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Updated January 1st, 2024 at 16:55 IST

Vibrant Gujarat Summit: State's investment drive poised to boost employment opportunities

The upcoming Vibrant Gujarat Global Summit, scheduled from January 10 to 12, has witnessed the signing of over 2,700 MoUs between investors and the government.

Reported by: Business Desk
Gujarat's Sector-Specific Policies Propel Business Investments
Gujarat's Sector-Specific Policies Propel Business Investments | Image:Surat
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Gujarat's unwavering commitment to economic progress is not only reflected in its flourishing economy but also in impressive employment statistics, officials affirmed. The state boasts a labor force participation rate of 44.3 per cent and a worker population ratio of 43.3 per cent across all age groups, showcasing its dedication to creating opportunities and nurturing a dynamic workforce.

Speaking at a recent function, Chief Minister Bhupendra Patel highlighted Gujarat's model for fostering employment and suggested that other states could consider adapting similar strategies to address their unemployment challenges.

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Gujarat's low unemployment rate of 2.2 per cent, significantly below the national average of 4.2 per cent, is attributed to the conducive investment environment fostered by the government, according to official data.

The upcoming Vibrant Gujarat Global Summit, scheduled from January 10 to 12, has witnessed the signing of over 2,700 Memorandums of Understanding (MoU) between investors and the state government. These agreements hold the potential to generate approximately 10.91 lakh employment opportunities, as per a government release.

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The summit provides a platform for the state to delve into critical issues related to workforce development, especially focusing on skills required for the industry 4.0 era and the establishment of global networks for skill development.

Anju Sharma, Additional Chief Secretary of the State Labor, Skill Development, and Employment Department, revealed that a seminar on January 11 during the Vibrant Gujarat Global Summit will concentrate on skilling and its role in realising Viksit Bharat@2047—the Center's vision to transform India into a developed nation by 2047.

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Another seminar will deliberate on strategies to establish globally interconnected networks for skill development, emphasising the synthesis of cutting-edge technologies, innovative pedagogy, and international collaboration to optimise human capital for the 21st-century workforce.

Saurabh Goswami, a worker at a diamond manufacturing unit in Surat, credited the Vibrant Gujarat Summit for the surge in employment opportunities. He noted the growth in the diamond industry, improved salaries, and increased work, attributing it to the state's focus on employment.

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Government data highlights a substantial increase in placement percentages, rising from 33 per cent in 2004 to an impressive 84.5 per cent in 2021, reflecting the efficacy of Gujarat's approach to employment.

Chief Minister Patel asserted that Gujarat, under the leadership of Prime Minister Narendra Modi, has become the growth engine of the country. He urged other states to consider adopting Gujarat's model to address unemployment challenges effectively.

(With PTI inputs.)

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Published January 1st, 2024 at 16:30 IST

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