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2024 Vibrant Gujarat Global Summit

The 10th Vibrant Gujarat Global Summit (VGGS) was held from January 10 to 12, 2024, at Mahatma Mandir Convention and Exhibition Centre in Gandhinagar, Gujarat, India.[2][3] The summit, organized by the Government of Gujarat in partnership with the Confederation of Indian Industry (CII) and iNDEXTb, focused on the theme "Gateway to the Future," bringing together global leaders, policymakers, and industry experts to discuss and explore opportunities for sustainable development, economic growth, and international cooperation.[4][5]

2024 Vibrant Gujarat Global Summit
10th Vibrant Gujarat Global Summit
2024 Vibrant Gujarat Global Summit Logo
Mahatma Mandir
(Summit Venue)
Host countryIndia India
Date10–12 January 2024
MottoGateway to the Future
Venue(s)Mahatma Mandir
CitiesGandhinagar
Participants103,000[1]
ChairBhupendrabhai Patel, Government of Gujarat
Follows2022
Precedes2026
Websitevibrantgujarat.com

The main focus of the Vibrant Gujarat Summit was on semiconductor, green hydrogen, space technology manufacturing, electric mobility, sustainable manufacturing, renewable energy, and Industry 4.0, said CM Bhupendra Patel.[6][7] The journey of Vibrant Gujarat summit began in 2003 and was held every two years.[8] In preparation for the summit, the Gujarat government conducted roadshows across India and the globe to promote the state's investment potential and attract global investors.[9] These summits were held in major cities such as Mumbai, Delhi, Bangalore, Lucknow, Chennai, Kolkata, and Chandigarh, as well as in international cities like New Jersey, Dubai, Singapore, Tokyo, Frankfurt, Milan, Copenhagen, Paris, Ho Chi Minh City, and Seoul.[10] As of right now, the state government reported that 28 nations and 14 organizations have confirmed to be partners in the summit.[11] MoUs for 41,299 projects, with investment worth ₹26.33 lakh crore were signed during the event.[12]

Background

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Main article: Vibrant Gujarat

The Vibrant Gujarat Global Summit, often referred to as the Vibrant Gujarat Summit, is a biennial global business event that is held in the state of Gujarat, India.[13][14] This biennial summit is known for its significance in fostering economic growth, trade, and investment opportunities in the region. It provides a platform for key stakeholders, including government officials, business leaders, investors, and experts, to come together and discuss various aspects of economic development and collaboration.[15][16]

The Vibrant Gujarat Global Summit was first launched in 2003, and over the years, it has evolved into one of Gujarat's most important economic forums.[8] It is organized by the Government of Gujarat and supported by various industry associations, both at the national and international levels.[17] The summit's primary objective is to promote Gujarat as an attractive investment destination and to facilitate partnerships and collaborations across different sectors.[18] The primary objective of the summit is to create a platform where business leaders, policymakers, and investors to explore opportunities for investment, collaboration, and partnership in various sectors of the economy. The event is structured to facilitate discussions, negotiations, and agreements in sectors such as energy, manufacturing, infrastructure, information technology, agriculture, healthcare, and more.[19] During the Vibrant Summit series, thousands of MOUs were signed and billions of dollars were spent in Gujarat (2003–76 MOUs worth US$14 billions, 2005–226 MOUs worth US$20 billions, 2007–675 MOUs worth US$152 billions, 2009–8662 MOUs worth US$243 billions, 2011–7936 MOUs worth US$462 billions).[20][21]

2023 Startup Conclave

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2023 Startup Conclave
 
Host country  India
Date7 December 2023
MottoInnovative | Elevate | Accelerate
Venue(s)Helipad Exhibition Centre
CitiesGandhinagar
ParticipantsRajeev Chandrasekhar
Websitestartupconclave2023.com

The Startup Conclave 2023 was held in Gandhinagar on 7 December 2023 in the build-up to the 2024 Vibrant Gujarat Global Summit. It aimed to highlight India's rapidly evolving startup ecosystem and foster innovation and collaboration within the country. Presently, India is home to over 108 unicorns, with a combined estimated worth of US$340.80 billion. Of these, 44 unicorns with a valuation of roughly US$93 billion were identified in 2021. Gujarat Chief Minister Bhupendra Patel, along with Union Ministers Dharmendra Pradhan and Rajeev Chandrasekhar, attended the roundtable as well.[22]

