Gujarat, the gateway to India: fact or farce?

[Lankan Ranger]

Gujarat, the gateway to India:
fact or farce?

Going by the Gujarat government’s figures, memorandums of understanding (MoUs) for Foreign Direct Investments (FDI) worth $876 billion were signed during its five biannual Vibrant Gujarat Global Investors Summits from 2003 to 2011 and a whopping 84 per cent of the projects have already been implemented or are under implementation.

Interestingly, after the 2013 Vibrant Gujarat Global Investors Summit, the government chose not to give out any MoU numbers when Chief Minister Narendra Modi declared that, “Gujarat is now the gateway to India.”

But, as it were, the latest figures of FDI inflows for the financial year 2012-13 up to January this year indicate that Gujarat ranks sixth in the country with Rs. 2,470 crore or 2.38 per cent share.

Maharashtra continues to top the FDI numbers with FDI of Rs. 40,999 crore or 40 per cent, followed by Delhi, Tamil Nadu, Andhra Pradesh and Karnataka.

Gujarat was slightly ahead of West Bengal in 2012-13, which got FDI of Rs. 1,934 crore.

In fact, Gujarat’s share in the FDI kitty has been heading southward during the last three financial years from 3.38 per cent (Rs. 3,294 crore) in 2010-11, 2.85 per cent (Rs. 4,730 crore) in 2011-12 to 2.38 per cent (Rs. 2,470 crore) now. These numbers contradict the State government’s claim that Gujarat had bucked the worldwide overall economic downturn to become the engine of India’s growth.

It is an open fact that Gujarat’s FDI numbers have always been the same or lower through the years.

Reserve Bank of India’s FDI figures encompassing the decade of 2000 to 2011 reveal that while Gujarat received just about $7.2 billion in FDI, Maharashtra got $45.8 billion and Delhi over $26 billion. Even Karnataka and Tamil Nadu, with a $8.3 billion and $7.3 billion share, got a larger piece of the national FDI pie.


Gujarat, the gateway to India: fact or farce? - The Hindu

 

[Icewolf]

Gujarat is a diamond in a sea of darkness.
I wish well for Gujarat

 

[Lankan Ranger]

Gujarat, the gateway to India: fact or farce?

 

[Kazhugu]

Some comments from the article.......

I'm a common Gujarati village man and today in my village I've been able
to enjoy uninterrupted electricity and nice roads along with other basic
necessities. I've also been to other states of India. All I can say is
Gujarat is definitely doing well under Modi rule. I'm not a big fan of
BJP but I'm impressed with Modi style, and if he gets a chance to work
in central, I'm sure India will see a better change. Looking at current
leaders of India, Modi strongly deserves a chance to change India.

Plz check out the way FDI is calculated before posting such stories. The head offices of big MNCs are in Mumbai, delhi, Kolkata etc. When they invest in Gujarat, they have to route their money through their head offices in these states and thus, what you see is that FDI of these states is higher while actual investment is taking place in Gujarat. This information might not be the most accurate but I am very much certain that "The Hindu" is wrong and adequate checks are not done before publishing this story. FYI, I am neither a Gujarati or a BJP activists. I am teling what I read somewhere in a different article. Pls verify your stats again.

 

[Android]

Jai Maharashtra!!!

 

[kaykay]

well Gujarat contributes 19% of total Industrial output of India....so without domestic/foreign investment Its not possible.....

 

[eddieInUK]

can anybody give more details? how they are developing, I can put some comparison with provinces in China.

 

[Backbencher]

Gujarat is a diamond in a sea of darkness.
I wish well for Gujarat

Name a few dark places in the sea

 

[Icewolf]

Name a few dark places in the sea

The country that Gujarat is in.

 

[Chinese-Dragon]

can anybody give more details? how they are developing, I can put some comparison with provinces in China.

Gujarat's economy: India's Guangdong | The Economist

Gujarat is the province in India that focuses the most on industry and exports, so similar to our economic model.

(With only 5% of the national population, Gujarat creates 16% of all industrial output and 22% of all exports in India).

 

[Koovie]

The country that Gujarat is in.

The country you are talking about is the 10th largest economy by GDP, the 3rd largest by PPP, growing with +5% despite a global recession and virtually no big ticket reforms for years, a top FDI destination, home to one of the largest middle classes, BRICS member, G20 member etc etc etc....

Better take care of the problems of your own country @Icewolf and stop crying around like a little kid, cause it does not look very good .

And when ever I presented you facts, you got pissed off and just started to ignore the threads.... remember your epic trolling about Indias +100 billion USD infrastructure spending???

 

[MST]

Gujarat, the gateway to India:
fact or farce?

Going by the Gujarat government’s figures, memorandums of understanding (MoUs) for Foreign Direct Investments (FDI) worth $876 billion were signed during its five biannual Vibrant Gujarat Global Investors Summits from 2003 to 2011 and a whopping 84 per cent of the projects have already been implemented or are under implementation.

Interestingly, after the 2013 Vibrant Gujarat Global Investors Summit, the government chose not to give out any MoU numbers when Chief Minister Narendra Modi declared that, “Gujarat is now the gateway to India.”

But, as it were, the latest figures of FDI inflows for the financial year 2012-13 up to January this year indicate that Gujarat ranks sixth in the country with Rs. 2,470 crore or 2.38 per cent share.

Maharashtra continues to top the FDI numbers with FDI of Rs. 40,999 crore or 40 per cent, followed by Delhi, Tamil Nadu, Andhra Pradesh and Karnataka.

Gujarat was slightly ahead of West Bengal in 2012-13, which got FDI of Rs. 1,934 crore.

In fact, Gujarat’s share in the FDI kitty has been heading southward during the last three financial years from 3.38 per cent (Rs. 3,294 crore) in 2010-11, 2.85 per cent (Rs. 4,730 crore) in 2011-12 to 2.38 per cent (Rs. 2,470 crore) now. These numbers contradict the State government’s claim that Gujarat had bucked the worldwide overall economic downturn to become the engine of India’s growth.

It is an open fact that Gujarat’s FDI numbers have always been the same or lower through the years.

Reserve Bank of India’s FDI figures encompassing the decade of 2000 to 2011 reveal that while Gujarat received just about $7.2 billion in FDI, Maharashtra got $45.8 billion and Delhi over $26 billion. Even Karnataka and Tamil Nadu, with a $8.3 billion and $7.3 billion share, got a larger piece of the national FDI pie.


Gujarat, the gateway to India: fact or farce? - The Hindu

Here is a trick question for you and Hindu. What happens to the 26 billion dollars that come to Delhi? Considering that you can't set up any Industry in Delhi and there is hardly any IT companies. Most IT companies are in NCR (which is essentially UP and Harayana). Unless someone tells me what happens of the 26 Billion that comes to Delhi this is nothing but sensationalism and propaganda.

I would also like to know the percentage of Mumbai (in Maharashtra's share).

And here is a comment from the article that most likely explains this

Delhi getting FDI of $26 billion..that should ring some bells and tell something about the way the FDI to a state is calculated. The FDI is calculated on the basis of the registered office of the companies and not where the actual investment is done..so technicall Delhi may have recieved FDI of over $26 billion..it did not generate employment or invest in Delhi...so please study properly and be more objective in your assessment..