On economy boom path

Power projects like Torrent’s own 1,130 MW SUGEN project, and the upcoming 4,000 MW ultra mega power project at Mundra will not only help ease the perennial power shortage in Gujarat...

• Power projects like Torrent’s own 1,130 MW SUGEN project, and the upcoming 4,000 MW ultra mega power project at Mundra will not only help ease the perennial power shortage in Gujarat, but also further augment its economy. Big strides are expected in the pharma sector also.

• The retail sector also shows tremendous potential in the new year as a growing urban affluent population with a bigger spending capacity offers great opportunity for a significant growth of this sector. Besides the service sector, ITES and telecommunication too are on a northward curve.

• Industry captains also see bright prospects in the development of port sector in the State. The Adanis are already running the Rs 2,200-crore Mundra Port and are in the process of developing a port-based greenfield SEZ on the 10,000 hectares of land near Mundra. This proposed SEZ, to be developed at an estimated cost of over Rs 5,000 crore, will be the largest in the country, and when completed in a phased manner, the project will generate about two lakh jobs in the next 15 years or so.

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• The State Government is also making a no-holds barred effort to promote industry development. In the new year, a comprehensive policy for agro-industries and food processing units is expected. This will give a further boost to the farm sector in Gujarat and increase economic activity particularly in rural areas. The agriculture production which was less than Rs 10,000 crore a couple of years ago, is expected to reach about Rs 25,000 crore this year.

• Other sectors that will give an impetus to the State’s economy in 2007 would be the diamond and textile industries, with Gujarat accounting for 80 per cent of India’s export in diamond and gems and jewellery. The government has already set up a gems and jewellery park near Surat, while apparel parks are being created in Ahmedabad and Surat. Three more textile parks are proposed in Ahmedabad.

• However, there is a need for the government to be more pro-active and announce a conducive land allotment and transfer policy to help private parties create adequate back-up infrastructure to boost tourism activity in the State.