Ahmedabad: Over the past three fiscal years, Gujarat attracted Rs 14 lakh crore in fresh investments, a report by the

MSME Export Promotion Council

stated. The report titled ‘Gujarat- Investment, Growth & Development 2020-21 to 2023-24' indicated that projects worth Rs 1.89 lakh crore were completed between 2021-22 and 2023-24.
Data from the Centre for Monitoring of Indian Economy (CMIE) showed that new investment projects in 2021-22 were valued at Rs 5.68 lakh crore, while in 2022-23 it was Rs 2.04 lakh crore and Rs 6.28 lakh crore in 2023-24. The projects completed during these periods were worth Rs 32,260 crore, Rs 74,269 crore, and Rs 82,798 crore, respectively.
D S Rawat, chairman of the MSME Export Promotion Council, said, "During 2023-24, total investment projects outstanding were worth Rs 26.87 lakh crore, with Rs 14.48 lakh crore under implementation, and pending projects worth Rs 17,676 crore were revived. Exports from the state in 2023-24 were Rs 11.14 lakh crore, compared to Rs 12.02 lakh crore in 2022-23."
He noted that Gujarat emerged as a preferred investment destination for international investors, owing to its robust infrastructure, skilled workforce, and sound fiscal policies. The state's governing bodies are now responsible for developing and executing policies that support strategic advancement as it enters a new growth phase.

The study recommended that policies should concentrate on identifying profitable markets, supporting micro, small, and medium enterprises, fostering entrepreneurship, and advancing sustainable manufacturing practices.
The state's MSMEs play a vital role in bolstering the local economy, with approximately 11.26 lakh registered units representing 7.5% of the national total of 1.48 crore. Nevertheless, the study pointed out that numerous micro and small units face survival challenges due to issues related to technology, market access, and financial resources.