It was organized by the state education department in collaboration with the Department of promotion of industry and internal trade (DPIIT), with the Federation of Indian Chambers of Commerce and Industry (FICCI) serving as the knowledge partner, according to state government sources. The event was attended by established startup founders, investors, venture capitalists, industry experts, and innovators.[23]

Representatives from unicorn startups, venture capitalists from around the country, and state businesspeople attended the summit, according to the minister. Additionally, Rajeev Chandrasekhar, Minister of State for Skill Development, Entrepreneurship, Electronics, and Information Technology, and Union Education Minister Dharmendra Pradhan also attended a roundtable meeting on December 6 in Gandhinagar.[24] Rushikesh Patel stated, "To provide a more flexible and conducive environment for startups, the roundtable meeting and startup conclave aimed to focus on regulatory reforms, tax incentives, and enhancing the startup ecosystem in terms of compliance." A study of Gujarat's and India's private equity and venture capital investment landscapes will also be covered in the conversation.[25]

VGVD

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Vibrant Gujarat-Vibrant District (VGVD) is an initiative undertaken by the Government of Gujarat to promote economic development and investment across all 33 districts of the state. The program was launched in 2023 as a precursor to the 10th edition of the Vibrant Gujarat Global Summit (VGGS), scheduled for January 2024.[26] One of the key aspects of the VGVD program is the promotion of the "One District-One Product" (ODOP) initiative. This initiative aims to identify and nurture a flagship product or industry in each district, leveraging its unique strengths and competitive advantages to boost local economies. ODOP products range from traditional handicrafts to innovative technologies, reflecting the diverse economic landscape of Gujarat.[27] These exhibitions highlighted items from the 'One District-One Product' (ODOP) project, increasing their visibility. Startups, local MSMEs, self-help organizations, FPOs, women entrepreneurs, khadi and village industries, cottage industries, and PM Vishwakarma Yojana beneficiaries all took part. Under the Credit Linkage Program, loan fairs were held during the events, and recipients received checks for approved loans. As part of the 'Vocal for Local' campaign, 996 stalls were put up in the exhibitions to promote and spread local goods. The Vibrant Gujarat-Vibrant District initiative organized seminars and workshops on a range of subjects, as well as B2B, B2C, and B2G interactions with traders and businessmen.[28]

The Vibrant Gujarat-Vibrant District (VGVD) program took place in all 32 districts of Gujarat from October 2 to October 31, 2023, falling between Gandhi Jayanti and Sardar Patel Jayanti.[29] This was done in preparation for the Vibrant Gujarat Global Summit in 2024. In all, 2,614 Memorandum of Understandings (MoUs) showing prospective investments above Rs 45,000 crores were inked, according to the official announcement from the state government.[30]

MoUs

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  • Pre-Summit MoUs: Gujarat had signed MoUs for proposed investments totaling ₹7,12,250 crores. These agreements estimated the creation of 3,70,165 direct and indirect employment opportunities.[31][32]
  • Summit MoUs: During the 10th edition of the Vibrant Summit, Gujarat signed the total investment commitment to more than ₹45 lakh crore across 98,540 projects.[33]

KP Group and the Government of Gujarat signed an MoU to install 2.6+ GW of Solar, Wind & Hybrid power plants, as well as a green hydrogen plant in Gujarat. The estimated investment of 17,690 crore rupees and the creation of an estimated 13,750 jobs in Gujarat are anticipated by the year 2026.[34]

Participants

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About 1.3 lakh participants from 140 countries have registered for the 10th edition of Vibrant Gujarat Global Summit.[35][36] 200 Russian government representatives and entrepreneurs will take part in Vibrant Gujarat.[37]

