Registering a 55% increase in the FDI inflow during FY 2023-24 as compared to the inflow during FY 2022-23, Gujarat received a whopping $7.3 bn in FY 2023-24
FinTech BizNews Service
Mumbai, July 05, 2024: As per the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, Government of India, Gujarat topped the chart in the annual increase in FDI inflow during FY 2023-24 by recording a jump of $2.6 bn.
Registering a 55% increase in the FDI inflow during FY 2023-24 as compared to the inflow during FY 2022-23, Gujarat received a whopping $7.3 bn in FY 2023-24 as compared to the $4.7 bn received in the FY 2022-23. With the FDI inflow of $7.3 bn, Gujarat moved ahead of Karnataka and Delhi to reach the second spot in the country.
Aligned with Prime Minister Shri Narendra Modi's vision of Viksit Bharat, Chief Minister Shri Bhupendra Patel has enacted numerous industry-friendly policies and decisions, leading to significant positive outcomes in the state. Gujarat has shown a consistent growth in attracting FDI for three consecutive financial years by securing investments of $2.7 billion in FY2022, $4.7 billion in FY2023 and $7.3 billion in FY2024.
Speaking about the consistent performance of Gujarat in attracting FDI inflow, Shri Balvantsinh Rajput, Minister of Industries and Mines, Govt. of Gujarat, said, *“Under the guidance of Hon'ble Prime Minister Shri Narendra Modiji, our Chief Minister Shri Bhupendrabhai Patel is ensuring that every possible mechanism that facilitates investment and business is in place ranging from state-of-the-art industrial infrastructure to business-friendly government policies. Due to the dedicated efforts of the Prime Minister and the Chief Minister, Gujarat is also attracting significant investment in the emerging industrieslike semiconductor and other promising sectors.”*
