Gujarat contributes over 8.3% to national GDP: FM Sitharaman

Ahmedabad, April 20 (IANS) Finance Minister Nirmala Sitharaman was in Ahmedabad on Saturday where she delved into the government's transformative economic policies. She recalled the pre-2014 era of double-digit inflation and businesses relocating overseas, issues which have been effectively addressed by the current administration.

"The RBI now views the twin balance sheet problem as a positive turnaround, symbolizing our successful economic strategies," Sitharaman stated.

The Finance Minister was addressing an event hosted by the Gujarat Chamber of Commerce and Industry (GCCI), and the Western India Regional Council of the Institute of Chartered Accountants of India (ICAI), Ahmedabad Chapter, on the theme 'Samvaad – Viksit Bharat @ 2047'.

Highlighting Gujarat's significant contributions, Sitharaman spoke on the state's strategic role in attracting investments and its leadership in sectors such as textiles, chemicals, semiconductors and aerospace, placing it at the forefront of India’s economic expansion. "With only 5% of the nation's land mass, Gujarat astonishingly contributes over 8.3% to the national GDP," she noted, showcasing the state's impressive economic impact.

The FM also visited the BJP's office in the city to meet party members.

She emphasized the resilience of Indian banks following the global upheaval caused by the COVID-19 pandemic, contrasting sharply with the international banks' struggles. "Our banks have shown remarkable strength and the successful resolution of banking issues and mergers underscores the solidity of India’s financial infrastructure," she said.