Gujarat

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Tuesday, September 29, 2009

Gujarat reverses recession with double digit growth in VAT and Energy consumption ratio

Gujarat has reversed the worldwide economic recession trend achieveing double digits growth in its Energy Consumption Ratio (ECR) and Value Added Tax (VAT), Gujarat Industry Minister Saurabh Patel said here today.

Talking to mediapersons, Mr Patel announced that the 'INDIACHEM Gujarat-2009' will be held in the city from December 12-14.

''The double digit growths in ECR & VAT, which are being considered true yardstick to measure economical growth of any state, clearly indicate that the state has not just halted the adverse effect of world wide economic recession but has reversed it with showing of such remarkable performances by the industries.'' Mr Patel said ''The industies in Gujarat have shown ECR growth of 10-12 per cent this year, compared to previous year.

Similarly, the income of VAT has gone up by over 12 per cent.'' ''The Indiachem, a bi-annual event of Indian chemical industries, which is the first time being organised here rather than its traditional venues of Mumbai and Delhi, since its inception in year 2000, will give further boost to the chemical industries of Gujarat which is producing 40 per cent of India's total checmical output,'' Mr Patel said.

He said that Gujarat has over 7,000 chemical processing units ranging from dye-chem to bio-chem which are contributing major chunk to the Gujarat success story of indudsrial growth set by Chief Minister Narendra Modi through series of 'Vibrant Gujarat Global Investors Summit' series, which have been attracting investments from all over the world amounting to several billion US dollars.

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