GUJARAT

1. Gujarat’s Record-Breaking Growth: In September 2024, Gujarat witnessed an unprecedented surge in equity investments, adding a staggering 3.02 lakh new investors, marking a 135% growth from August. This remarkable feat propelled Gujarat to the top spot, surpassing Uttar Pradesh and Maharashtra, which have traditionally been the leading states in investor registrations.

2. A Shift in Investment Landscape: This surge in Gujarat’s investor base signifies a significant shift in the country’s investment landscape. The state’s residents, known for their entrepreneurial spirit and business acumen, are now actively embracing the equity market, driven by a combination of factors including lucrative IPO opportunities and the fear of missing out (FOMO).

3. The Allure of IPOs: The calendar year 2024 has witnessed a boom in the primary market, with companies raising a record-breaking Rs 1 lakh crore through IPOs. This has created a wave of excitement among investors, particularly in Gujarat, who are eager to capitalize on the potential for listing gains.

4. Gujarat’s Strong Performance in Perspective: Gujarat’s achievement is even more impressive when considering its population size. With a population of 7.11 crore, Gujarat’s investor growth surpasses that of Uttar Pradesh (23.70 crore) and Maharashtra (12.7 crore), highlighting the state’s remarkable appetite for equity investments.

5. A Bullish Trend Across India: The surge in new investors is not limited to Gujarat. September 2024 saw a robust 11.6% jump in new investor registrations across India, indicating a positive and optimistic sentiment towards the stock market.

6. Maharashtra Remains the Heavyweight: While Gujarat made headlines with its impressive growth, Maharashtra continues to hold the largest investor base in the country, boasting 1.7 crore registered investors, accounting for 16.7% of the national total.

7. A Promising Future for the Indian Stock Market: The surge in investor participation, particularly in Gujarat, signals a promising future for the Indian stock market. As more individuals embrace equity investments, the market is poised for continued growth and development, fueled by a growing investor base and a thriving primary market.

Prime Minister Narendra Modi’s visit to Gujarat on Monday marks a significant milestone in India’s journey towards self-reliance and technological advancement. Here are the key highlights of his visit:

1. A Leap in Defense Manufacturing:

The inauguration of the Tata Aircraft Complex, a joint venture with Spain, signifies a major step in India’s defense manufacturing capabilities. This facility will produce the C-295 military aircraft, marking the first private sector Final Assembly Line (FAL) for military aircraft in India. This project will create a complete production ecosystem, from assembly to maintenance, and involve various Indian companies, including Bharat Electronics Ltd., Bharat Dynamics Ltd., and numerous MSMEs.

2. Strengthening Infrastructure for Growth:

PM Modi’s visit will also focus on bolstering infrastructure across Gujarat. He will dedicate the Bhuj-Naliya Rail Gauge Conversion Project, a crucial development for Kachchh’s socio-economic growth. Additionally, road infrastructure projects, including the four-laning of sections on NH 151, NH 151A, and NH 51, as well as the Junagadh bypass, will be inaugurated, enhancing connectivity and facilitating trade.

3. Ensuring Water Security:

Water supply initiatives worth ?700 crore will be launched in Amreli, including the Navda to Chavand bulk pipeline, ensuring water security for residents across Botad, Amreli, and surrounding districts. The Pasavi Group Augmentation Scheme Phase 2 in Bhavnagar will further strengthen water supply to 95 villages.

4. Fostering Sustainable Tourism:

PM Modi will lay the foundation for transforming the Karli Recharge Reservoir at Mokarsagar in Porbandar into an eco-tourism destination. This initiative will promote sustainable travel options and enhance the region’s tourism potential.

5. A Vision for a Brighter Future:

The inauguration of the Tata Aircraft Complex, coupled with the focus on infrastructure development, water security, and sustainable tourism, reflects PM Modi’s vision for a prosperous and self-reliant India. This visit signifies a commitment to progress and a brighter future for Gujarat and the nation as a whole.

Here’s why this decision is a landmark for environmental conservation:

• Charitable Recognition: The Gujarat Authority for Advance Ruling (AAR) recognized the mangrove afforestation project as a “charitable activity,” paving the way for similar environmental initiatives to seek GST exemption.
• Beyond Business: The AAR acknowledged that VCD’s activities are not profit-oriented, thus not qualifying as “business” under the GST Act.
• No “Supply” Involved: The project doesn’t involve a “supply” for consideration, a key factor for GST applicability. This emphasizes the non-commercial nature of the project.
• Public Welfare Focus: The AAR recognized the project’s “public welfare” objective, highlighting the importance of environmental conservation for the community.
• Economic and Social Benefits: The project is expected to generate significant employment opportunities, benefiting local communities and improving livelihoods.
• Sustainable Livelihoods: The mangrove project promises to enhance fishing grounds and fodder availability, ensuring sustainable livelihoods for coastal communities.

This decision marks a significant step towards recognizing the crucial role of environmental conservation in societal well-being. It sets a precedent for future initiatives, encouraging more organizations to prioritize environmental protection and sustainable development.

