The state government has translated the Gujarat Industrial Policy 2020 into eight foreign languages, including English, in an attempt to reach out to foreign companies across the globe.
The move is expected to boost Foreign Direct Investments (FDI) inflow to Gujarat which is currently the topmost state in the country in attracting foreign investments despite the Covid-19 pandemic in 2020-21.
“We have translated Gujarat Industrial Policy 2020 in eight foreign languages,” says MK Das, Additional Chief Secretary to Chief Minister Vijay Rupani. The policy published in August 2020 has been translated to German, Dutch, Spanish, French, Taiwanese, Japanese, Korean and English.
This industrial policy was shared with Indian embassies in 43 countries. “We called up the respective Indian ambassadors in these countries and shared the translated copies with all of them. These embassies in turn talked to the industries and chambers in the respective countries,” Das told The Indian Express.
The official said the translated copies of the policy was also shared on the websites of the embassies.
“Many companies do not know much about Gujarat. They might know about India as a whole. But by translating our policy, we have been able to reach out to companies in countries where English is not very prevalent,” Das added.
Gujarat accounted for 53 per cent of the total FDI received, in the first half of the 2020-21.
Of the total USD 30 billion FDI inflow into India during the first six months (April-September 2020) of the current financial year, USD 16 billion came to Gujarat.
The state also saw a 400 per cent growth in investments during this period compared to last year.
The top sectors attracting FDI inflow are automobiles (14.5 per cent), telecommunications (11.3 per cent), services (10.2 per cent), power (8.9 per cent), cement and gypsum products (8.5 per cent) and construction (7 per cent).
According to the state government, the maximum investment during the first six months of 2020-21 has come to Gujarat from United States, Japan, South Korea and Singapore.
Apart from translating the policy document, the state government has also approached about 1,350 international companies. The government has also organised webinars with overseas firms to popularise the industrial policy and to hard-sell Gujarat as an attractive investment destination.
The industrial policy has also been translated into eight regional languages including Tamil, Telugu, Kannada, and Marathi. This has been done to attract local investments. “We have translated the policy into those languages where the states have large populations or have businesses. For instance, in a state like Tamil Nadu, not everyone will know English. If the policy is in native language, they will be able to comprehend it better,” Das said.
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