Gujarat CM presents success story of Vibrant Gujarat Summit to industry, financial sector leaders in Mumbai

Mumbai (Maharashtra) [India], October 11 : Gujarat chief minister Bhupendra Patel held a Roadshow organized in Mumbai as a part of the Vibrant Gujarat Global Summit 2024.
He presented the success story of two decades to leading figures from the business and industry, as well as various Consulate Generals of various countries.

Around 35 diplomats and more than 350 leaders from business and industry sectors participated in the Mumbai roadshow.

Ahead of the Roadshow, Chief Minister Bhupendra Patel engaged in one-to-one meetings with 13 leading industry leaders. During these meetings, he elaborated on the success of the Vibrant Gujarat Summit, showcasing how the state has emerged as a role model of development.

The Chief Minister emphasized that the Vibrant Gujarat Summit, initiated by Narendra Modi in 2003 as Chief Minister of Gujarat, has made the state the most preferred investment destination and a centre of major economic activities.
The Chief Minister highlighted that the success of the Summit has propelled Gujarat's GSDP from Rs. 1.42 lakh crore in 2003 to Rs. 22.61 lakh crore in 2023. Not only this, Gujarat's economy has grown at a cumulative annual growth rate of 15 per cent, above the national average.

He further added that under the guidance of the Prime Minister, the state government is organizing the 10th edition of the Vibrant Gujarat Global Summit in January 2024, thus accelerating the legacy of development.

The Chief Minister continued that the Vibrant Summit has successfully brought together global investors and thought leaders onto a single platform. Now, under the visionary leadership of the Prime Minister, this summit has evolved into a global platform of business networking and strategic partnership for socio-economic development.

The Chief Minister said that 38 per cent of the Delhi-Mumbai Industrial Corridor passes through Gujarat. Additionally, work is underway on the high-speed Mumbai-Ahmedabad rail corridor for the bullet train. These pivotal projects will benefit the logistics sector and economic activities of Gujarat and Mumbai.

The Chief Minister remarked that Gujarat's forthcoming wave of economic growth will be driven by forward-looking industrial infrastructure projects such as GIFT City, DREAM City, the Hybrid Solar and Wind Renewable Energy Park, and Dholera SIR.

Prominent financial institutions, such as the World Trade Center, GIFT-NIFTY, and Bank of America, are established within GIFT City. GIFT City takes pride in being home to the nation's inaugural International Bullion Exchange, said the Chief Minister.

Speaking about the diamond industry, The CM emphasized that while Mumbai and Gujarat are renowned for the diamond trade, Surat serves as the central hub for polished diamonds, houses numerous diamond-cutting units, and plays a significant role in the lab-grown diamond industry.

Notably, Gujarat alone contributes to 80 per cent of the nation's diamond exports. Additionally, DREAM City in Surat is under fast-paced development.

Aligning with PM Modi's vision to make India a five trillion USD economy, the CM specifically stated that Gujarat is dedicated to being a leader in fulfilling the PM's vision of making India a USD 5 trillion economy

To achieve this, the goal is to attain a Compound Annual Growth Rate (CAGR) of 14 per cent by 2027 within crucial manufacturing sectors, including Semiconductor Manufacturing, Green Hydrogen, Electric Vehicles (EV), Pharmaceuticals, Textiles, and Technical Textiles, among others.

We will actively embody the theme "Gateway to the Future" by organizing seminars and events dedicated to emerging sectors in the forthcoming Vibrant Summit, the Chief Minister added.
He extended an invitation to leaders of the trade, industry, and finance sectors, to participate in the Vibrant Summit 2024 and harness the vast growth potential across various sectors in Gujarat.

The event was graced by the presence of several distinguished dignitaries including Gujarat's Finance and Energy Minister, Kanubhai Desai, Industries Minister, Balwantsinh Rajput, Minister of State, Jagdish Vishwakarma, Chief Principal Secretary to the Chief Minister, K Kailashnathan, and senior secretaries.

During his address at the event, Chief Secretary Raj Kumar highlighted that Gujarat has become the Best Choice of Investment for foreign investors, due to proactive policy-making, a conducive business environment, and an investor-friendly approach.

The Chief Secretary invited everyone to the Vibrant Summit-2024, with the goal of cementing Gujarat's position on the global business map in trade, industry, and investments, thereby forging a prosperous future.

SJ Haider, the Additional Chief Secretary of the Industries Department, narrated the two decades of Vibrant Summit's success through a comprehensive presentation.

Dhanraj Nathwani, Group President of Reliance Industries and Country Head of Bank of America, Kaku Nakhate, along with Kulin Lalbhai of Arvind Limited, shared their experiences at the Vibrant Summit and lauded the investor-friendly environment in Gujarat.

The President Designate of CII, Shri Sanjiv Puri, extended a warm welcome to all attendees.