Vibrant Gujarat Summit is back to reinforce Gujarat’s growth story

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Vibrant Gujarat Summit is back to reinforce Gujarat’s growth story

| Updated: January 3, 2024 19:39

Gujarat will host its 10th edition of the biennial Vibrant Gujarat Global Summit (VGGS) in 2024, the event’s first in five years since 2019. Prime Minister Narendra Modi will open the three-day summit on January 10 and 12 in Gandhinagar.

Twenty-eight nations and 14 organisations, including the UK, the UAE, and Australia, have confirmed their participation.

The Vibrant Gujarat Summit, organised by the state government, is a platform for thought leaders, investors, business executives, and policymakers to come together and create new business opportunities, mainly around the Western Indian state.

It may be recalled that the often-exalted Vibrant Gujarat Summit contributed massively to enhance Narendra Modi’s image as the leader of the future.

Cut to the present, it’s undeniable that Gujarat wants to grow its economy to $1 trillion by 2030. It is ready for the world to come to its doorstep this month with billion-dollar investments at the Vibrant Gujarat Summit. The state’s incredible industrial growth and massive projects like the world’s largest hybrid vehicle, Dholera SIR, GIFT city, and DREAM city have captured the attention of both foreign governments and businesses.

As an analysis by News18 rightly points out, ahead of the general elections in 2024, Prime Minister Narendra Modi is riding high in the political polls. Gujarat, his home state, is a particularly appealing place for businesses to locate their operations because of its political stability and continuity.

Weeks before the summit, businesses from a wide range of industries signed preliminary investment agreements worth $18.75 billion for projects they plan to construct in Gujarat, demonstrating the strong level of excitement already present, the report highlights.

This year, the government is giving emerging industries more attention than in the past. These industries include semiconductors, electric vehicles, the manufacturing of aircraft and space technology, green hydrogen, and other products related to renewable energy, the News18 article outlines.

The vision and ambitions of the state government and Prime Minister Narendra Modi himself lend an allure to Gujarat’s megaprojects, drawing interest from investors worldwide.

Among these is the nation’s first smart city, GIFT, or Gujarat International Finance Tec-City, PM Modi’s dream project that is rapidly taking shape. The massive infrastructure project is expected to grow from its current 1,065 acres to nearly 3,365 acres, more than doubling in size.

Also Read, How Gujarat’s Kite Festival Became a Global Attraction and Boost Local Economy?

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