If you have ever considered expanding your business to India, you will possibly have heard about Vibrant Gujarat. This year Vibrant Gujarat has positioned itself as a “window” for any foreign investor coming to India and for Indians planning to locate their business in other countries. “Gujarat boasts of being one of the leading states in the manufacturing sector and is recognised as India’s growth engine. Gujarat’s MSMEs (micro small and medium enterprises) are the backbone of this growth and economic development,” said Arvind Agarwal, additional chief secretary, Industries and Mines department.
This year’s event sees Indian Prime Minister, Narendra Modi, both inaugurating and attending. So what’s all the fuss about? Well firstly, this is the 8th year that Gujarat is hosting the event. The emphasis of this years’ event is “Sustainable Economic and Social Development”.
And what’s so special about the Indian state of Gujarat? Geographically Gujarat is located on the west coast of India. With a coastline of about 1,600 km, Gujarat has one of the longest coastal areas of all the states in India. The state has always played a significant role in contributing to the financial development of India and it also doesn’t hurt that current Prime Minister, Narendra Modi has expressed his interest in developing the state into a major business and finance hub.
International firms have recognised the potential of India and in particular the state of Gujarat. The manufacturing industry contributes 41% of the state’s GDP, while agriculture and services add 13% and 46%, respectively. The beauty of Vibrant Gujarat is that it provides a great platform to connect a multitude of international and local businesses with numerous delegations from a whole host of countries being involved.
As many visitors will quickly discover, having the idea to set up operations in India is excellent however, the difficulty lies in the details. Knowing what type of permits and guidelines are required, how to go about looking for qualified staff and where to purchase machinery are just some of logistical issues that can cause delays and even fines. Industry experts such as QXCA can provide services and guidance on setting up business operations in India to make the process seamless.
We’re looking forward to a great event in Gandhinagar and we hope to catch up with a few of you there. If you would like to setup a meeting to see how we can transition your business for the Indian market email us on firstname.lastname@example.org or connect with us on twitter to meet us at the event. You can also follow us on LinkedIn or call us on +44 845 838 2672 for more information.