Vibrant Gujarat Summit: Turning Adversity into Prosperity

Ahmedabad, Dec 21 (PTI) The transformation of Gujarat is a tale of turning adversity into prosperity, with the foundation of economic growth of the state, that leads today on multiple yardsticks, laid way back in 2001 when Narendra Modi first took oath as the state's chief minister.


Reeling under the January 26, 2001 devastating earthquake in Kutch -- the third largest and second most destructive earthquake in India over the last two centuries which killed around 14,000 people -- and battling apathy of the then central government and adverse socio-economic factors, Gujarat's investment climate had faced a big question mark.


The journey of the state's growth can now be assessed from the fact that from being a merely USD 13 billion economy in 2001, it achieved the Gross State Domestic Product (GSDP) of USD 280 billion in 2023.


With the aim to transform the state, Prime Minister Narendra Modi, as the then chief minister of the state, envisioned the Vibrant Gujarat Global Summit in 2003.

The 10th edition of the investors' summit is scheduled to take place from January 10-12, 2024 in state capital Gandhinagar.


Former state chief secretary PK Laheri, who was among the close group of people who worked to organise the first edition of the Vibrant Gujarat Summit, recalled: "When we started the summit, Prime Minister Modi (then CM) thought it would be better for him to be fully involved in it."


While 76 MoUs were signed in the first edition of the Vibrant Gujarat Summit, the number swelled to 675 MoUs in 2009 and further to 28,360 in 2019, indicating the increasing trust and commitment shown by the industry towards the state's growth story.


The rise in investments, including by some leading global investors, through the biennial summit reflects on the rapid growth and development across all sectors in Gujarat.


The sustained surge in the number of exhibitors since the first edition of the summit in 2003 shows the state's steady economic growth.


With the central theme of "Gateway to the Future," the 10th edition of the Vibrant Gujarat Global Summit to be held next month offers a chance to tackle common challenges and pave the way for global sustainable development through increased international cooperation.


Industry leaders believe that the economic and industrial transformation of Gujarat from 2003 to 2023 has been meteoric.

Business experts are of the view that with Prime Minister Modi's focus on all-round development of Gujarat, this event will continue to be the focal point for policy makers, industry leaders and the other architects of economic transformation.