Power consumption went up, economy has re-bounced: Gujarat CM

Using power consumption as the indicator, Rupani said, “I am happy to share that on August 29, 2020, our power consumption was 5% more than that consumed the same time last year. This clearly shows that the economy has re-bounced and is steadily back on growth curve.”

The USISPF is a non-profit organisation formed in 2017 with the primary objective of strengthening the US-India bilateral & strategic partnership and enabling business & governments to collaborate. The summit comes months before Gujarat is due to host the Vibrant Gujarat Global Summit next year.

Rupani also announced that a senior nodal officer would be appointed from his office to facilitate American companies to partner with Gujarat. The pharmaceutical sector saw special thrust as Rupani called upon US companies to partner with Indian companies to produce Active Pharmaceutical Ingredients (API).

He also invited financial service sector to Gujarat citing the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, which he said was the country’s “first operational smart city” and International Financial Services Centre (IFSC) offering world class infrastructure.

For the defence sector, Rupani said that while US had the expertise in defence manufacturing, Gujarat has the eco-system. “This ecosystem is supported by our aerospace and defence policy,” he said.

“For us a peaceful social environment is equally important,” said Rupani as he spoke of Gujarat having the world’s largest cricket stadium. “Just like you, we also have the Statue of Unity, standing tall on the banks of the Narmada river,” Rupani told the summit.

With keynote speakers like Prime Minister Narendra Modi, External Affairs minister S Jaishankar, Commerce & Industry minister Piyush Goyal, Finance Minister Nirmala Sitharaman, Communication & Information minister Ravi Shankar Prasad, Army chief Bipin Rawat, Amabassador to the US Taranjit Sandhu, US Vice-President Mike Pence, and US Secretary of Commerce Wilbur Ross at the summit, Rupani was the only Chief Minister from India who was invited to address the same.

“Gujarat presents great opportunities to US companies and is also developing a robust infrastructure facilities for pharmaceutical sector in the form of a Bulk Drug Park in Bharuch and a Medical Devices Park in Rajkot district,” an official release from the state government quoted Rupani as saying, while addressing the summit.

While asking US companies to partner with Gujarat to improve market access to the artisans in tribal areas through digital education, Rupani also invited companies like Cisco to partner with the government in the next wave of digital transformation.

On investment opportunities in Gujarat, Rupani highlighted the recently released new Industrial Policy of Gujarat with provisions such as relocation benefits, besides investor-friendly measures such as delinking incentives from the GST regime and land on a long-term lease.

“To promote a vibrant startup ecosystem, CM proposed a formalised startup engagement program between US and Gujarat in areas such as semiconductors, electronics and e-vehicles,” the release said.

The CM also expressed readiness for collaboration in life sciences, defence sector, petrochemicals and clean energy, besides warehousing and logistics; and pharmaceuticals and healthcare sectors.

Chief Principal Secretary to the CM K Kailashnathan and Additional Chief Secretary to the CM Manoj Das joined the CM during the virtual