Gujarat targets $3.5 Trillion economy by 2047, FICCI pledges support

At a special session during FICCI’s National Executive Committee Meeting (NECM), Chief Minister Bhupendra Patel emphasised Gujarat's commitment to fostering an industry-friendly environment. He highlighted state policies and initiatives designed to attract investment and promote sustainable growth.

Chief Minister Patel acknowledged the role of Prime Minister Modi's leadership in India's development, noting initiatives such as Make in India, Digital India, and Skill India as drivers of the country's economic progress. He also recognised Gujarat’s ongoing development over the past 23 years, describing the state as a "growth engine" that has successfully navigated challenges to create opportunities. 

Patel linked Gujarat’s economic ambitions to the Prime Minister's vision of a developed India by 2047, positioning Gujarat as a key contributor to this goal. He engaged with industry leaders on essential issues and shared the state government’s vision for advancing economic and industrial growth at both state and national levels. 

The Chief Minister noted Gujarat’s policy-driven approach, which he said has helped make the state a top destination for foreign direct investment. Citing significant investments in sectors such as semiconductors, green hydrogen, and renewable energy, he expressed confidence in Gujarat’s trajectory toward its 2047 economic target. Patel reiterated Gujarat’s commitment to reaching a $3.5 trillion economy by that year, describing FICCI as a valued partner in achieving this ambition.

On this occasion, Dr. Anish Shah, President of FICCI, recognised Gujarat’s significant contributions to India’s economic landscape. He noted that while Gujarat represents 5 percent of India’s population, it accounts for 8 percent of national exports, 30 percent of merchandise exports, and 40 percent of maritime cargo. He pointed to Gujarat’s consistent annual growth rate of 12 percent over several years as evidence of its role in India’s broader economic goals. As India works toward its $32 trillion economic vision by 2047, Dr. Shah said, FICCI remains committed to supporting Gujarat’s development and its goal of reaching a $1 trillion economy.

Harsha Vardhan Agarwal, Senior Vice President of FICCI, expressed appreciation for the Gujarat government’s vision and conveyed FICCI's intention to deepen its collaboration with the state in the coming years.

Rajiv Gandhi, Chair of FICCI’s Gujarat State Council and CEO & MD of Hester Biosciences, described Gujarat as a leader in industrial progress, emphasising the synergy between policy and industry in driving economic growth. He noted that this alignment supports job creation and improved standards of living, in line with Prime Minister Modi’s vision.

During the meeting, Harsha Vardhan Agarwal was named as FICCI’s President-Elect. 

The FICCI National Executive Committee Meeting brought together key industry representatives and stakeholders to discuss strategies for addressing industry challenges, advancing economic opportunities, and strengthening Gujarat’s role in the national economy.