prime Minister Narendra Modi’s vision of ‘Viksit Bharat @2047’,” Patel said.

Written by Shivanshi Srivastava January 9, 2024

According to Gujarat Chief Minister Bhupendra Patel, his government has set a goal to grow the economy to USD 500 billion by 2026–2027 and contribute 10% of India’s GDP. As per PTI, “Gujarat will play a pivotal role in realising Prime Minister Narendra Modi’s vision of ‘Viksit Bharat @2047’,” Patel said.

In an interview with PTI before the inauguration of 10th Vibrant Gujarat Global Summit by PM Modi on Wednesday, Patel stated that Gujarat, which makes up 5% of the nation’s population, currently contributes 8.3% of the country’s GDP. Gujarat contributed to 33% of India’s total merchandise exports last year.

According to PTI, 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.

What did CM Patel say?

“With five 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 USD 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 USD 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.

“In this journey of last 20 years, Gujarat has witnessed a 16-fold increase in the GSDP from USD 17.7 billion in 2002-03 to USD 282 billion in 2022-23,” he said.

Aim of 10th Vibrant Gujarat Summit 2024

The CM further said that 10th Vibrant Gujarat Summit 2024 has an aim of reaching every corner of the state to align with the themes of G20 and other national priorities.

With agency inputs

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