Prime Minister Narendra Modi speaking at the Vibrant Gujarat Summit 2015.US Secretary of State John Kerry addresses attendees at Vibrant Gujarat Summit 2015.
Vibrant Gujarat, also referred to as Vibrant Gujarat Global Summit, is a biennial investors' global business event that is held in the state of Gujarat, India.[1] The event is aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit is advertised as a platform to understand and explore business opportunities in Gujarat.[2] The summit's primary objective is to promote Gujarat as an attractive investment destination and to facilitate partnerships and collaborations across different sectors.[3] Summit began in 2003 and is now held every two years.[4]
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.[4] It is organized by the Government of Gujarat and supported by various industry associations, both at the national and international levels.[5] The summit's primary objective is to promote Gujarat as an attractive investment destination and to facilitate partnerships and collaborations across different sectors.[6] 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.[7] During the Vibrant Summit series, thousands of MOUs were signed and billions of dollars were spent in Gujarat (2003–76 MOUs worth USD 14 billions, 2005–226 MOUs worth USD 20 billions, 2007–675 MOUs worth USD 152 billions, 2009–8662 MOUs worth USD 243 billions, 2011–7936 MOUs worth USD 462 billions).[8][9]
The conventions during the programme had sectoral sessions focus sector – Industrial Investment, Agro-Processing, Biotech- Pharma, Natural Gas and Oil, Infrastructure, Mining, Tourism, Apparels and Gems-Jewellery at Ahmedabad and sectoral sessions on Garment & Textiles and Gems & Jewellery at surat . There were also exhibitions in above sectors at respective places in Ahmedabad and Surat to provide a platform for showcasing products and services. One-to-one discussions between the prospective investors, government officials and the project promoters took place.[12]
About 1,000 business delegates, 125 foreign delegates, 200 Non-Resident Indians, 200 leading dignitaries and other participants from about 45 countries participated in Navratri festival. A large number of corporate leaders like Subhir Raha, C K Birla, CEOs of multinational companies like Shell, British Gas, General Motors, P&O ports, Niko & Steag and others attended the event. International dignitaries like Larry Pressler, ex-US Senator; Michael Clarke graced the occasion.[15]
MoUs, IEMs, and concrete business plans in the form of proposals worth Rs 55,000 crore were registered with the government.[16] These proposals were submitted in a variety of industries, including electricity, oil and gas, petrochemicals, tourism, biotechnology, agro-foods, research, gems and jewelry, and technical education. 176 project proposals were compiled and were then scrutinized for their viability. Internationally reputed credit rating agencies like CRISIL and CARE lend their support as the financial advisors to these projects. Leading private and public sector banks of India like ICICI, IDBI, State Bank of India, Bank of Baroda, State Bank of Saurashtra, Corporation Bank, IDFC and NABARD have extended their support for financing these projects. CRISIL also worked with iNDEXTb in structuring these projects. At the end of the event, 76 memorandums of understanding (MoU) worth US$14 billion for investment were signed.[17][15]
2005
2005 Vibrant Gujarat Global Investor's Summit was a two-day event organized in India. It started with the Vice President of India, Bhairon Singh Shekhawat, inaugurating the ceremony. More than 6,000 people attended the inaugural ceremony. The dignitaries present at the ceremony included industry representatives, foreign multinationals, NRIs as well as the business from various sections of the society, India. Mukesh Ambani of Reliance Industries, Gautam Adani of the Adani Group, Shashi Ruia of Essar, Nigel Shaw of British Gas and so on. MoUs for setting up projects worth INR 870 Billion were signed on the first day itself.[18][19]
To invite participation from global players, five delegations Led by senior Ministers of Gujarat Cabinet visited different parts of the world to hold discussions with NRIs, NRGs (Non Residential Gujaratis) and foreign investors. From amongst them, several investors and NRIs participated in the event. The summit was planned to coincide with Gujarat's famous Kite festival, Uttarayan, which marks a change of season with the movement of the sun into the northern hemisphere. Sectoral theme pavilions showcasing the strength of Gujarat in the relevant areas were developed. Major industries, Government corporations and Institutions participated in each sector. The event also hosted an exhibition along with seminars on the focus areas for investment in the state. These were IT, Biotech, Agro, Energy, Gas, Petroleum, Non-conventional Energy, Port & port-Led industries, Financial Services, Textiles and Apparels, Gems & Jewellery, Tourism etc. The exhibition was held at the Science City which have more than 200 exhibitors from various sectors. The exhibitions attracted visitors from within the state and outside.
