Vadodara, June 29 (IANS) Gujarat has set a target of attracting Rs 10 lakh crore in fresh investments over the next five years under its newly launched ‘Viksit Gujarat Industrial Policy-2026’, Deputy Chief Minister Harsh Sanghavi said on Monday.

Addressing the inaugural session of the Vibrant Gujarat Regional Conference for Central Gujarat in Vadodara, Sanghavi said the government would work as a partner to industry rather than merely as a regulator, while reaffirming the state’s commitment to policy stability and speedy execution.

“Our target is very clear. Over the next five years, we will attract Rs 10 lakh crore in new investments. Under the guidance of Chief Minister Bhupendra Patel, we will succeed in bringing these investments across different regions of Gujarat,” he said.

Sanghavi said the new industrial policy extends beyond financial incentives and places significant emphasis on entrepreneurship and inclusive growth.

“The best part of this policy is not just incentives. Incentives are there to support the industry. The best part of our policy is women’s empowerment,” he said.

Sanghavi said the new policy goes beyond financial incentives, emphasizing entrepreneurship and inclusive growth, particularly women’s empowerment.

He said women entrepreneurs would receive an additional one per cent interest benefit over existing provisions. The policy also provides rental assistance of up to 75 per cent of eligible costs for five years, along with skill refresher programmes for women returning to the workforce.

The Deputy Chief Minister said a separate support mechanism has been created for mega and ultra-mega projects involving investments of Rs 10,000 crore or more and generating around 3,000 high-paying jobs. These projects will be eligible for enhanced incentives, including support linked to fixed capital investment.

He also outlined measures to encourage the employment of persons with disabilities, including reimbursement support for companies for a period of five to ten years.

Sanghavi highlighted improvements in administrative processes, saying Gujarat has reduced procedural hurdles for investors. “In business, time is money. The Gujarat model focuses on zero red tape and faster clearances,” he said.

According to him, incentive disbursements have risen by 55 per cent over the past two years to Rs 7,888 crore. During the same period, the number of required documents has been cut by 41 per cent, while pending files have declined by 95 per cent.

He said the government currently clears around 392 industry incentive files daily, with a target of increasing the figure to 500 in the coming months to ensure faster delivery of benefits.

Seeking to reassure investors, Sanghavi said Gujarat offered policy certainty, transparency, and timely execution, and had a record of delivering on commitments.

He added that the Vibrant Gujarat platform has evolved beyond an investment summit and now serves as a platform to connect investors, startups, and industry leaders with opportunities in the state.

Referring to Prime Minister Narendra Modi’s vision of ‘Viksit Bharat by 2047’, he said Gujarat aims to play a leading role in achieving that goal.

Sanghavi reiterated that the state government views itself as a partner rather than a regulator and remains open to feedback from industry stakeholders to continuously improve policies.

Referring to Prime Minister Narendra Modi’s vision of “Viksit Bharat by 2047”, Sanghavi said Gujarat aimed to play a leading role in achieving that objective. “The engine of a Viksit Gujarat is moving ahead at full speed. Let us together build a new India, a new Gujarat, and a new Central Gujarat,” he said.

–IANS

mys/skp