PM Modi inaugurates the VGGS | Vibrant Gujarat Global Summit
The Vibrant Gujarat Global Summit 2024, held at the Mahatma Mandir in Gandhinagar, Gujarat, marked a significant milestone in India’s journey towards economic growth and international cooperation. The summit was inaugurated by Prime Minister Narendra Modi in the presence of world leaders and delegates from over 130 countries. With its theme of “One Earth, One Family, One Future,” the summit aimed to foster collaboration and promote sustainable development across various sectors.
A Warm Welcome and Global Participation
Chief Minister Bhupendra Patel extended a warm welcome to the delegates, emphasizing the importance of their participation in the Vibrant Gujarat Summit. The event witnessed the presence of world leaders such as UAE President Mohamed bin Zayed Al Nahyan, Prime Minister of the Czech Republic Petr Fiala, Mozambique President Filipe Jacinto Nyusi, and President of Timor-Leste José Ramos-Horta, among others. The participation of these leaders highlighted the global significance of the summit and the potential for international collaboration.
Strengthening Economic Partnerships
The summit provided a platform for foreign conglomerates to explore investment opportunities in Gujarat. Companies like Microsoft, Nasdaq, Google, and Suzuki expressed their interest in expanding their presence in the state. Japanese automobile giant, Suzuki Motor Corporation, announced its plan to invest Rs 35,000 crore in establishing a new car manufacturing plant in Gujarat. This investment reflected the confidence of global companies in Gujarat’s business-friendly environment and skilled workforce.
Promoting Industrialization and Innovation
The Vibrant Gujarat Summit highlighted the importance of industrialization and innovation in driving economic growth. Various events, including seminars and conferences, focused on globally relevant topics such as Industry 4.0, Technology and Innovation, Sustainable Manufacturing, Green Hydrogen, Electric Mobility, Renewable Energy, and Transition towards Sustainability. These discussions aimed to foster knowledge exchange, encourage technological advancements, and promote sustainable practices in industries.
The Role of Gujarat in Foreign Investments
Gujarat has emerged as an attractive destination for foreign investments, securing approximately $34 billion between 2019 and 2023. The state’s strategic location, infrastructure development, and business-friendly policies have contributed to its success in attracting investments. Gujarat’s industrial clusters, such as GIFT City, Dholera, and the Maritime cluster, have played a crucial role in promoting specialized industries and creating employment opportunities. The state’s focus on sectors like manufacturing, technology, and renewable energy has positioned it as a leader in India’s economic growth.
The Remarkable Growth of Gujarat’s Economy
Gujarat’s economic growth has been impressive, and it is projected to become a USD 3 trillion economy by 2047. The state’s commitment to sustainable development, infrastructure development, and ease of doing business has propelled its growth. The Gujarat government’s efforts in promoting specialized clusters, creating a supportive ecosystem for entrepreneurship, and attracting foreign investments have contributed to the state’s remarkable progress.
Success Stories and Collaborations
The Vibrant Gujarat Summit showcased success stories of various companies and highlighted their contributions to Gujarat’s development. Reliance Industries Chairman Mukesh Ambani emphasized the company’s commitment to Gujarat, stating that Reliance has invested over 150 billion dollars in creating world-class assets and capacities across India, with a significant portion invested in Gujarat alone. Other prominent industrialists, such as Gautam Adani and Natarajan Chandrasekaran, also shared their experiences and announced further investments in the state.
The Importance of AI and Data Centers
The summit highlighted the significance of artificial intelligence (AI) and data centers in driving innovation and economic growth. Shanker Trivedi, Senior VP of Nvidia Global Field Operations, expressed delight in partnering with leading groups in India to establish state-of-the-art AI data center facilities. These facilities will not only benefit India but also contribute to the global economy. The adoption and advancement of AI technology are expected to revolutionize various sectors, including healthcare, manufacturing, and governance.
International Cooperation and South-South Triangular Cooperation
The Vibrant Gujarat Summit emphasized the importance of international cooperation and South-South triangular cooperation for global growth and development. Ryad Mezzour, Minister of Industry & Commerce, Morocco, highlighted the potential for collaboration between Morocco and India, specifically in promoting growth in Africa, India, and the world. The summit provided a platform for countries to discuss joint initiatives that would benefit the entire African continent, particularly in industrialization, economic development, and ensuring food and health security.
Infrastructure Development and Logistics
The summit also focused on infrastructure development and the logistics sector. DP World, a multinational logistics company, announced its plans to invest in Gujarat’s infrastructure and develop a state-of-the-art container terminal at Kandla Port. This investment is expected to boost trade, employment, and cultural collaboration between India and the UAE. The development of efficient logistics infrastructure is crucial for enhancing connectivity and facilitating international trade.
Towards a Sustainable Future
Sustainability was a key theme at the Vibrant Gujarat Summit, with discussions on green hydrogen, renewable energy, and sustainable manufacturing. The summit aimed to promote the transition towards sustainability by encouraging the adoption of clean and renewable energy sources, promoting sustainable manufacturing practices, and exploring innovative solutions for environmental challenges. These initiatives align with India’s commitment to achieving its renewable energy targets and mitigating the impact of climate change.
Conclusion
The Vibrant Gujarat Global Summit 2024 showcased Gujarat’s remarkable progress in attracting investments, promoting industrialization, and fostering international collaborations. The summit served as a platform for global leaders, companies, and policymakers to discuss crucial topics, foster innovation, and explore opportunities for economic growth. Gujarat’s commitment to sustainable development, infrastructure development, and a business-friendly environment positions it as a leading state in India’s journey towards becoming a global economic powerhouse. The summit’s success highlights the potential for Gujarat to serve as a gateway to economic growth and international cooperation.
