Vibrant Gujarat Global Summit: From Adversity to Investment Hub

Ahmedabad, Dec 20 (PTI) The Vibrant Gujarat Global Summit, which was launched two years after a devastating earthquake hit the state, has transformed Gujarat, making it one of India's fastest-growing economies and most-sought-after investment destinations, present and former officials have said.

As Gujarat prepares to host the 10th edition of the summit on January 10-12, 2024, the event continues to move ahead on its plan to catalyse economic growth through innovation, sustainability, and global collaborations, reinforcing its role in driving progress and prosperity, they said.


Ever since it was launched in 2003, the summit has seen the number of participant countries soar from 12 in 2007 to 135 in 2019, showcasing its remarkable global expansion, the officials said.


The biennial event, which serves as a platform for businesses and governments to explore investment opportunities and establish partnerships, was launched two years after a powerful earthquake killed nearly 13,000 people on January 26, 2001.


The first edition of the Summit in 2003 took place in 3,000 square metres. It grew to 19,200 square metres in 2009, and 1.5 lakh square metres in 2019.


PK Laheri, who spearheaded the first two editions of the summit as the then state chief secretary, attributed its global success to Prime Minister Narendra Modi's visionary leadership and his uncompromised focus on Gujarat's growth.


“When we started the summit, PM Modi (then the chief minister of Gujarat) thought it would be better for him to be fully involved in it,” recalled Laheri.


“They got a list of about 300 big units which were operating in Gujarat, be it IPCL or GAIL or a government company or a private company like Torrent, Ambuja. He spoke to each of them and requested them to attend the first meeting,” he said.


In a recent speech, PM Modi recalled how the event expanded in scope and ambition since its launch in 2003. “Twenty years ago we sowed a small seed which today has become a huge living tree,” he said.


In 2023, according to property consultant Colliers India, Gujarat attracted the highest amount of investment in the manufacturing sector, exceeding Rs 30,000 crore.


As per Colliers's study, Gujarat is the most preferred destination for manufacturing, with Maharashtra in second place and Tamil Nadu in third. It said the Indian manufacturing market has the potential to achieve a valuation of $1 trillion by 2025-26.

Gujarat is positioned to become the leading manufacturing powerhouse in India, it said.


For the state government, the 10th edition of the summit is special in many ways, covering a journey of two decades of growth and prosperity of the state, said officials.


As the event expands, over 72,500 people and business-industry organisations from 72 countries have already registered online. The state industries department plans to use the platform to attract investments in PM MITRA Park, Medical Devices Park, Pharma Park, and Toy Park in the state, said an official release on Tuesday.


To promote the event, Chief Minister Bhupendra Patel, as well as his ministers and senior officials visited 11 countries, engaging in 200 one-to-one meetings, and the government organised roadshows, comprising more than 106 one-to-one meetings, in 10 Indian cities, the release said.


Memoranda of understanding (MoUs) with investment intention of Rs 45,000 crore were signed for potential investments during the Vibrant Gujarat-Vibrant District events organised in the run-up to next month's summit. The investments aim to generate around 1.75 lakh potential employment opportunities, stated the release.


Presenting a comprehensive plan for the event, Additional Chief Secretary (Industries Department) S J Haider said that it will focus on themes such as “Industry 4.0 leading the Industrial Revolution, Technology and Innovation as drivers of Inclusive Growth, and Transitioning towards Sustainability”.


A global trade show is scheduled for five days, starting January 9, a day before the summit begins. The trade show will feature “techade”, disruptive technologies, and champion service sectors as its main attractions, he said.


Additionally, plans include a reverse buyer-seller meet, vendor development initiatives, and seminars promoting startups, MSMEs, and women entrepreneurs during the trade show.


The summit will cover topics like Industry 4.0 spearheading the industrial revolution, aircraft ancillary product MRO opportunities, greenfield Smart City for Dholera-Smart Business, Gujarat's roadmap for a Viksit Bharat@2047, the official said.


There will be seminars and conferences on technology and innovation as drivers of inclusive growth, semiconductor and electronics, port-based city development, building workforce for future-industry 4.0y Youth-focused events on skill development, EV startups, GIFT City, Space, renewable energy, officials said.


On January 12, the concluding day, the summit will showcase a conclave on MSME, de-carbonisation of economy and carbon trading, wastewater and waste recycling, circular economy, green hydrogen destination.