On the first day, the focus sectors were Information Technology, Biotechnology, Agro, Energy, Gas, Petroleum and more importantly Non-conventional Sources of Energy. Seminars and meetings were held in three different halls at the Science City. Potential investors and industrialists had one-to-one meetings with senior officials of the state government and ministers of the cabinet. The concluding day maintained the same momentum and enthusiasm as that of the first day with MoUs being signed by Industry. Several new MoUs were signed in the focus sectors of the day–Agriculture, Engineering, Tourism, Urban Development, Chemicals and Pharmaceuticals, Port & Port Led development, Textiles, Gems & Jewellery. By the time the Summit concluded on the second day, investments worth INR 1060 Billion in the form of MoUs were signed with 226 units. The concluding ceremony was graced by the Union Minister for Commerce & Industry Shri Kamal Nath,
The 227 project proposals totaling Rs 1.06 lakh crore that were submitted during the 2005 summit, 85 projects costing Rs 65,000 crore are currently in the execution stage, and 84 projects with an investment of Rs 23,000 crore have already entered production. Of these, twenty-four are in an advanced stage. 76 proposals totaling Rs 66,000 crore were signed during the 2005 summit; of these, 29 projects worth Rs 22,000 crore have entered production and 21 projects worth Rs 39,000 crore are now being carried out.[20]
2007
The Government of Gujarat hosted the 2007 Vibrant Gujarat Global Investors' Summit on 12 and 13 January at Ahmedabad. This was the third such Summit organized by the state government with the first Summit held in 2003 and the second held in 2005. The Vibrant Gujarat Global Investors’ Summit 2007 event was spread over a period of 4 days. On 10 January 2007, a multimedia exhibition-Eternal Gandhi–on life and philosophy of Mahatma Gandhi was inaugurated at Science city, Ahmedabad. On 11 January, an exhibition showcasing the strengths and advantages of the various industries in Gujarat named “Gujarat Discovered” and the International Kite festival at the Sabarmati Riverfront Development site was opened. 12 January saw the inauguration of Global Investors’ Summit at the Science city.[21][22]
Events were attended by Ratan Tata, Mukesh Ambani, Kumarmangalam Birla, Anil Ambani, and Shashi Ruia. Investment bids totaling more than Rs 4.5 lakh crore, spanning across several industries such as ports, power, textiles, agro-processing, biotechnology, and tourism, with the potential to generate over six lakh jobs, were selected.[23][24]
2009
The Government of Gujarat organized the 4th biennial Global Investors' Summit during 12–13 January 2009. Based on the theme 'Gujarat Going Global' and aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit served as a perfect platform to understand and explore business opportunities with the State of Gujarat.[25]
Indian Businessmen, including Ratan Tata, Chairman, Tata Group, KV Kamath, Chairman ICICI and President CII, Mukesh Ambani, Chairman, Reliance Industries, Kumar Mangalam Birla, Chairman, Birla Group, Shashi Ruia, Chairman, Essar Group, Mr, Anil Ambani, Chairman, ADAG Group, Sunil Mittal, Chairman, Bharti Enterprise among several other dignitaries. Several political dignitaries from various countries such as Japan, UK, China, Russia, Canada, Israel, Poland, Korea, UAE, Malawi, Indonesia, Oman, Kenya, Italy, Singapore, Trinidad & Tobago, Vietnam, Uganda, Zimbabwe and Maldives had participated. Japan was the Partner Country to this Summit. This being the first time any country has agreed to partner with a State of another country. Japan External Trade Organisation (JETRO) was designated as the partner organization. Japan also reciprocated Gujarat's initiatives for mutual economic cooperation by sending two senior level delegations, led by Hideaki Domichi, the Ambassador of Japan to India and Heizo Takenaka, Former Minister of Economic & Fiscal Policy of Japan. The maximum number of delegates was from Japan, totalling to over 70 members.[26][27]
