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The Gujarat Formation Day, also known as Gujarat Sthapana Divas is commemorated every year on May 1 in recognition of the creation of Gujarat as a separate state out of the then Bombay state on linguistic grounds in 1960.

The creation of Gujarat can be credited to the Mahagujarat movement aka Mahagujarat Andolan - a political movement that demanded the creation of Gujarat state for Gujarati-speaking people from the then bilingual Bombay state of India in 1956.

Following the creation of Gujarat, Ahmedabad came to assume the status of the chief city of the new state and housed all the government offices of the State, until they were transferred to Gandhinagar a decade later, in 1970.

Gujarat is 2nd largest producer of crude oil (onshore), 4th largest producer of natural gas, occupies the first spot in Logistics in the country with 42 ports and 18 operational
airports, and is one of the leading industrialised states in India.

Gujarat is regarded as the petroleum capital of India with several refinery units, and housing several Oil and Gas reserves in places like Ankleshwar, Mehsana, Tapti High, Hazira, Bharuch, Gandhar, Dahej, Jambusar, Palej, and Kalol. It is the world's largest producer of processed diamonds, accounting for 72% of the world's processed diamond share and 80% of India's diamond exports.

Gujarat is also home to several educational institutions of higher learning comprising 3 Central Universities, 22 State Universities, 32 Private Universities, 238 Engineering Colleges (AICTE approved), 422 Industrial Training Institutes, 145 Polytechnic Institutes, 74 Pharmacy Colleges, and 4 Agricultural Universities.

Gujarat is popular for it is folk and cultural fairs such as Kavant, Shamlaji, Tarnetar, etc. which adds to its grandeur.