As a run up to the seventh edition of upcoming Vibrant Gujarat Global Investors’ Summit, the state government on Thursday announced the new industrial policy, which will focus on micro, small and medium enterprises (MSME). The new policy will carry forward Prime Minister Narendra Modi’s Make in India campaign and will aim to encourage innovation and technology transfer.
In a statement released by the government, state finance minsiter Saurabh Patel said, “Owing to the progressive policy adopted by the state government, Gujarat is a frontrunner in industrial development. Between 2005 to 2013, the GDP of Gujarat has been steadily over 10%, which is over the national average. Gujarat is an MSME hub and as of March 31, 2013, the number of registered MSME units was 26,1760.”