During the course of two days, 8500 MoUs worth US$243 billion (over Rs. 12,000 lakh crore) are signed. The summit witnessed participation of delegates from 45 countries, amounting to over 600 foreign delegates.[28]
2011
Vibrant Gujarat 2011 Summit was held at Gandhinagar on 12–13 January 2011. It is to be held at a special site dedicated for Vibrant Gujarat named Mahatma mandir situated at Gandhinagar sector 13. About 7936 MoUs were signed worth $462 billion in the two days.[29]
2013
Vibrant Gujarat 2013 Summit was held for the second time in Gandhinagar on 12–13 January 2013 Mahatma mandir.[30] Besides Gujarat it will also host a number of other Indian states like Karnataka and Developed and Developing Countries like Mozambique, Canada, United Kingdom, Japan.[31]
2015
The 7th Vibrant Gujarat Summit was planned during 11 to 13 January 2015 at Mahatma Mandir, Gandhinagar, Gujarat, India. Six summits held so far had been a resounding success and immensely contributed to the transformation of Gujarat into a "Global Business Hub". The prime focus of Government of Gujarat was Inclusive development and the key areas for development identified included: Innovation, Sustainability, Youth & Skill Development, Knowledge Sharing and Networking. This Summit was an ideal platform for other states and countries to showcase their strengths, highlight business opportunities, facilitate knowledge dissemination etc.
Apart from Summit, Vibrant Gujarat is also known for the Trade Shows. Every year 2000+ Companies do participate in this exhibition, and around 1 million visitors participated in Vibrant Gujarat 2015.
Details about participation of prominent foreign dignitaries and their views about VG & Gujarat
Over 25,000 Delegates from India and 110 other countries participated in the 7th Vibrant Gujarat Summit 2015. Following are the dignitaries and diplomats who marked their presence in Vibrant Gujarat 2015:
a. Mr. Narendra Modi, Hon’ble Prime Minister
b. Mr. Tshering Tobgay, Hon’ble Prime Minister, Bhutan
c. Mr. Nikola Gru`evski, Hon’ble Prime Minister, Republic of Macedonia
d. Mr. Ban Ki Moon, Secretary General, United Nations
e. Mr. John Kerry, Secretary of State, USA
f. Mr. Jim Yong Kim, President, World Bank
g. Mr. Sam Walsh, CEO, Rio Tinto, Australia
h. Mr. Mukesh Ambani, Chairman, Reliance Industries Ltd.
i. Mr. Kumar MangalamBirla, Chairman, Aditya Birla Group
j. Mr. Ajaypal Singh Banga, President, USIBC
k. Mr.Yosuke Takagi, Hon’ble State Minister, Ministry of Economy, Trade & Industry, Govt. of Japan
John Kerry, Secretary of State, USA, said, “PM Modi’s Sabka Saath Sabka Vikas sounds like a pretty slogan for all of us to adopt.”
Jim Yong Kim, President, World Bank, said, “We believe India should be the leader in eliminating poverty; it’s a radical and unique opportunity over the next decade.”
Mukesh Ambani, Chairman, Reliance Industries Ltd., said, “I urge each and every investor to follow our path and invest in Gujarat, just as we did.”
Tshering Tobgay, Hon’blePrime Minister, Bhutan, said, “I am here on my economic pilgrimage”
Sam Walsh, CEO, Rio Tinto, Australia, said, “We will add 30,000 Jobs in diamond cutting industry in Gujarat. Looking forward to impetus that Vibrant Gujarat will provide.”
Yosuke Takagi, Hon’bleState Minister, Ministry of Economy, Trade & Industry, Govt. of Japan, said, “Japan is incomplete without India, India is incomplete without Japan.”
2017
After organizing seven successful Summits, Government of Gujarat moved further in its journey towards sustainable long-term growth and inclusive development by organizing the 8th edition of Vibrant Gujarat Global Summit from 10 to 13 January 2017 at Mahatma mandir, Gandhinagar. The central focus of the 8th edition of the Vibrant Gujarat Global Summit was “Sustainable Economic and Social Development”. The Summit brought together Heads of States and Governments, Ministers, Leaders of the Corporate World, Senior Policy Makers, Heads of International Institutions and Academia from around the world to further the cause of development and promote cooperation.
