Gujarat FDI Jumps 55%, Hits $7.3 Billion in FY 2023-24

Foreign Direct Investment (FDI) in Gujarat surged by 55% in the fiscal year 2023-24, reaching .3 billion. This growth places Gujarat as the second-highest FDI recipient in India, trailing only Maharashtra. The increase is attributed to strategic initiatives and business-friendly policies under Prime Minister Narendra Modi and Chief Minister Bhupendra Patel. Key factors include the development of industrial areas such as GIFT City and Sanand GIDC, major projects like microchip factories, and sector-specific policies in IT, semiconductors, and green energy. These efforts have significantly enhanced Gujarat's appeal to foreign investors.