A small village in Gujarat’s Kutch district, Madhapur stands as a testament to the power of hard work, financial prudence, and community spirit. With an astonishing INR 7,000 crore in fixed deposits, Madhapur has earned the title of Asia’s richest village.

Here are the key factors contributing to Madhapur’s remarkable wealth:

1. A Culture of Saving and Investment:

• The people of Madhapur, particularly the Patel community, have a strong tradition of saving and investing.
• They prioritize financial independence and security, leading to significant savings, with an average of INR 22 lakh per household in fixed deposits.

2. The Power of NRIs:

• A large number of Madhapur residents have migrated to countries like Australia, the US, and the UK.
• These NRIs, engaged in various businesses, consistently send substantial remittances back to their village.
• This influx of foreign currency has significantly boosted Madhapur’s economy.

3. A Thriving Financial Hub:

• Madhapur boasts 17 banks, including major national players, reflecting the substantial financial activity in the village.
• This financial infrastructure further strengthens the village’s economic foundation.

4. Investing in Infrastructure and Development:

• The wealth generated has been channeled into improving the village’s infrastructure.
• Madhapur enjoys good roads, clean water, parks, proper sanitation, and well-equipped schools and temples.

5. A Global Connection for Rural Growth:

• Madhapur’s story highlights the potential for rural areas to thrive through global connections.
• The village’s success demonstrates that wealth is not confined to urban centers.

6. The Importance of Community:

• The strong sense of community in Madhapur is a crucial factor in its success.
• NRIs not only send money but also choose to deposit it in local banks, demonstrating their commitment to the village’s prosperity.

Madhapur’s story is a powerful reminder that with hard work, financial discipline, and a strong sense of community, even small villages can achieve remarkable prosperity.

The will set up a migrant labour assistance centre at Surat in Gujarat.

The assistance centre will help migrant labourers from the state to seek redressal of various grievances and issues and ensure their safety and welfare at their workplaces, officials said. The government approved the proposed centre in Surat in October. The centre will be similar to existing facilities in Andhra Pradesh and Telangana.

Just as the has begun several rounds of meetings to draft its own law mandating CCTV installation at all premises – cameras facing streets and providing its live feed to local Police, Gujarat’s Home department had prepared its detailed manual in 2018 — the Safe and SecureGujarat(SAS-Guj) project manual citing the depth of CCTV surveillance which aims at controlling crime.

The manual provides for integrating all live feeds from Internet protocol (IP) based cameras across the state to a central data farm where a powerful Artificial Intelligence (AI) based video analytics program will process the video feed and conduct 15 primary tasks apart from traffic offences,eGujcop, ‘Vahan’ and ‘Sarthi’that is mandated.

The SAS-Guj manual mandates that the AI program analysing the video feeds to conduct attribute search – collect all images or footage of objects, vehicles based on colour or make or registration across all video feeds for any given time frame.
Then specific functions like overcrowding, loitering, intrusion detection, abandoned object detection and even suspicious movements too will be reported by the AI program.

The state government is also mulling over aPPPmodel where the home department may partly fund CCTV installation in societies. The Gujarat law currently being drafted keeps two existing state laws in reference- the Karnataka Public Safety (Measures) Enforcement Act, 2017 and a similar law for Andhra Pradesh enacted in 2013.

Gujarat currently has an Oxygen manufacturing capacity of at least 1,000MT, according to sources. A majority of this is diverted towards industrial consumption. In routine times, the medical consumption of oxygen is barely 50MT in a day.
The new Plants that are being commissioned include 392 being set up by the government and the remaining by private sector.

Farmers are paid between Rs 680 and Rs 710 per kg of fat as the procurement price by the dairies, according to GCMMF officials.

The Average milk procurement price remained stable throughout the country in the pandemic year, according to the data tabled in Parliament.
Even in the pandemic year, milk procurement continued to grow in Gujarat, as has been the case for a couple of decades. Collectively, the countrys largest co-operative handled 40 lakh litres of milk per day (LLPD) extra during the pandemic.

Gujarat, the state that led the way in solar power adoption in India, has secured the third position in terms of cumulative large-scalesolar installationsin the country.

Notably, Gujarat experienced an impressive 85% increase in such installations during the first quarter of 2023, while solar installations across India declined by 30% during the same period, according to the India Solar Market Update 2023 report by Mercom India.

Between January and March 2023, Gujarat witnessed 261 megawatts (MW) of solar installations, compared to 141MW in the previous quarter. Since Q1 2022, Gujarat has consistently ranked as the third-highest state for large-scale solar capacity addition, with an impressive quarter-over-quarter increase of nearly 85% in Q1 2023.

Furthermore, experts credit Gujarat’s rise in installation rates to its favourable policies and aggressive push for RENEWABLE ENERGY adoption.

Pan-India solar installations declined due to commissioning deadlines for several large-scale projects being postponed to the following year. Out of the total 1.9GW of solar installations in India during the January to March 2023 quarter, Gujarat accounted for 19% of new installations, trailing behind Karnataka (21%) andRajasthan(42%).