Gujarat Chief Minister Vijay Rupani declared conclusion of the 8th edition of Vibrant Gujarat Global Summit, at Mahatma Mandir on 12 January 2017, on a politically confident note, by inviting all the guests for the next edition of the biennial event in January 2019 even as the state is scheduled to go for assembly elections in 2017. A total of 25,578 Memorandum of Understanding (MoUs) were declared to have been signed by different industrial units. Out of the signed MOUs, 18,533 were from MSME sector, 5,938 from the large-scale sector and 1,107 MOUs were for strategic and technological partnership sector. However, the number of the total worth of MOUs was not declared.[32][33]
2019
9th Vibrant Gujarat Global Summit is scheduled on 18–20 January 2019.[34] Vibrant Gujarat Global Summit 2019 (VGGS) expects to see commitment of investments worth a whopping Rs 50,000 crore in the renewable energy sector in the state.[35] This year United Arab Emirates, Uzbekistan & Morocco are the partner countries for 9th edition of Vibrant Gujarat.[36] The venue for 9th Vibrant Gujarat Global Summit is Mahatma Mandir, Gandhinagar.[37] Kiran vora Solvay S.A., is likely to sign Rs 560-cr MoU for setting up Dahej plant.[38] also MoU for country's first CNG terminal to be signed at Vibrant summit 2019.[39] President of Uzbekistan Shavkat Mirziyoyev attended the Vibrant Gujarat international investment summit as a key guest in a first Central Asian country to participate as a country partner in the flagship investment summit of Gujarat.[40]
Pre-Summit MoUs: Gujarat had signed MoUs for proposed investments totaling Rs 7,12,250 crores. These agreements estimated the creation of 3,70,165 direct and indirect employment opportunities.[52][53]
Summit MoUs: During the 10th edition of the Vibrant Summit, Gujarat signed the total investment commitment to more than Rs 45 lakh crore across 98,540 projects.[54]
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.[55]
Reliance Industries Limited is an Indian multinational conglomerate headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports. The company has relatively little free cash flow and high corporate debt.
Mukesh Dhirubhai Ambani is an Indian businessman and the chairman and managing director of Reliance Industries. With an estimated net worth of $113.7 billion as of March 2024, he is the richest person in Asia and 11th richest in the world. Sometimes characterized as a plutocrat, he has attracted both fame and notoriety for reports of market manipulation, political corruption, cronyism, and exploitation.
Gautam Shantilal Adani is an Indian billionaire business magnate who is the founder and chairman of the Adani Group, a multinational conglomerate involved in port development and operations in India.
The economy of Gujarat, a state in Western India, is the most industrialised in India, having the highest industrial output of any state in the union.It has the highest exports of any Indian state, accounting for 33% of all Indian exports in 2022-23. It leads in diverse industrial sectors such as chemicals, petrochemicals, dairy, drugs and pharmaceuticals, cement and ceramics, gems and jewellery, textiles and engineering. It has the highest Electricity Production Capacity and Maritime Port Cargo Volume among all states in India. It also has significant agricultural production with major agricultural produce of the state being cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Gujarat recorded the lowest unemployment rate in India in 2022, with 4.4% of the labour force being unemployed.
Essar Group is an Indian multinational conglomerate company, founded by Shashi Ruia and Ravi Ruia in 1969. The company, known as Essar Global Fund Limited (EGFL), owns a variety of assets in the core sectors of energy, infrastructure & logistics, metals & mining, technology, and retail. EGFL holds a nearly 100% stake in all its investments.
Ahmedabad Metro is a rapid transit system for the cities of Ahmedabad and Gandhinagar in Gujarat state of India.
Mahatma Mandir is a convention and exhibition centre located at sector 13 C in Gandhinagar, Gujarat, India. It is inspired by the life and philosophy of Mahatma Gandhi. It is one of the biggest convention centres in India, spread over an area of 34 acres. It was developed by the Government of Gujarat. Business summits like Vibrant Gujarat Global Investor Summit 2011, 2013, 2015, 2017 and 2019 were organised here.
