Gujarat has attracted nearly Rs.8 lakh cr new investment proposals announced by the government, Indian private sector and foreign investors during the last four years (2018-19 to 2021-22), says the study jointly carried by the MSME Export Promotion Council and the knowledge firm BillMart Fintech.

The study on “growth & investment in Gujarat” jointly released here today by MSME EPC chairman D S Rawat and founder & CEO of BillMart Jigish Sonagara says the average annual gross state domestic product (GSDP) growth between 2015-16 and 2020-21 period was about 12.87% and per capita, GSDP increased at a CAGR of 14.38%.

Over 800 large industries and 4 lac micro, small and medium enterprises comprise the industrial sector and acknowledged as petroleum capital if India. the 3300 pharmaceutical manufacturing units contributes 30% of India’s total pharma sector turnover and around 28% of India’s pharma exports.  Also, contributes 72% of world’s processed diamond share and 80% of India’s diamond exports.

During the FY 2021-22, the MSME EPC chief said, as per the CMIE data the new investment projects announced were of Rs.397654.16 cr, investment projects completed were of Rs.30675.30 cr, and the revived the projects during the period were  of Rs.9727.14 cr.

The total investment projects outstanding were of Rs.1876732.65 cr and under implementation Rs.914846.44 cr. The study has underlined the need for clearances of projects on fast-track to avoid the cost-escalation.

The projects announced by government were of Rs.46671.56 cr Indian private sector Rs.350982.60 cr, and foreign direct investment of Rs.20171.70 cr during this period. However, the total government announced projects of Rs.1235880.83 cr were outstanding and under implementation of Rs.517823.09cr.

As per the national sample survey (NSS 73rd round), there are 33.87 lakh micro, small and medium enterprises (MSMEs) units in the state employing 13.71 lakh female and 47.44 lakh male people. These units representing diamond, organic and inorganic chemicals, readymade garments, marine products, dyes and intermediates, drugs & pharmaceuticals are contributing significant volume of exports of around 17% and employment.

The BillMart chief said “One of the biggest pain points of MSMEs is gaining access to affordable and timely credit, and therefore, there is need to handhold and provide a seamless experience in raising short-term working capital, unlocking trade receivables, freeing cash flows.

BillMart supported by MSME EPC has launched a “MSME- GAIN” (growth and intelligence network), with a vision to benefit one crore micro, small and medium units with 100 crore hours of knowledge up-gradation by 2024. MSME- GAIN is a new world for knowledge with the latest news, articles, videos, events, training, networking, and everything about businesses, connecting smart MSMEs for growth.