Vibrant Gujarat Summit Highlights: ‘Over 1 lakh startups in India, investment worth billions', says PM Modi

Union Commerce and Industry Minister Piyush Goyal on Wednesday said the PM Gati Shakti mechanism, a technology-backed infrastructure development platform implemented by the Narendra Modi government, will become a planning tool for the entire world in the years to come. Goyal made the comments while addressing a seminar on 'PM Gati Shakti: Informed Decision Making for Holistic Development' organised at Mahatma Mandir convention centre here as part of the Vibrant Gujarat Global Summit 2024 which was inaugurated by Prime Minister Narendra Modi earlier in the day.

Prime Minister Narendra Modi on Wednesday shared glimpses of the Vibrant Gujarat Summit, calling it a great forum to share perspectives on economic growth, reforms and strengthening India's development journey.

"Some glimpses from today's @VibrantGujarat Summit - a great forum to share perspectives on economic growth, reforms and strengthen our development journey," the PM wrote on 'X'.

Meanwhile, Foreign Secretary Vinay Kwatra has called the ongoing Vibrant Gujarat Global Summit in Gandhinagar the first one in the 'Amrit Kaal' period and said the summit has become synonymous with India's economic resurgence.

About 1.3 lakh participants from 140 countries have registered for the 10th edition of Vibrant Gujarat Global Summit, which has also emerged as a forum for discussions on global priorities and concerns, a senior government official said here.

VGGS 2024 was inaugurated by Prime Minister Narendra Modi earlier in the day.

SJ Haider, additional chief secretary of industries and mines department, said that 35 countries came onboard as partner nations for the three-day VGGS, up from 15 during the event in 2019.

Amid speculation that Elon Musk will visit Gujarat, a senior government official on Wednesday said the billionaire-founder of Tesla is not coming for the ongoing Vibrant Gujarat Global Summit, but they are welcome to invest in the state.

The state is very keen to get Tesla if it comes to India, Managing Director of Gujarat Industrial Development Corporation Rahul Gupta said.

He also said the state is already home to a slew of electric vehicle manufacturers.

To a specific question on whether Musk is expected to attend the three-day event inaugurated by Prime Minister Narendra Modi earlier in the day, a state government official replied in the negative.

PTI

At the Vibrant Gujarat Summit in Gandhinagar, Union Commerce & Industry Minister Piyush Goyal says, "PM Gati Shakti, in the years to come, will become the planning tool of infrastructure not only for Asia but the entire world."

Asserting that 'Viksit Bharat' is not just a dream but a possibility, NITI Aayog CEO BVR Subrahmanyam on Wednesday said by most conservative estimates, India will be a USD 30 trillion economy by 2047.

Speaking at the 10th Vibrant Gujarat Global Summit here, Subrahmanyam further said India is in a position to take a quantum leap.

"Viksit Bharat is not just a dream, it's a possibility," he said.

According to him, a vision document is being prepared for India to become a developed economy of USD 30 trillion by 2047, and it will be released by the Prime Minister by the end of January.

PTI

On the inaugural day of the Vibrant Gujarat Global Summit, Nepal's Finance Minister Prakash Sharan Mahat made a groundbreaking announcement. He revealed a historic long-term power purchase agreement between Nepal and India, ANI reported.

According to the agreement, Nepal will export 10,000 megawatts (MW) of electricity to India over the next decade, signifying a major achievement in the energy collaboration between the two neighboring countries.

The inauguration day of the Vibrant Gujarat Global Summit witnessed a momentous announcement by Ryad Mezzour, Minister of Industry & Commerce of Morocco, as he highlighted Bharat's prowess as the best and most competitive country in car production.

Minister Mezzour proposed a robust collaboration between Morocco and Bharat, emphasising the potential for a South-South triangular cooperation that could stimulate growth not only in Africa and India but also on a global scale.

Minister Mezzour said, "The best and most competitive country in producing cars is Bharat. Moreover, thanks to our ideal position as a continental and world-class hub. Morocco and Bharat can work closely through a South-South triangular cooperation to promote growth in Africa, India and the world".

ANI

Lauding the ties between the two nations, the UK Minister of State, Lord Tariq Ahmed, said that PM Modi defined the living bridge between the United Kingdom and India. He also conveyed British Prime Minister Rishi Sunak's greetings to his Indian counterpart, PM Modi.

Addressing the Vibrant Gujarat Summit today, the British Minister said that the summit has truly, in every sense, served as a master class on how to go about attracting global investors.

"PM Modi, you defined the living bridge between the United Kingdom and India. I want to extend the greetings from my Prime Minister Rishi Sunak, the son-in-law of India. This Summit has truly in every sense served as a master class on how to go about attracting Global investors. Our nations may be separated by thousands of miles geographically, but that vast distance can diminish with the warmth between our people, that living bridge and there is so much in common between our two nations..." he said.

ANI

At Vibrant Gujarat summit in Gandhinagar, Lakshmi Mittal, Executive Chairman of ArcelorMittal says, "I am quite confident that India can achieve 5 trillion dollar economy target. We will continue to expand our business in steel & mining, and we are also entering into renewable energy. We've signed big MoUs."

The Prime Minister of the Czech Republic, Petr Fiala has said that the potential for Czech-Indian collaboration is great not only in energy but also in wastewater treatment or sustainable agriculture, and added that he is interested in long-term strategic investment.

He said that the strategic investments would include AI (Artificial Intelligence) research and especially semiconductors.

Prime Minister Narendra Modi shares a candid moment with Ryad Mezzour, Minister of Industry & Commerce, Morocco as he leaves after concluding his address at Vibrant Gujarat Global Summit 2024.

Vice President of Adani Enterprises, Jeet Adani said to ANI "...What you see here, this entire platform is more than 70%-80% indigenised, which means everything is manufactured in this facility that you see over here, along with the vendor ecosystem that we've developed over the last twelve months. In terms of its abilities, it's a medium altitude, low endurance machine. So it's meant for 1000 miles sort of operational range and as you may have heard the chief of Naval staff talk about it earlier today, what this is primarily going to augment is their anti-piracy and seaborne missions..."

Narendra Modi is India's most successful Prime Minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion ( ₹12 lakh crore) investment in last 10 years.

With Prime Minister Modi on the dias, Ambani termed the biennial Vibrant Gujarat Global Summit -- which was conceived when Modi was chief minister of the state two decades back -- as "the most prestigious investor summit in the world".

PM Modi said during the Gujarat summit, “The world looks at India as an important pillar of stability; a friend who can be trusted, a partner who believes in people's centric development, a voice that believes in global good, and a voice of the global south.”

After the inauguration ceremony of the Vibrant Gujarat Summit concluded at 1 pm, President of UAE, Mohamed bin Zayed Al Nahyan took his leave from Gujarat.

PM Modi said during the summit, “We are all aware of the global circumstances. So, in times like these, if the Indian economy is displaying such resistance, if the growth in India is showing such momentum, a big reason behind this is our focus on structural reforms in the last 10 years. These reforms have enhanced the capacity, capability and competitiveness of India's economy.”

PM Modi said that all the major agencies estimate that India will be in the top three economies of the world in the coming years. He expressed confidence that this will happen soon, speaking on how Indian economy has grown over the last decade.

PM Modi hailed the growing startup culture and said that there are over one lakh startups in India, with investment worth billions being made in Indian ports.

PM Modi said at the Vibrant Gujarat Summit 2024, "Agreements have been signed for new investments worth billions of dollars in India's port infrastructure by the companies from UAE..."

Gautam Adani announced an investment of over ₹2 lakh crore in Gujarat during the VGGS 2024. Read more.