Davos 2026 | Gujarat isn't just building factories—it's betting on AI, GCCs and GIFT City to attract global capital

Even as Gujarat continues to double down on its manufacturing strengths, the state is sharpening its pitch to global investors by positioning itself as a multi-sector destination spanning artificial intelligence, global capability centres (GCCs) and financial services.

Speaking to CNBC-TV18 on the sidelines of the World Economic Forum 2026 in Davos, Gujarat Deputy Chief Minister and Industries Minister Harsh Sanghavi said the state is no longer limiting its outreach to traditional manufacturing alone, leveraging platforms such as GIFT City and Dholera to attract investments across emerging sectors.

“We have already proved our capacity in manufacturing, and we are doing very well. But we are also finding opportunities in other fields,” Sanghavi said, pointing to growing interest from companies operating in AI, financial services and global capability centres.

Manufacturing Remains the Anchor

While Gujarat’s Davos outreach spans newer sectors, Sanghavi made it clear that manufacturing continues to be the state’s core strength and primary focus.

“Just before coming to Davos, we signed an MoU with Marutiworth ₹35,000 crore,” he said, adding that once the new expansion is completed, Maruti Suzuki alone will manufacture over 20 lakh cars per annum in Gujarat. “So our major focus is on manufacturing only.”

The comment underlines Gujarat’s strategy of building on scale and execution in manufacturing, while simultaneously broadening its economic base to future-ready sectors.

GIFT City, Dholera at the Centre of Diversification Push

Sanghavi said Gujarat’s push beyond manufacturing is being enabled by purpose-built platforms such as GIFT City, India’s only operational international financial services centre, and Dholera, the greenfield industrial city under the Delhi-Mumbai Industrial Corridor.

“GIFT City and Dholera are among the most favourable platforms for other sectors as well,” he said, suggesting that global firms are increasingly viewing these hubs as entry points into India.

According to the state government, interest at Davos has come from companies exploring AI applications, financial models, GCCs, textile parks and advanced manufacturing, reflecting a more diversified investor mix than in the past.

Not Chasing MoUs, Focused on Long-Term Opportunities

Unlike earlier Davos editions dominated by MoU announcements, Sanghavi said Gujarat’s approach this year is centred on identifying new opportunities and long-term partnerships, rather than chasing headline numbers.

“We are here not just for MoUs. We are not running behind MoUs,” he said, noting that Gujarat already has a strong investment pipeline through the Vibrant Gujarat Global Summit and recent regional investor conferences.

At the 2024 Vibrant Gujarat Summit, the state received investment proposals worth over ₹45 lakh crore, while regional Vibrant conferences in Mehsana and Rajkot recently garnered an additional ₹9 lakh crore in proposals.

Looking ahead, the Gujarat government aims to make the state more accessible for global companies across sectors, while nurturing local firms to become national champions and global leaders.

“I want to handhold and nurture industries of Gujarat — first to make them national champions, and then global leaders in their own fields,” Sanghavi said.

Also Read | Maruti Suzuki to invest ₹35,000 crore in Gujarat for new 10 lakh-unit plant

Below is the verbatim transcript of the interview.

Q: Let me start by asking you about how the meetings have gone so far. What’s the level of interest, and are there any specific sectors that people are talking to you about?

Sanghavi: I’m representing India, although I’m the Deputy Chief Minister and Industry Minister of Gujarat. I’m here with a clear vision and mission to aggressively develop industry in my state. I want to handhold and nurture industries of Gujarat to make them national champions in the first phase, and in the second phase, I want to see them as global leaders in their own fields.

So, we are in Davos for the first time, and we are here with a delegation of five to seven officers from various departments—science and technology, industries, Dholera, GIFT City. Here in Davos, we have met various industries across sectors such as AI, textile parks, textile industries, various manufacturing sectors, GCCs, and other financial models.

We are here not just for MoUs, and we are not running behind MoUs, actually. Because we have had the Vibrant Gujarat trend in Gujarat for many years. In 2024, at Vibrant Gujarat, we received proposals worth more than ₹45 lakh crore through MoUs. Recently, we launched regional Vibrant Conferences, which were held in Mehsana and Rajkot. In a very short time, we received proposals worth more than ₹9 lakh crore through MoUs.

We are here to find new ways and new opportunities, and it has gone very well. You have seen how India is being represented in Davos. When the world was sleeping, at 7:30 am the India House was full and packed. It was jammed. The way international interest is growing, you can see a new India. You can say that New India is performing among the best.

For the first time, everyone is talking about how no one ever imagined that Assam, Jharkhand, and other states would be present in Davos. So this is a new trend.

Q: Yes, it certainly is a new trend. We’ve seen many new states make an appearance here in Davos. But would it not make sense for you to focus on your strengths, which are really manufacturing, as opposed to going into areas like AI, which may be strengths for other states? Do you intend to double down on manufacturing?

Sanghavi: We have already proved our capacity in manufacturing, and we are doing very well. But we are also finding opportunities in other fields. You can see GIFT City and Dholera; these are among the most favourable platforms for other sectors as well.

We are finding opportunities, although we are already doing very well in attracting new investments in manufacturing even before coming to Davos. On the same day, we signed an MoU with Maruti worth ₹35,000 crore. Once this new expansion of Maruti is completed, Maruti alone will manufacture more than 20 lakh cars per annum in Gujarat. So our major focus is on manufacturing only.

Q: The Commonwealth Games are the next big opportunity coming up. What can we expect on that front in terms of infrastructure build-out, and how is the state preparing for it?

Sanghavi: You are aware that Gujarat is always ahead in terms of infrastructure. Not only the Commonwealth Games, we are also hosting the International Police and Fire Games, in which more than 12,000 athletes will take part. The numbers are equivalent to the Olympics.

For the 2030 Commonwealth Games, we have already planned the infrastructure. We are not getting the Commonwealth Games just as an event; we are getting it to create a sports culture in Gujarat and India. Infrastructure will be ready by the end of 2028, and the major Sardar Patel Sports Corridor will be ready by 2029.

Q: And then the aspiration is for the Olympics?

Sanghavi: Yes, we are working on it. You know very well that India is now a superpower. We have good ideas, and I hope we will get the Olympics for sure.

Q: So looking ahead to 2026, what should we look forward to from you in terms of next steps and big announcements?

Sanghavi: Gujarat is working on attracting more and more investments and creating more opportunities for the people of Gujarat. As I said earlier, I want to see industries from Gujarat become national champions and global leaders in their own fields. I want to handhold and nurture them, and we want to make Gujarat more accessible for global companies across all sectors.