Participating leaders

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Speakers

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See also

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References

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  1. ^ "Vibrant Gujarat Summit | Vibrant Gujarat 2024 Live updates: 'Tata group's investment in Gujarat fab will be big'". The Times of India. 11 January 2024. Retrieved 14 March 2024.
  2. ^ Bureau, BL Ahmedabad (1 January 2022). "PM Modi to inaugurate Vibrant Gujarat Summit at Gandhinagar on January 10". BusinessLine. Archived from the original on 10 November 2023. Retrieved 10 November 2023. {{cite web}}: |last= has generic name (help)
  3. ^ "Vibrant Gujarat Global Summit to be held from January 10 to 12". Business Today. 6 October 2023. Archived from the original on 10 November 2023. Retrieved 10 November 2023.
  4. ^ "Vibrant Gujarat summit to open 'Gateway To The Future'". The Times of India. 21 September 2023. ISSN 0971-8257. Archived from the original on 10 November 2023. Retrieved 10 November 2023.
  5. ^ "PM Modi to inaugurate 10th Vibrant Gujarat Summit on Jan 10". The Indian Express. 22 November 2021. Archived from the original on 10 November 2023. Retrieved 19 November 2023.
  6. ^ Ashutosh Mishra (6 October 2023). "Semiconductors, Industry 4.0 to be discussed at Vibrant Gujarat 2024: CM". www.business-standard.com. Archived from the original on 8 October 2023. Retrieved 19 November 2023.
  7. ^ "Vibrant Gujarat Summit to focus on green H2, semiconductors, space tech". Financialexpress. 22 November 2023. Archived from the original on 22 November 2023. Retrieved 22 November 2023.
  8. ^ a b ASIT K BISWAS (12 March 2015). "Vibrant Gujarat shows the way for India". The Business Times (Singapore): 1 – via ResearchGate.
  9. ^ "Focus to be on Europe, Africa, Middle East". The Times of India. 28 September 2023. ISSN 0971-8257. Archived from the original on 7 October 2023. Retrieved 22 November 2023.
  10. ^ "Vibrant Gujarat: Govt to hold roadshows in Middle East, Europe". The Indian Express. 22 November 2021. Archived from the original on 22 November 2021. Retrieved 22 November 2023.
  11. ^ "28 countries, 14 organisations confirmed as partners so far for Vibrant Gujarat Global Summit 2024: Govt". The Economic Times. 30 December 2023. ISSN 0013-0389. Retrieved 3 January 2024.
  12. ^ Bureau, The Hindu (12 January 2024). "Vibrant Summit ends with staggering 26.33 lakh crore investment pledges: Gujarat Government". The Hindu. ISSN 0971-751X. Retrieved 21 January 2024. {{cite news}}: |last= has generic name (help)
  13. ^ "Chief Minister inaugurates the 'Vibrant Gujarat-Vibrant Ahmedabad' initiative". CMO Gujarat. Archived from the original on 22 November 2023. Retrieved 19 November 2023.
  14. ^ Mahurkar, Uday (2 May 2014). Centrestage: Inside the Narendra Modi model of governance. Random House India. ISBN 978-81-8400-612-4. Archived from the original on 22 November 2023. Retrieved 19 November 2023.
  15. ^ "Vibrant Gujarat summit helped development reach all sections of society: CM Bhupendra Patel". The Indian Express. 27 September 2023. Archived from the original on 5 October 2023. Retrieved 19 November 2023.
  16. ^ "From 100 participants in 2003, rise and rise of Vibrant Gujarat Global Summit". Hindustan Times. 28 September 2023. Archived from the original on 14 October 2023. Retrieved 19 November 2023.
  17. ^ Nanavati, Arti; Ahmed, Sarah (25 February 2013). India-Canada Trade and FDI Bilateral Flows: Performance, Prospects and Proactive Strategies. Allied Publishers. p. 204. ISBN 978-81-8424-818-0. Archived from the original on 19 November 2023. Retrieved 19 November 2023.
  18. ^ Gujarat: The Growth Engine of India, Success Stories from Industries. iNDEXTb. 2005. Archived from the original on 19 November 2023. Retrieved 19 November 2023.
  19. ^ "Vibrant Gujarat Global Summit has evolved into an institution, says PM Modi". Moneycontrol. 27 September 2023. Archived from the original on 2 October 2023. Retrieved 19 November 2023.
  20. ^ "How vibrant is the Gujarat growth story?". Business Today. 6 February 2013. Archived from the original on 4 October 2022. Retrieved 19 November 2023.
