Gujarat has set a target of attracting Rs 10 lakh crore in fresh investments over the next five years under its newly launched ‘Viksit Gujarat Industrial Policy-2026’, Deputy Chief Minister Harsh Sanghavi said on Monday.
Addressing the inaugural session of the Vibrant Gujarat Regional Conference for Central Gujarat in Vadodara, Sanghavi said the state government aims to partner with industry rather than function solely as a regulator, while assuring investors of policy stability, transparency and faster execution.
“Our target is very clear. Over the next five years, we will attract Rs 10 lakh crore in new investments. Under the guidance of Chief Minister Bhupendra Patel, we will succeed in bringing these investments across different regions of Gujarat,” he said.
Sanghavi said the new industrial policy extends beyond financial incentives and focuses on entrepreneurship and inclusive growth, with special emphasis on women’s empowerment.
Under the policy, women entrepreneurs will receive an additional one per cent interest benefit over existing provisions. It also offers rental assistance of up to 75 per cent of eligible costs for five years, along with skill refresher programmes for women re-entering the workforce.
The Deputy Chief Minister said the policy includes a dedicated support mechanism for mega and ultra-mega projects involving investments of Rs 10,000 crore or more and generating around 3,000 high-paying jobs. Such projects will be eligible for enhanced incentives, including support linked to fixed capital investment.
The policy also seeks to promote the employment of persons with disabilities by providing reimbursement support to companies for a period of five to ten years.
Highlighting improvements in the state’s investment ecosystem, Sanghavi said Gujarat has significantly reduced procedural hurdles for businesses.
“In business, time is money. The Gujarat model focuses on zero red tape and faster clearances,” he said.
According to Sanghavi, industrial incentive disbursements have increased by 55 per cent over the past two years to Rs 7,888 crore. During the same period, the number of required documents has been reduced by 41 per cent, while pending files have declined by 95 per cent.
He said the government currently processes around 392 industry incentive files each day and aims to increase the number to 500 in the coming months to ensure faster delivery of benefits.
Reiterating the state’s commitment to investor confidence, Sanghavi said Gujarat has consistently delivered on its promises through transparent governance and timely implementation. He added that the Vibrant Gujarat platform has evolved beyond an investment summit into a forum that connects investors, startups and industry leaders with opportunities across the state.
Referring to Prime Minister Narendra Modi’s vision of “Viksit Bharat by 2047”, Sanghavi said Gujarat intends to play a leading role in achieving that goal.
“The engine of a Viksit Gujarat is moving ahead at full speed. Let us together build a new India, a new Gujarat and a new Central Gujarat,” he said.
He reiterated that the state government considers itself a partner to industry and remains open to feedback from stakeholders to continuously strengthen its policy framework.
(With inputs from IANS)
