The valedictory ceremony of the 10th edition of the Vibrant Gujarat Global Summit took place at Mahatma Mandir, Gandhinagar, recently. During the closing session of this three-day summit, attended by numerous presidents, diplomats, and business leaders from both India and abroad, Union Home and Cooperation Minister Shri Amit Shah said that while the first of Amrit Kaal and the 10th Vibrant Gujarat Global Summit in Gujarat has physically concluded, the resolutions made during this summit represent a remarkable achievement and empowerment. He noted that since the inaugural summit in 2003, it has strengthened the path of "Sankalp Thi Siddhi" (determination to accomplishment). Today, India stands as the foremost choice globally for manufacturing and investment, with Gujarat being the preferred destination within India.
In 2014, when Shri Narendra Modi took the helm of the country, India was ranked 11th in the economy, and today it holds the fifth position globally. Sooner or later it is a certainty that India will be ranked amongst the top 3 in the world. The G-20 summit, held under India's chairmanship, had the mantra of 'One Earth, One Family, One Future,' and India is proud to emerge as a global friend with the spirit of ‘Vasudhaiva Kutumbakam.’
The Vibrant Gujarat Global Summit has proven to be a platform for new ideas and innovation. Gujarat has successfully attracted global investments in a result-oriented manner, setting an example for many states in the country. There is no doubt that various states following this path will achieve new milestonesin the country.
One needs to acknowledge the summit held in Gujarat under the leadership of Chief Minister Bhupendra Patel as a grand success. The participation of 4 heads of state, representatives from 100 countries, and 16 country partners is a success story in itself. Narendra Modi's idea of GIFT City in 2007 has flourished, and Dholera (SIR) has proved critics wrong, with Mandal Becharaji emerging as an auto hub, and investments increasing in Gujarat due to the construction of Petrochemical in Dahej, Bulk Drug Park in Bharuch, and BioTechnology Park in Vadodara. There is not asingle iota of doubt that Gujarat has become the gateway to ‘Viksit Bharat.’
While it is clear that Gujarat has become a pivot for the development of the country as a whole, it is also to be remembered that Narendra Modi was the man behind this change in the fortunes of the state.PM Narendra Modi, while being the CM of Gujarat, had adopted structural reforms, leading to increased performance and the transformation of the economy of the state. Gujarat once considered a dark spot on the world map, is now known as a vibrant spot. Due to corruption-free governance, a peaceful environment, and transparent governance, Gujarat has become the preferred choice for investors worldwide. Under the leadership of Prime Minister Narendra Modi, who tackled policy paralysis, Gujarat has become a policy-driven state.
India is now a leader in the futuristic economy, pioneering in emerging fields like semiconductors, green technology, and biofuels. The credit goes to the state government of Gujarat for making policies result-oriented on the ground.
In the future, India aims to become the education hub of the world, with policies focused on both the health and education sectors. India is also leading in the fields of electric vehicles and the Green Hydrogen mission. The space sector, which had an investment of $9 billion at one time, is expected to reach $40 billion by 2040.
Vibrant Summit is the finest endeavour to unlock the doors to the state's golden future. Industrialists and representatives from both domestic and international sectors who participated in the success of Gujarat's Vibrant Summit have expressed confidence in Gujarat's peace, security, and the business-friendly initiatives of the state government. Consequently, Gujarat has become a recognized hub for investors.
The successfully concluded first Vibrant Gujarat Global Summit of Amrit Kaal has transformed into a convergence for the business community, thought leaders, and policymakers from both the country and the world, centring on inclusive growth and sustainable development. The success of this summit has incrementally expanded in both its momentum and scale over two decades. The embodiment of the concept "Vasudhaiva Kutumbakam" - 'One Earth, One Family, One Future' has been achieved through the engaged participation of nations from across the globe.
Chief Minister Shri Bhupendra Patel while speaking at the valedictory ceremony expressed that the 10th edition of the Vibrant Summit will function as a golden gateway, ensuring the future prosperity of India and actualizing the vision of Viksit Bharat@2047, as envisioned by Prime Minister Narendra Modi.
The summit, held under the theme "Gateway to the Future," has emerged as an inspiration for emerging sectors of the new era, including semiconductors, renewable energy, green hydrogen, electric vehicles (EV), aerospace, and defence equipment manufacturing.
Furthermore, Gujarat has implemented the concept of green growth presented by Prime Minister Narendra Modi by signing 50 per cent of the total MoUs signed in the summit in the field of green hydrogen and renewable energy.
In this 10th summit, Gujarat has embraced a new initiative titled "Vibrant Gujarat-Vibrant District." This initiative aims to provide a platform for the Micro, Small, and Medium Enterprises (MSME) industries across the 32 districts, fostering growth with the ethos of "Vocal for Local." The MSME sector, pivotal to the state's industrial development, has garnered renewed vigour through the success achieved in each Vibrant Summit.
