Gujarat Chief Minister Bhupendra Patel made his presence felt at at a roadshow held in Mumbai ahead 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 attended.
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 emphasised that the Summit, initiated by Narendra Modi in 2003 as Chief Minister of Gujarat, turned the state into the most preferred investment destination and a centre of major economic activities.
Patel highlighted the successes of the Summit, including propelling 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%, above the national average. He went on to say the Vibrant Summit 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 worldwide platform of networking and strategic partnership for socio-economic development.”
The Chief Minister noted that 38% 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, 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, which takes pride in being home to the nation’s inaugural International Bullion Exchange.”
Mentioning the diamond industry, the CM emphasised that Surat serves as a 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% 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 $5 trillion economy, the CM stated that Gujarat is dedicated to lead the intiative.
“To achieve this, the goal is to attain a Compound Annual Growth Rate (CAGR) of 14% 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 organising 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.
During the event, Chief Secretary Raj Kumar said 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.