Vadodara poised to attract fresh investments, generate employment across emerging sectors: Industry leaders
Industry leaders also said India will have to vastly expand its manufacturing base and seize the global China+1 opportunity if it hopes to become a $30-trillion economy by 2047.
The industrialists were speaking at a media roundtable organised by the Confederation of Indian Industry (CII), Western Region. (Express Photo) With a “strong industrial ecosystem”, skilled workforce and entrepreneurial culture, Vadodara is well-positioned to attract fresh investments and generate employment across emerging sectors, industry leaders said on Wednesday.
They were speaking at a media roundtable organised by the Confederation of Indian Industry (CII), Western Region.
Industry leaders also said India will have to vastly expand its manufacturing base and seize the global China+1 opportunity if it hopes to become a $30-trillion economy by 2047, pointing out that the country’s next phase of growth would not be driven by agriculture alone.
Milon Nag, Deputy Chairman of CII Western Region and Chairman & Managing Director of K K Nag Ltd, said Vadodara continues to play a pivotal role in Gujarat’s industrial economy and remains one of the state’s most important manufacturing centres.
“Vadodara’s industrial strengths, skilled workforce and entrepreneurial culture provide a strong foundation for future growth. Closer cooperation between industry and government can create greater opportunities in manufacturing, innovation and sustainable development,” Nag said.
With more than 20,000 MSMEs and several industrial clusters, Vadodara has emerged as one of Gujarat’s key manufacturing centres. Its established presence across engineering, chemicals, pharmaceuticals and energy sectors provides a strong base to attract new investments and create employment opportunities.
He said manufacturing must become a central pillar of India’s economic strategy. “Today, nearly 70 per cent of India’s population is dependent on agriculture. If India wants to become a $30-trillion economy, manufacturing has to grow much faster and create millions of jobs. No country has reached that scale of economic growth without a strong manufacturing sector,” Nag said.
Referring to the ongoing diversification of global supply chains, he said India must move aggressively to capture investments that are looking beyond China.
“The world is actively looking at a China+1 strategy. Vietnam has benefited enormously from this shift. The question before us is simple: how do we bring those investments to India? To do that, we need a change in mindset, greater competitiveness, faster execution and a stronger focus on manufacturing excellence,” Nag said.
Industry leaders noted that while India possesses a large domestic market, abundant talent and a growing industrial base, competing with countries such as Vietnam will require improvements in logistics, infrastructure, ease of doing business and technology adoption.
Naresh Patel, Vice Chairman of the CII Gujarat State Council and Chairman & Managing Director of Acutaas Chemicals Ltd, said innovation would play a decisive role in determining India’s manufacturing competitiveness.
“If we want to take on China, we cannot compete only on costs. We need research, development and technology. The Gujarat government’s initiatives to promote R&D are important because innovation is what will ultimately help Indian industry move up the value chain,” he said.
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