Narendra Modi: Charting the Course
The year is 2003. Gujarat, a state on India's western coast, is known for its arid expanse, rich textile history, and simmering political climate. Its economic prospects, though promising, lacked a spark. Enter Narendra Modi, the then Chief Minister, with a visionary idea - the Vibrant Gujarat Global Summit.
What began as a biennial investors' meet aimed at showcasing Gujarat's potential, has, over two decades, metamorphosed into a global phenomenon. The Vibrant Gujarat Summit is not just an event; it's a testament to how a single decision can reshape a state's destiny.
Planting the Seeds of Transformation
Modi's vision for Gujarat was ambitious. He dreamt of making the state a magnet for global investments, propelling it to the forefront of India's economic scene. The Vibrant Gujarat Summit became the cornerstone of this ambition. The inaugural event in 2003, themed "Building Partnerships for Prosperity," resonated with international investors. The summit offered a platform for showcasing Gujarat's strategic location, robust infrastructure, and business-friendly policies. Its success was immediate, attracting investments worth $4.5 billion and setting the stage for a remarkable journey.
A Catalyst for Growth
With each successive summit, the momentum picked up. The annual gatherings became a global forum for thought leaders, investors, and policymakers to engage in critical dialogues on economic trends, technological advancements, and sustainable development. The themes evolved, reflecting Gujarat's dynamic growth trajectory. From "Infrastructure for Inclusive Growth" in 2005 to "Making India a Manufacturing Powerhouse" in 2011, the summits mirrored the state's aspirations and priorities.
The results were transformative. The state witnessed an influx of investments across diverse sectors - automobiles, chemicals, pharmaceuticals, renewable energy, and more. Global giants like Ford, General Motors, Reliance Industries, and Tata Motors set up base in Gujarat, creating a ripple effect that generated millions of jobs, boosted infrastructure development, and fueled economic growth.
Modi's Masterstroke
Modi's leadership was instrumental in this success. He understood the importance of branding and presentation. The Vibrant Gujarat Summit wasn't just about deals; it was about creating a compelling narrative around Gujarat's potential. The event's impeccable organization, vibrant cultural displays, and Modi's own charismatic presence as chief salesman helped project Gujarat as a land of opportunity and stability.
Beyond marketing, Modi meticulously crafted policies that made Gujarat investor-friendly. Streamlining processes, reducing red tape, and offering attractive incentives became his calling card. He actively wooed foreign delegates, establishing personal connections and assuring them of unwavering support. This proactive approach built trust and solidified Gujarat's reputation as a dependable investment destination.
Beyond Business, Building Legacy
The Vibrant Gujarat Summit's impact extended beyond mere economic gains. It fostered a culture of innovation and entrepreneurship. Incubators and start-up ecosystems flourished, nurtured by the summit's focus on knowledge sharing and collaboration. The state prioritized skill development, creating a workforce equipped to meet the demands of modern industries.
Furthermore, the summit transcended business, becoming a platform for social development initiatives. Focus areas like healthcare, education, and environmental sustainability found their way into discussions and action plans. Gujarat's transformation wasn't just about wealth creation; it was about building a future that was inclusive and equitable.
A Ripple Effect across India
The success of the Vibrant Gujarat Summit resonated across India. Other states emulated the model, hosting their own investor summits and adopting similar business-friendly policies. This national shift towards economic liberalization and investor-centric governance can be partly attributed to the inspiration provided by Gujarat's pioneering endeavor.
Modi Hai to Mumkin Hai
This summit has been happening for the last 20 years and is making the lives of ordinary Gujaratis extraordinary. The investment that this summit brings to the state is an important part of the “Gujarat Model” that everyone has been talking about for the last decade. PM Modi's vision to launch this summit and bring a paradigm shift in the success story of Gujarat is no less than an epic story. These are not just my sentiments, India's richest man Mukesh Ambani also said the same at the Vibrant Gujarat Summit today.
“No other summit like this has continued for 20 years,” he said. “It is a tribute to the vision and continuity of our Prime Minister Shri Narendrabhai Modi. When foreigners think of new India, they think of new Gujarat. How did this change happen? Because of a leader. Our beloved leader who has emerged as the greatest global leader of our times. And that is Shri Narendrabhai Modi, the most successful Prime Minister in the history of India.
Most Respected Shri Narendrabhai Modi Ji, when you speak the whole world not only listens but also appreciates you. My friends abroad ask me: What is the meaning of the slogan that millions of Indians are raising: Modi hai to mumkin hai? I tell them: It means, the Prime Minister of India makes the impossible possible with his vision, determination and implementation! They agree, and they also say: “Modi hai to mumkin hai!”
He further says “Most Respected Prime Minister Shri Narendrabhai Modi Ji... .As Chief Minister of Gujarat, you used to say that development of Gujarat is for the development of India - and thus you made Gujarat the growth engine of India. Now as the Prime Minister of India, your mission is – India's development for the world's development.
