Morbi is a small city 64 km from Rajkot, once a princely state and now known as India's ceramics capital -- along with being a major centre for clock manufacturing (Ajanta Quartz, the world's largest clock manufacturer, is based here on the Morbi-Rajkot road).
The city was devastated by a catastrophic flood in 1979 that destroyed most of its historical monuments, but the Mani Mandir, the former palace of the Morbi kings, survives and is worth seeing. The Hanging Bridge over the Machchu river is the city's most famous landmark. Victoria Garden, opposite Mani Mandir, is a pleasant place for a walk.
You can reach Morbi within two hours from Rajkot by ST bus. Hotels are available near the New Bus Stand.