Gujarat is positioning itself as a diversified investment destination spanning artificial intelligence, global capability centres, and financial services, while maintaining its manufacturing prowess, according to Deputy Chief Minister and Industries Minister Harsh Sanghavi at the World Economic Forum 2026 in Davos. The state's strategic shift represents an evolution from its traditional manufacturing focus to capture opportunities in emerging sectors.

Manufacturing Foundation Remains Strong

Despite the diversification push, manufacturing continues to anchor Gujarat's economic strategy. Sanghavi emphasized the state's proven manufacturing capabilities, highlighting a significant recent development with Maruti Suzuki.

"We have already proved our capacity in manufacturing, and we are doing very well. So our major focus is on manufacturing only," Sanghavi stated, underscoring that manufacturing remains the primary focus despite sectoral diversification efforts.

Strategic Platforms Drive Diversification

Gujarat's expansion into new sectors is being facilitated through purpose-built infrastructure platforms. GIFT City, India's operational international financial services centre, and Dholera, the greenfield industrial city under the Delhi-Mumbai Industrial Corridor, serve as key enablers for this diversification strategy.

"GIFT City and Dholera are among the most favourable platforms for other sectors as well," Sanghavi explained, noting that global firms increasingly view these hubs as strategic entry points into India. The state government reports growing interest from companies exploring various sectors including AI applications, financial models, GCCs, textile parks, and advanced manufacturing.

Long-Term Partnership Approach

Gujarat's Davos 2026 strategy marks a departure from previous approaches focused on MoU announcements. Instead, the state emphasizes identifying sustainable opportunities and building long-term partnerships.

"We are here not just for MoUs. We are not running behind MoUs," Sanghavi noted, explaining that Gujarat already maintains a robust investment pipeline through established platforms.

Comprehensive Sectoral Engagement

The Gujarat delegation at Davos includes officers from multiple departments covering science and technology, industries, Dholera, and GIFT City. This cross-functional approach reflects the state's commitment to engaging across diverse sectors rather than limiting outreach to traditional manufacturing alone.

Sanghavi outlined the state's broader vision: "I want to handhold and nurture industries of Gujarat — first to make them national champions, and then global leaders in their own fields." This approach aims to develop local industry capabilities while attracting global investments across emerging sectors.

Future Infrastructure Development

Beyond immediate investment attraction, Gujarat is preparing for major sporting events that will further enhance its infrastructure capabilities. The state is developing facilities for the International Police and Fire Games, involving over 12,000 athletes, and the 2030 Commonwealth Games. Infrastructure completion is targeted by the end of 2028, with the major Sardar Patel Sports Corridor scheduled for completion by 2029.

The Gujarat Cabinet has approved the creation of nine new District Central Cooperative Banks (DCCBs) to serve districts that were carved out from existing larger districts in recent years. The decision was announced following a cabinet meeting chaired by Chief Minister Bhupendra Patel, with state government spokesperson and minister Jitu Vaghani providing details to reporters.

Bank Division Structure

The new DCCBs will be established by dividing existing district cooperative banks to align with the state's administrative restructuring. The division plan covers nine districts across Gujarat:

National Cooperative Banking Initiative

The Gujarat decision forms part of a broader national initiative to expand rural cooperative banking infrastructure. Prime Minister Narendra Modi has set the objective of extending cooperative bank coverage to all districts across the country. The Ministry of Cooperation, under Union Minister Amit Shah's leadership, is spearheading this special initiative.

NABARD has submitted an approach note to the Ministry of Cooperation proposing the establishment of new District Central Cooperative Banks in several districts nationwide. This comprehensive approach note specifically recommended the creation of nine new DCCBs in Gujarat to serve the newly formed districts.

Rural Credit Access Enhancement

The establishment of these new DCCBs is expected to significantly improve financial services for farmers and rural citizens across Gujarat. Minister Vaghani emphasized that the initiative will make credit access easier for farmers in remote areas, thereby strengthening the rural economy. The banks will provide localized banking services tailored to the specific needs of each district's agricultural and rural communities.

Implementation Process

The state government will now proceed with the formal establishment process by submitting a detailed proposal to the Reserve Bank of India through NABARD. This proposal will outline the operational framework, capital requirements, and governance structure for each new DCCB. Following RBI approval, the government will undertake the necessary legal processes to formally establish and operationalize the nine new District Central Cooperative Banks.