“You are working on the mantra of global well-being and making India the growth engine of the world. The story of your journey from Gujarat to the global stage in just two decades is no less than a modern epic. You have laid a solid foundation to establish India as a fully developed nation in the 'Developed India' - Amrit Kaal. No power in the world can stop India from becoming a $35 trillion economy by 2047. And as I see it, Gujarat alone will become a $3 trillion economy."
Don't you think that what Mukesh Ambani said is on the mind of millions of Indians today? PM Modi is making India stronger day by day and this is visible to every Indian. From gaining global recognition in almost every international matter to making India the third largest economy in the world, what has PM Modi not achieved?
Now another new dimension has been added to the achievement of this government and it is a proof that PM Modi and his government are committed to bring India to the level where it was in the ancient era. “Golden Bird.”
Garibee Hatao has been the slogan of the century in the Indian Political system. From Congress to BJP to every regional party has used this slogan for electoral gains, but never succeeded in eliminating the poverty in this country. But times have changed, it seems. From the onset of Modi government, this country is witnessing momentous changes in its system. From resurgence of Hinduism to development in every sector, this country is going through a plethora of changes. And recently, another feather has been added to this government’s cap. Shyama Prasad Mukherjee’s vision of providing the state’s benefits to the last man of the n society is the motto of this government and the latest news is proof that it is working in the right direction.
For decades, the narrative surrounding India's economic boom has been a double-edged sword. While the world marvelled at its growth trajectory, within its borders, concerns about a widening chasm between the rich and the poor festered. A recent report, however, suggests a glimmer of hope. According to it, one-third of tax filers in the bottom income slab since 2014 have graduated to higher tax brackets. According to the report, India's anticipated 2021–22 Gini coefficient, which measures income inequality, decreased from 0.489 in 2011–12 to 0.402 in 2021-22. For the unversed, total inequality is indicated by a Gini coefficient of 1, whereas total equality is indicated by a coefficient of 0. This makes a shift towards 0 desirable since it indicates that inequality is declining. This seemingly innocuous statistic holds the potential to rewrite the story of India's economic journey.
Firstly, the upward mobility reflected in the report signifies a chink in the armour of entrenched inequality. The bottom rung of the economic ladder is notoriously difficult to climb, often trapped by factors like lack of access to quality education, healthcare, and social networks. The fact that a significant portion of individuals have overcome these hurdles and clawed their way up speaks volumes about the potential for upward mobility within the Indian system. One should not have a single iota of doubt this change has been the result of people-oriented policies of this government.
This upward climb also bodes well for India's economic future in several ways. Firstly, it expands the tax base, leading to increased government revenue. This, in turn, can be used to fund crucial social programs, improve infrastructure, and invest in human capital development, thus creating a virtuous cycle of growth that benefits all segments of society.
Secondly, a shrinking wealth gap fosters greater social stability. When individuals feel they have a vested interest in the economic system and a path to personal progress, societal discord and unrest tend to diminish. This, in turn, creates a more conducive environment for attracting foreign investments and fostering entrepreneurial spirit, further propelling economic growth. Understanding the driving forces behind this shift is crucial for designing policies that can replicate and amplify its impact.
The future, therefore, demands a nuanced approach. We must celebrate the gains witnessed by those who have moved up the economic ladder while acknowledging the vast segment still struggling at the bottom. The journey towards equitable prosperity requires tackling the systemic disadvantages faced by marginalized communities, investing in inclusive education and healthcare, and creating a level playing field for entrepreneurship.
The report's findings serve as a reminder that a more equitable India is not an impossible dream, but a reality demanding sustained effort and targeted interventions. Embracing this challenge and ensuring that the benefits of economic growth reach every corner of society is not merely an economic imperative, but a moral one (Ekatmwad). This is what Shyama Prasad Mukherjee had envisioned and this is what this government is aiming at.
Looking Ahead
Today, Gujarat stands tall as a beacon of economic progress. Its GDP has quadrupled since 2003, making it one of India's most prosperous states. The Vibrant Gujarat Summit continues to evolve, adapting to the changing global landscape. Its 2024 edition, themed "Gateway to the future," reflects the state's focus on emerging technologies, sustainable development, and global partnerships.
The story of Gujarat's transformation is intricately woven with the vision and leadership of Narendra Modi. The Vibrant Gujarat Summit stands as a testament to his ability to dream big, translate dreams into action, and ultimately, steer a state towards a brighter future. As India charts its course towards becoming a global economic powerhouse, Gujarat's journey, fueled by this catalytic event, serves as a potent inspiration, leaving an indelible mark on the nation's economic landscape.
By NILABH KRISHNA
(The content of this article reflects the views of writers and contributors, not necessarily those of the publisher and editor. All disputes are subject to the exclusive jurisdiction of competent courts and forums in Delhi/New Delhi only)
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