Vibrant Gujarat: Teen signs Rs.5 crore MoU for drones

Vibrant Gujarat Global Summit was launched in 2003 by PM Modi when he was the Chief Minister of Gujarat.

The biennial event, one of the biggest business events in the country, was started "to rekindle the pace of investments in the state" and became a forum for "exchanging ideas, sharing knowledge, networking, exploring business opportunities, signing cooperation agreements and partnerships."

2017 Vibrant Gujarat Global Summit is a 4-day event scheduled from 10-13 Jan, at Mahatma Mandir, Gandhinagar.

The focus of this year's summit is "Sustainable Economic and Social Development".

The summit will see in attendance the heads of states and governments, ministers, corporate leaders, senior policy makers, heads of international institutions from across the world for furthering the cause of development.

Prime Minister Narendra Modi inaugurated the Vibrant Gujarat Summit 2017 at Gujarat's Gandhinagar.

Several business leaders including Reliance Industries chairman Mukesh Ambani, Adani Group chairman Gautam Adani, and Tata Group's patriarch Ratan Tata addressed the event's inauguration ceremony.

The state expects to receive investment proposals to the amount of around Rs.30 lakh crore during the 8th edition of the summit.

Speaking at the Vibrant Gujarat Summit PM Modi said that India's strength lies in democracy, demography and demand.

PM called India the brightest spot in global economy and said that we are now the world's 6th largest manufacturing country in the world.

He also mentioned that the FDI in last two fiscal years was 60% higher than previous two years.

Gujarat Deputy Chief Minister Nitin Patel stated that 24,385 investment intentions were signed with industry giants and various heads of state on the second day of 8th edition of the Vibrant Gujarat Summit being held at Gandhinagar.

He said "over 50 investment proposals were of more than Rs 4000 crore each."

However the total value of the commitments has not been announced yet.

Over 25,000 MoUs were signed at the Vibrant Gujarat Summit 2017.

However, the government is yet to announce the total investment pledged by businesses and governments at the Summit.

The target for this year's summit was 22,000 MoUs, with an investment commitment of Rs.30 lakh crore.

The critics have argued that there is always a disparity between commitments and actual investments.

14 year old Harshwardhan Zala signed a Rs.5 crore memorandum of understanding (MoU) with the Department of Science and Technology, Government of Gujarat.

The drones seek to assist in detection and defusing of mines in war zones.

Zala said he made three prototypes of the drone.

The drone is "equipped with infrared, RGB sensor and thermal meter along with a 21-megapixel camera."