Global Investors Summit, officially the Invest Madhya Pradesh Global Investors Summit or GIS is a biennial business summit organized by Government of Madhya Pradesh in Indore, the commercial capital of central India to attract domestic and foreign investment for development of the state. Based on the theme– India's Growth Centre and aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit serves as a perfect platform to understand and explore business opportunities in the State of Madhya Pradesh.
ReNew Energy Global is a decarbonisation solutions company based in India. It is the first Indian renewable energy company to be listed on NASDAQ. ReNew operates more than 140 projects spread across nine states in India. The company provides decarbonisation solutions through a mix of green hydrogen, data-driven solutions, storage, manufacturing, and carbon markets.
Make in India is an initiative by the Government of India to create and encourage companies to develop, manufacture and assemble products made in India and incentivize dedicated investments into manufacturing. The policy approach was to create a conducive environment for investments, develop a modern and efficient infrastructure, and open up new sectors for foreign capital. The initiative targeted 25 economic sectors for job creation and skill enhancement, and aimed "to transform India into a global design and manufacturing export hub."
The Sagarmala Programme is an initiative by the Government of India to enhance the performance of the country's logistics sector. The programme envisages unlocking the potential of waterways and the coastline to minimize infrastructural investments required to meet these targets.
Early in the twenty-first century, foreign investment as well as government regulations and incentives promoted growth in the Indian electronics industry. The semiconductor industry, which is its most important and resource-intensive sector, profited from the rapid growth in domestic demand. Many industries, including telecommunications, information technology, automotive, engineering, medical electronics, electricity and solar photovoltaic, defense and aerospace, consumer electronics, and appliances, required semiconductors. However, as of 2015, progress was threatened by the talent gap in the Indian sector, since 65 to 70 percent of the market was dependent on imports.
Make in Odisha is an initiative launched by the Government of Odisha for industrial growth in the State. The major investors in the state are NTPC, MCL, SAIL, Tata Steel, TCS, Adani, JSPL, PPL, IOCL and many more. Over 80 companies investing and The state has received investment worth Rs 2,03,270 crore. Major investment sector are IT, fertiliser, petro chemicals, food processing, health, infrastructure, ESDM, metal and minerals, manufacturing, textiles and tourism. The Make in Odisha conclave happens bi-annually. There are two Make in Odisha conclaves completed with crores of investment proposals and the third edition will be held between 30 November to 4 December 2020.
The Adarsh Credit Co-operative Society (ACCS) is a Ponzi scheme fraudulently registered under the MSCS Act w.e.f. 1986. It opened in 1999, primarily to bluff the public in Rajasthan, and all money has been siphoned off by the family members of the owners to buy properties and dupe investors of funds worth Rs. 8,000 Crore.
Assam Global Investors' Summit or Advantage Assam Global Investors' Summit on 3–4 February 2018 was an economic summit organised by the Government of Assam. The main aim of the summit is to increase the trade and other relations with Southeast Asia. Members and Delegates from ASEAN and BBIN countries along with industrialists and business leaders of India and around the world are invited in this summit. The Summit aims at highlighting the geo-strategic advantages offered to investors by Assam. The summit will also focus on India's Act East Policy which will help in achieving balanced and fast-paced growth of the north-eastern region and development of MSME sector.
Magnetic Maharashtra is a summit held in Maharashtra, India, aimed to attract investment into the economy of Maharashtra.
Tamil Nadu Global Investors Meet (TNGIM) is a business summit organized by Government of Tamil Nadu to facilitate domestic and foreign investments in the state. The first of these summits took place in 2015 and later in 2019. The next meet is scheduled to take place in January 2024.
Jio Platforms is an Indian multinational technology company, headquartered in Mumbai, Maharashtra, India. It is a subsidiary of Reliance Industries. Established in 2019, it acts as a holding company for India's largest mobile network operator, Jio, and other digital businesses of Reliance.
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. 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.
The Startup Conclave 2023 was held in Gandhinagar, Gujarat, India, on 7 December 2023. 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 USD 340.80 billion. Of these, 44 unicorns with a valuation of roughly USD 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.
Investor Facilitation Portal (IFP): Single window mechanism for those who wants to invest in Gujarat. An online Memorandum of Understanding (MoU) filling system and a system to check the status of applications by state authorities and investors.
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