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Abstract

The Indian State of Gujarat over the centuries has been a center for business and trading activity blessed with fortuitous mix of geography-vast coast line of 1600 km dotted with small ports and home for many entrepreneurial business houses and a spirited populace. Since the time it was carved out of erstwhile Bombay State in 1960, the State transformed itself into India’s most prosperous and business friendly investment destination, ably supported by the widespread global Gujarati Diaspora and a string of successive proactive governments. The State of Gujarat that endured 50 years saga of pain and gain rose like a phoenix out of ashes to emerge stronger and become a beacon of hope for the rest of the Indian States to emulate attracting hordes of domestic and international investments. Despite several obstacles and controversies surrounding its current political leadership, the State was able to stem red tape and corruption and take advantage of economic reforms to attain a double-digit average growth rate. For the past decade 2001-2010, Gujarat streamlined and rationalised several procedures with the help of technology and disciplined bureaucracy to attract both domestic and foreign investment. In January 2011, the State decided to focus on branding itself as a global business hub and garnered about INR 20.83 trillion investment proposals generating about 5.2 million jobs. The case facilitates a discussion on factors that are needed to leapfrog to a higher growth trajectory to perform, comparable to other global business hubs like Davos, Singapore or Dubai and improve the living standards of all sections of the society in the State, besides creating an inclusive growth environment.
Location:
Industry:
Other setting(s):
2010-2011

About

Abstract

The Indian State of Gujarat over the centuries has been a center for business and trading activity blessed with fortuitous mix of geography-vast coast line of 1600 km dotted with small ports and home for many entrepreneurial business houses and a spirited populace. Since the time it was carved out of erstwhile Bombay State in 1960, the State transformed itself into India’s most prosperous and business friendly investment destination, ably supported by the widespread global Gujarati Diaspora and a string of successive proactive governments. The State of Gujarat that endured 50 years saga of pain and gain rose like a phoenix out of ashes to emerge stronger and become a beacon of hope for the rest of the Indian States to emulate attracting hordes of domestic and international investments. Despite several obstacles and controversies surrounding its current political leadership, the State was able to stem red tape and corruption and take advantage of economic reforms to attain a double-digit average growth rate. For the past decade 2001-2010, Gujarat streamlined and rationalised several procedures with the help of technology and disciplined bureaucracy to attract both domestic and foreign investment. In January 2011, the State decided to focus on branding itself as a global business hub and garnered about INR 20.83 trillion investment proposals generating about 5.2 million jobs. The case facilitates a discussion on factors that are needed to leapfrog to a higher growth trajectory to perform, comparable to other global business hubs like Davos, Singapore or Dubai and improve the living standards of all sections of the society in the State, besides creating an inclusive growth environment.

Settings

Location:
Industry:
Other setting(s):
2010-2011

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