Gujarat Accounts for 8.3 Percent of India's GDP: FM Sitharaman
Finance Minister Nirmala Sitharaman recently addressed a gathering in Ahmedabad, reflecting on the government's economic policies that have transformed India's financial landscape. Sitharaman highlighted the challenges faced prior to 2014, including double-digit inflation and the exodus of businesses abroad, which have since been effectively tackled under the current administration.
Speaking at an event organized by the Gujarat Chamber of Commerce and Industry (GCCI) and the Western India Regional Council of the Institute of Chartered Accountants of India (ICAI), Ahmedabad Chapter, themed 'Samvaad – Viksit Bharat @ 2047', Sitharaman underscored Gujarat's pivotal role in driving economic growth. She lauded the state's prowess in sectors like textiles, chemicals, semiconductors, and aerospace, attributing Gujarat's success to its conducive investment environment. Despite covering only 5% of India's landmass, Gujarat remarkably contributes over 8.3% to the national GDP, a testament to its economic significance.
During her visit, Sitharaman also met with members of the Bharatiya Janata Party (BJP) at their Ahmedabad office. She commended the resilience exhibited by Indian banks amidst the global turmoil induced by the COVID-19 pandemic, contrasting their performance with that of international counterparts. Sitharaman pointed out the robustness of India's financial infrastructure, evidenced by the successful resolution of banking issues and mergers, highlighting the strength of Indian banks.
Sitharaman's address resonated with Gujarat's pivotal role in India's economic narrative, emphasizing the state's remarkable contributions to the nation's GDP and its strategic positioning in attracting investments. Her remarks underscored the transformative impact of government policies in addressing economic challenges and fostering resilience in India's financial sector. Overall, Sitharaman's visit to Ahmedabad provided insights into the government's economic agenda and showcased Gujarat's economic vibrancy as a key driver of India's growth story.
