US tariffs, supply chain disruptions have opened new markets: Gujarat CM
Gujarat Chief Minister Bhupendra Patel views new trade agreements as beneficial for his state. He sees global supply chain disruptions as opportunities for new market exploration. Patel expressed confidence in attracting significant domestic and foreign investments to Gujarat. The state government's policy continuity and stability are key attractions for investors. Gujarat is also focusing on…
Gujarat's chief minister, Bhupendra Patel, views the recent free trade agreements (FTAs) signed by India with the UK, EU, and other countries as a positive development that will greatly benefit his state. Despite global supply chain disruptions caused by the US-Iran war and Russia-Ukraine conflict, Patel sees it as an opportunity to explore new markets and move towards green energy sources.
He is confident of attracting significant investments from both domestic and foreign industry leaders due to policy continuity and a stable government under the BJP. Patel also highlighted the positive impact of FTAs on Gujarat, noting that US and Canadian industry leaders viewed India as a promising market for semiconductors, artificial intelligence, data centers, and traditional trade.
He mentioned that the FTAs with the UK and EU would specifically benefit Gujarat, citing positive reactions from industry leaders, including non-resident Indians. Patel believes that the state's focus on green growth, such as EVs, renewable energy, and cow-dung gas, will mitigate any significant impact from supply chain disruptions.
He also praised the state's commitment to speedy, seamless approvals for projects and strong infrastructure, including road, rail, and air connectivity. The Gujarat CM emphasized the exponential growth of the MSME sector, with 27.9 lakh units registered, a substantial increase from 1.5 lakh in 2003.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
