Mr.
J P Gupta, Principal Secretary (Water Supply), Government of Gujarat,
Mr.
Solly Fourie, Head of Department, Department of Economic Development
and Tourism, Western Cape Government,
Mr.
Sid Peimer, Executive Director, Cape Chamber of Commerce &
Industry,
Ladies
and gentlemen,
It’s
a matter of great pleasure for me to extend a warm welcome to the
delegates from the Indian Province of Gujarat and to you today
morning to this Seminar on Investment and Trade Opportunities in
Gujarat.
Gujarat
is one of the most developed provinces in India. With a rich tapestry
of history and culture, solid industrial base, excellent
infrastructure, progressive administration, sustained period of
robust economic growth, the famed entrepreneurship of Gujaratis (i.e.
the residents of Gujarat), world acclaimed educational and skill
training institutions and excellent resource base, including long
coast line, Gujarat has come to occupy pride of place among Indian
provinces and a prime contributor to the growth story that is India.
Gujarat
is at the forefront in implementing Government of India’s flagship
initiatives like Make In India, which promotes manufacturing and
industrialization in India, Skill India which focusses on providing
right skill set to Indians so as to feed the growth in manufacturing,
services and other sectors, Digital India which encourages increasing
the share and use of technology in processes and service delivery,
Start-Up India which seeks to reinvigorate innovation and
entrepreneurship, and several other such schemes in economic and
social sectors.
India
is currently a beacon of growth in the world. With a GDP growth rate
of 7.1% in financial year 2016 and 8.2% in the first quarter of
2018-19 financial year ending June 30, the Indian growth engine is
firing on all cylinders. Last year on October 31, World Bank in its
Ease of Doing Business global rankings ranked India at 100, up from
130, on the back of sustained business reforms over the past several
years. This is just the start. With a unified and simpler national
indirect taxation regime in Goods and Services Tax, popularly known
as GST in place since 1st
July, 2017, and a sustained economic reform and process
simplification drive, India is poised to jump several notches up in
this year’s Ease of Doing Business rankings.
Global
behemoths are smitten by the potential Indian market offers and the
confidence it’s economy inspires. Samsung opened the world’s
biggest mobile factory in India in July, Walmart became the largest
shareholder in Indian e-retail giant Flipcart in a deal worth US$ 16
billion, IKEA recently opened its first store in Hyderabad and plans
to open 18 more in next few years. These is just a snapshot of
foreign investments into India; the domestic investment scenario
remains highly enthusiastic.
Events
like the Vibrant Gujarat Global Summit which is scheduled to be
organized in Gujarat in January, 2019 have been drivers of such
growth initiatives and melting pot of the entrepreneurial energy.
With the scale this Forum has acquired, it will be safe to say that
this is the ‘mother of all business summits’ in India. I will
leave it to my colleagues to take you through its offerings in
subsequent presentations.
I
wish the delegation from Gujarat a successful trip to Cape Town and a
fruitful engagement with all you esteemed guests.
Thank
you.
