Gujarat - the melting pot of various cultures (corporations too!)

IIPM makes business education truly global (Print Version)

The state which contributes 20% to manufacturing, 14% to exports and 30% to stock market capitalisation is certainly the edifice of economic activity in the country. But it’s the forward looking policies along with the world class infrastructure that makes it one of the most preferred investment destinations says neha saraiya...

Gujarat - the melting pot of various cultures (corporations too!) - is enough to make a person succumb to its formidability. Where else can you find a vibrant culture assorted with equally mammoth enterprises like Essar, Arvind Mills, Reliance Industries and Amul? Well, not only industries, this land of festivals (more than 3,500 being celebrated every year) has also been bestowed with a rich flora and fauna that only few states in the country can boast of. These, in all, are reasons enough to find it a place among the top three Best Marketed States in this exclusive 4Ps B&M and ICMR Survey 2008.

Starting from the densely wooded Dang forest in the Sahyadri’s to Gir (the last abode of the majestic Asiatic lions), Gujarat has it all to lure a vigorous traveller. How can one forget the famous Garba dance that has now become an integral part of Navratra celebrations anywhere across the country? Certainly, all this has made tourism as one of the most flourishing industry in Gujarat contributing about 2.5% to its GDP. This indeed triggers up a razzmatazz of decisive agendas of the government’s vision of forming investor friendly policies along with a favourable environment for tourists. As Kingshuk Bishwas, Marketing Manager, Tourism Corporation of Gujarat says, “We just held ‘Ranotsav’ (Festival of Dessert) at Kutch where we received overwhelming response from corporate investors. Besides this, Vibrant Mahotsavs are a regular hit. We are also in a process to provide more incentives to corporate investors.” And as sincere efforts are always paid off, the state too attracted over 12.34 million tourists (FY 2007). Surely it’s a huge pie for investors to grab from!

What draws investors to Gujarat apart from tourism are special economic zones (SEZs). With a great incentive policy under which any industry can invest in the state, Gujarat is expected to engross one-third of country’s total value of export from SEZs by 2009. This is certainly a huge jump from its current share of 20% in the country’s total SEZ export turnover. “Exports from Gujarat SEZs are estimated to reach up to Rs.350 billion by the end of next fiscal year,” says Ravi Saxena, Development Commissioner, Kandla SEZ.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)