Vibrant Gujarat: An Infallible Step To Attract Investment In Gujarat?

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An initiative, which was taken after Gujarat suffered the earthquake in 2001 and the infamous riots in 2002, has come a long way over the past 12 years. The seventh edition of Vibrant Gujarat was inaugurated by Prime Minister, Narendra Modi on Sunday morning. Here are some of the important facts that you need to know about the Vibrant Gujarat Summit:

  • It was initiated by Narendra Modi in 2003. It is the seventh edition of the event, which takes place every two years.
  • Modi’s main objective behind starting Vibrant Gujarat was to slowly help the state blur the gory memories and overcome the damage of the 2002 riots and the earthquake, and to spur economic growth in the state.
  • The main attraction of this year’s event is John Kerry, Secretary of State of the United States. It’s the first time in 12 years that the US has decided to register its presence as a partner country in the event. United Nations Secretary General, Ban Ki-Moon too is attending the mega event.

The Vibrant Gujarat Summit is taking place at Mahatma Mandir in Gandhinagar, Gujarat between January 11 and 13. Businesses from all over the world are asked to register their presence in this event. After the unparalleled success of the previous editions, the government of Gujarat is hopeful that this year’s Vibrant Gujarat will write a new and an even bigger success story. According to reports, during the 2011 edition of Vibrant Gujarat, memorandums of understanding worth 20 lakh crores were signed, while in the 2013 edition, the government claimed that agreements worth 10 lakh crore were signed.

Even though the opposition claims that these reports are highly exaggerated and not even one-third of them have translated into actual investment, the current government has claimed that over 60 percent of the agreements have in fact moved ahead. Whatever be the case, the Summit has continually been successful in grabbing the attention of Indian as well as global business tycoons. This year’s edition is being touted as the most sought after, and the biggest ever, as businesses and political leaders from all over the world mark their attendance at the Summit.

Apart from John Kerry and Ban-Ki-Moon, the event is hosting several other distinguished guests, including ministers from Japan, Europe, Australia, and Canada. More than 50 CEOs of different Indian, as well as international companies, are expected to register their presence in the event which will bring down the curtains on January 13. The government of Gujarat expects to sign over 20,000 EoI (Expression of Interest) during the three-day long Summit.

At a time when most of the states are busy battling their own issues resulting from petty and divisive politics, this initiative of the Prime Minister and the Gujarat Government should be taken as an inspiration. Those in the opposition across the country should understand that growth is not achieved by increasing fuel prices, but by taking initiatives like the one that the Gujarat Government has taken.

Bhupendra Sharma

Image Source: [Google]