  21. ^ Sandip G. Prajapati (September 2016). "An in depth study on Youths Attitude, perception and satisfaction towards VGGIS organized by government of Gujarat". Department of Commerce and Business Management. RESEARCH HUB International Multidisciplinary Research Journal - [RHIMRJ]. 3: 5. ISSN 2349-7637. Archived from the original on 20 November 2023. Retrieved 20 November 2023 – via Academia.edu.{{cite journal}}: CS1 maint: date and year (link)
  22. ^ "Startup conclave to be organised in Gandhinagar on December 7". The Economic Times. 4 December 2023. ISSN 0013-0389. Archived from the original on 5 December 2023. Retrieved 7 December 2023.
  23. ^ "Startup conclave to be held in G'nagar on Dec 7". The Times of India. 1 September 2023. ISSN 0971-8257. Archived from the original on 5 October 2023. Retrieved 7 December 2023.
  24. ^ "Minister Rajeev Chandrasekhar to participate at the Pre-Vibrant Gujarat Global Summit 2024 events tomorrow". pib.gov.in. Archived from the original on 7 December 2023. Retrieved 7 December 2023.
  25. ^ "In run up to Vibrant Gujarat Summit, Gandhinagar set to host startup conclave". The Indian Express. 5 December 2023. Archived from the original on 6 December 2023. Retrieved 7 December 2023.
  26. ^ "Vibrant Gujarat-Vibrant District programme begins". The Times of India. 2 October 2023. ISSN 0971-8257. Archived from the original on 18 November 2023. Retrieved 18 November 2023.
  27. ^ economypost (6 November 2023). "Gujarat replicates ODOP scheme of UP". (Xclusiv News). Archived from the original on 18 November 2023. Retrieved 18 November 2023.
  28. ^ Bureau, BW Online. "Vibrant Gujarat Vibrant District Programme Concludes In Gujarat With MoUs Worth Rs 45000 Cr". BW Businessworld. Archived from the original on 16 November 2023. Retrieved 19 November 2023. {{cite web}}: |last= has generic name (help)
  29. ^ "Ahmedabad News – Latest & Breaking Ahmedabad News". Ahmedabad Mirror. Archived from the original on 22 November 2023. Retrieved 22 November 2023.
  30. ^ "2,614 MoUs for ₹45k cr signed". The Times of India. 11 November 2023. ISSN 0971-8257. Archived from the original on 18 November 2023. Retrieved 19 November 2023.
  31. ^ "58 MoUs Were Signed With Investment Totalling ₹7.17 Lakh Crore For VGGS 2024 , In The Presence Of CM Shri Bhupendra Patel | CMO Gujarat". cmogujarat.gov.in. Retrieved 14 March 2024.
  32. ^ "MoUs worth ₹7.17L cr signed on Wednesday". The Times of India. 4 January 2024. ISSN 0971-8257. Retrieved 14 March 2024.
  33. ^ www.ETEnergyworld.com. "MoUs for investment worth ₹26.33 lakh crore signed at Vibrant Gujarat Summit 2024: CM Patel - ET EnergyWorld". ETEnergyworld.com. Retrieved 14 March 2024.
  34. ^ "KP Group striding new heights in Renewable Energy". Renewable Mirror. Retrieved 29 January 2024.
  35. ^ "1.3 lakh participants from 140 countries registered for Vibrant Gujarat: State government". The Times of India. 10 January 2024. ISSN 0971-8257. Retrieved 14 March 2024.
  36. ^ ANI (2 January 2023). "Around 100 countries to take part in Vibrant Gujarat Global Summit: GIDC MD Rahul Gupta". Asian News International.
  37. ^ Chaudhury, Dipanjan Roy (3 January 2024). "Russia to send 200 officials and entrepreneurs to Vibrant Gujarat". The Economic Times. ISSN 0013-0389. Retrieved 3 January 2024.
  38. ^ "UAE President Nahyan, Mozambique President Nyusi to visit India for Vibrant Gujarat Summit". WION. 29 December 2023. Retrieved 3 January 2024.
  39. ^ "Global Leaders Convene: Vibrant Gujarat Summit 2024 Gears Up for Economic Advancements". Financialexpress. 30 December 2023. Retrieved 3 January 2024.
  40. ^ Bhattacherjee, Mahesh Langa & Kallol (3 January 2024). "Czech PM to be chief guest at Vibrant Gujarat summit". The Hindu. ISSN 0971-751X. Retrieved 4 January 2024.
  41. ^ DeshGujarat (3 January 2024). "Czech Republic PM likely to be Guest of Honor at 10th Vibrant Gujarat Global Summit". DeshGujarat. Retrieved 3 January 2024.
  42. ^ a b Bureau, BW Online. "Vibrant Gujarat Summit 2024 Seminar To Discuss Aircraft, Aviation Manufacturing Prospects in Gujarat". BW Businessworld. Retrieved 29 December 2023. {{cite web}}: |last= has generic name (help)
  43. ^ a b "Seminar at Vibrant Gujarat Summit 2024 to explore aircraft and aviation manufacturing opportunities in Gujarat". Asian News International.
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