Economy

Gujarat controls some of the largest businesses in India. Major Agricultural produce of the state include cotton, groundnuts, peanuts, dates, sugar cane, milk & milk products. Industrial products include cement, and petrol.

• 19% of India's Industrial Output[citation needed]

• 10% of its Mineral Production

• 20% of its exports

• 25% of its textile production

• 40% of India's pharmaceutical products

• 47% petrochemical production

• Largest Sea shore, 1670 km.

The world's largest ship breaking yard is in Gujarat near Bhavnagar at Alang. Reliance Petroleum Limited, one of the group companies of Reliance Industries Limited founded by Dhirubhai Ambani operates the oil refinery at Jamnagar which is the world's largest grass-roots refineries. The company has also planned another SEZ(special economic zone), in Jamnagar.

Gujarat ranks first nationwide in gas-based thermal electricity generation with national market share of over 8% and second nationwide in nuclear electricity generation with national market share of over 1%.

Over 20% of the S&P CNX 500 conglomerates have corporate offices in Gujarat.

As per RBI report, in year 2006-07, 26% out of total bank finance in India was in Gujarat.

Industrial growth

One of India's first most industrialized states, Gujarat maintains a variety of industries, the principal ones being general and electrical engineering and the manufacture of textiles, vegetable oils, chemicals, soda ash, and cement. New industries include the production of fertilizers and petrochemicals. Gujarat alone pays 27% tax of india. In growth rate, Gujarat at first rank in india according Indian industrial resource (IIR).Major resources produced by the state include cotton, peanuts, dates, sugarcane, and petrol. The state is rich in calcite, gypsum, manganese, lignite, bauxite, limestone, agate, feldspar and quartz sand and successful mining of these minerals is done in their specified areas. Gujarat produces about 90% of India’s required amount of Soda Ash and gives the country about 66% of its national requirement of salt. It is one of India's most prosperous states, having a per-capita GDP significantly above India's average. Kalol Khambat and Ankaleshwar are today known for their oil and natural gas production. ‘Dhuvaran’ has a thermal power station, which uses coal, oil and gas. The Tarapur nuclear station in Maharashtra supplies the remaining power. Also on the Gulf of Khambat, 50 kilometers southeast of Bhavnagar , is the Alang Ship Recycling Yard (the world's largest). General Motors produces the ‘Astra’ car at Halol near Vadodara. Jalalpur is a large town of Gujarat, where several small and large textile industrial units have been established. Surat, a city by the Gulf of Khambat, is a hub of the global diamond trade.

During the period 1960-90, Gujarat established itself as a leader in various industrial sectors - Textiles, Engineering, Chemicals, Petrochemicals, Drugs & Pharmaceuticals, Dairy, Cement & Ceramics, Gems & Jewellery, etc. Post-liberalization period saw Gujarat's State Domestic Product (SDP) rising at an average growth rate of 14% per annum in real terms (from 1994 -2002). Gujarat achieved as much as 35% of augmentation in its power generation capacity during the period 1995-96 and 2000-01. The producers (IPPs) have contributed significantly in this addition. As a matter of fact Gujarat is one of the first few states in India to have encouraged private sector investment and is already in operation. In addition the liquid cargo (Chemicals) handling port at Dahej is also set up in joint sector and made operational. At an investor's summit entitled Vibrant Gujarat arranged between January 10, 2007 to January 13, 2007, at Science City, Ahmedabad, the state government signed 104 Memoranda of Understandings for Special Economic Zones totalling worth Rs 2.5 lakh crore.[9]. However, most of the investment was from domestic industry.[10]

Agriculture

Gujarat is the main producer of tobacco, cotton, and groundnuts in India. Other major food crops produced are rice, wheat, jowar, bajra, maize, Tur, and gram. Gujarat has an agricultural economy; the total crop area amounts to more than one-half of the total land area.

Animal husbandry and dairying have played a vital role in the rural economy of Gujarat. Dairy farming, primarily concerned with milk production, functions on a cooperative basis and has more than a million members. Gujarat is the largest producer of milk in India. Amul milk co-operative federation products are well known all over India and is Asia's biggest dairy.[citation needed] Among livestock raised are buffalo and other cattle, sheep, and goats. As per the results of livestock census 1997, there were 209.70 lakh livestock in Gujarat State. As per the estimates of the survey of major livestock products, during the year 2002-03 the Gujarat produced 6.09 million tonnes of milk, 385 million eggs and 2.71 million kg of wool. Gujarat also contributes inputs to industries like textiles, oil and soap.