The Delhi curtain-raiser event for the 10th Vibrant Gujarat Global Summit, scheduled for January 10-12, 2024, will mark a significant milestone in Gujarat’s journey from being the ‘Most Preferred Investment Destination’ to becoming a ‘Gateway to the Future.’
Prime Minister Narendra Modi will inaugurate the summit, which is expected to attract national and international delegates and witness the signing of a significant amount of MoUs.
The event held in New Delhi, in the presence of the Chief Minister of Gujarat, Bhupendra Patel, and other dignitaries, set the stage for the forthcoming summit. It aimed to highlight the remarkable achievements of Gujarat and the summit’s theme, ‘Gateway to the Future,’ in shaping the vision of New India.
Patel expressed his enthusiasm for the 10th Vibrant Gujarat Global Summit, emphasizing its role in contributing to the development and socio-economic growth envisioned by PM Modi. Patel said, “Gujarat is well-positioned to contribute and accelerate the vision of Atmanirbhar Bharat and Viksit Bharat 2047. I welcome all of you to the 10th summit to participate in the growth story of Gujarat.”
On the occasion, BK Goenka, Chairman of Welspun Group, highlighted the significance of the summit, stating, “Vibrant Gujarat is not only a platform to sign MoUs, but also to make those into realities. Billions of dollars of MoUs have been signed during previous summits, but 70% of the MoUs signed during the events have brought investment into the state of Gujarat.”
Highlighting that the state’s business-oriented mindset has attracted investments across various sectors, including emerging fields like semiconductors, he said, “Gujarat means dhando, dhando means Gujarat.”
Richard McCallum, Group CEO of the UK India Business Council, highlighted the importance of Gujarat in UK-India relations, citing the presence of over 600 UK companies in India with a combined turnover of approximately $60 billion. McCallum praised Gujarat’s proactive measures, ease of doing business, regulatory reforms, industrial policies, and focus on infrastructure and talent. He cited JCB, a leading UK manufacturing company, opening a new plant in Gujarat in 2022 as a testament to the state’s appeal to UK businesses.
Meanwhile, Hisashi Takeuchi, MD & CEO of Maruti Suzuki, discussed the company’s significant investments in Gujarat, including car manufacturing plants and India’s first lithium-ion battery plant. He said: “We have facilitated 92 of our supplier partners to set up plants in Gujarat for supplying components to our plants. We have made an investment of Rs 32,000 crores and generated employment of about 1 lakh people in Gujarat and more than 10000 crores of investment is in the pipeline.”
AGENDA FOR 2024
Additional Chief Secretary, Industries & Mines Department, Government of Gujarat, SJ Haider, outlined the agenda for the Vibrant Gujarat Global Summit 2024. Haider highlighted key areas of focus, including transitioning towards a knowledge-based economy, promoting new-age skills, sustaining iconic projects, providing an enabling platform for other states, and organizing seminars and workshops to spread vibrancy across the state.
Haider emphasized Gujarat’s attractiveness as a preferred investment destination, citing geographical advantages, land availability, special investment regions, and future-ready infrastructure projects. He also noted developments in Gift City and the Dholera Special Investment Region and highlighted the upcoming inauguration of the Surat Diamond Bourse, set to become the world’s largest office building, which will be bigger than US’ Pentagon.
As per the official, in the automobile and components sector, Gujarat has successfully established robust auto clusters spanning the entire value chain. The state is now focused on transforming into an electric vehicle hub and expanding into emerging fields such as semiconductors and Electronic System Design and Manufacturing (ESDM).
Gujarat’s commitment to business-friendly policies was underscored by its enactment of the MSME Act 2019, which allowed MSMEs to begin operations immediately. With over one million registered MSMEs, the state is well-prepared to address 21st-century skill gaps through skilling, reskilling, and upskilling in line with the National Education Policy, said Haider.
The 10th Vibrant Gujarat Global Summit in January 2024 will feature seminars and conferences on global topics such as industry 4.0, technology and innovation, sustainable manufacturing, green hydrogen, electric mobility, renewable energy, and transitioning towards sustainability. A global trade show will also showcase cutting-edge technology and innovation across sectors.
Secretary, Department for Promotion of Industry and Internal Trade, Government of India, Rajesh Kumar Singh, commended the Vibrant Gujarat Summit for setting a benchmark for attracting investment and noted that other states are following suit with similar events.
The Ministry of Commerce and Industry of India’s statistics indicate that Gujarat has emerged as a top state for investment over the last decade, with consistent trust from banks and financial institutions. The state has secured funds for over 600 development projects, the highest in the country, reflecting the confidence of domestic and international companies in Gujarat as their preferred place for doing business.
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