PM Modi inaugurates Vibrant Gujarat Global Summit

11 Jan 2017 | Written by Vijaya ; Edited by NewsBytes Desk

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.

In context: Vibrant Gujarat Summit 2017

SummaryVibrant Gujarat Summit

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."

Last summit investment details

The last Vibrant Gujarat summit, held in 2015, drew investment proposals worth Rs. 25 lakh crore.
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2017 edition of Vibrant Gujarat Summit

Schedule2017 edition of Vibrant Gujarat Summit

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.

Event agenda

Day 1 includes inauguration ceremony by PM Modi, and Global CEO roundtable chaired by him. Day 2 will have the GST seminar attended by Arun Jaitley and RBI Governor, and various state, country seminars. Day 3 & 4 will include B2B meetings, and more seminars.

11 Jan 2017PM Modi inaugurates Vibrant Gujarat Global Summit

11 Jan 2017Highlights of PM's speech

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.

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12 Jan 2017Over 24,000 investment intentions signed at Vibrant Gujarat 2017

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.

13 Jan 201725,000+ MoUs signed at Vibrant Gujarat 2017

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.

13 Jan 2017Vibrant Gujarat: Teen signs Rs.5 crore MoU for drones

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."