The Mumbai-Ahmedabad bullet train project will help improve the partnership between Gujarat and Mumbai at the social level, Gujarat Chief Minister Bhupendra Patel said on Wednesday. The project will help infrastructure development and economic activities, but also improve the partnership on the social level, Patel said. The chief minister was speaking at an investor roadshow ahead of the 10th Vibrant Gujarat summit in Mumbai in January 2024.
Mumbai- financial capital, Gujarat- favoured investment destination
While Mumbai is the financial capital of the country, Gujarat has become the most preferred investment destination, he said. Gujarat is committed to helping India become a $5 trillion economy by focusing on crucial sectors such as semiconductor, green hydrogen, electric vehicles (EVs), pharmaceuticals, textiles and technical textiles, Patel said.
The CM, who presented the success story of Vibrant Gujarat summit to industry and financial sector leaders, said that the yearly summit had propelled Gujarats gross state domestic product from Rs1.42 lakh crore in 2003 to Rs22.61 lakh crore in 2023, while the states economy grew at a cumulative annual rate of 15% during this period.
CM held one to one meetings with 13 industry captains
The CM also held one-to-one meetings with 13 industry captains, including Tata Sons Chairman N Chandrasekaran, ITC CMD Sanjiv Puri, L&T CMD SN Subrahmanyan, Kotak Mahindra Bank MD & CEO Dipak Gupta, and P&G India & South Asia MD LV Vaidyanathan. While presenting the opportunities in Gujarat, he said that 38% of the Delhi-Mumbai Industrial Corridor passes through the state.
He said to become a $5 trillion economy, the state will have to achieve a compound annual growth rate of 14% by 2027. We will embody the theme Gateway to the Future by organising seminars and events dedicated to emerging sectors in the forthcoming Vibrant Summit, Patel added.