Vibrant Gujarat Global Investor Summit
Encyclopedia
Vibrant Gujarat Global Investors Summit or VGGIS is a biennial summit organized by Gujarat state government in India to attract foreign investment
for development of Gujarat. Based on the theme–Gujarat Going Global and aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit served as a perfect platform to understand and explore business opportunities with the State of Gujarat. First VGGSIS started in 2003 and 4th VGGIS completed during 12–13 January 2009.
Industrial Extension Bureau acted as a nodal agency for the State Government during Vibrant Gujarat : Global Investors Summit (September 28 to October 2, 2003) organized at the two major commercial cities of the State–Ahmedabad and Surat in association with the Government of India, UNIDO and FICCI
& CII.
The conventions during the programme had sectoral sessions focus sector - Industrial Investment, Agro-Processing, Biotech- Pharma, Natural Gas
and Oil, Infrastructure, Mining, Tourism, Apparels and Gems-Jewellery at Ahmedabad and sectoral sessions on Garment & Textiles and Gems & Jewellery at Surat. There were also exhibitions in above sectors at respective places in Ahmedabad and Surat to provide a platform for showcasing products and services. One to one discussions between the prospective investors, government officials and the project promoters took place.
176 project proposals were compiled and were then scrutinized for their viability. Internationally reputed credit rating
agencies like CRISIL
and CARE lend their support as the financial advisors to these projects. Leading private and public sector
banks of India like ICICI, IDBI, State Bank of India
, Bank of Baroda
, State Bank of Saurashtra
, Corporation Bank
, IDFC and NABARD
have extended their support for financing these projects. CRISIL also worked with iNDEXTb in structuring these projects.
The Hon’ble Deputy Prime Minister of India
, Mr. L K Advani
inaugurated Vibrant Gujarat: Global Investors’ Summit 2003 on 28 September 2003. Mr. Narendra Modi
, Hon’ble Chief Minister
, Mr. Arun Shourie
, Mr. Ram Naik
, Mr. Mukesh Ambani
, Mr. A C Muthaih were the other dignitaries present on the dais. Various sessions during the programme were chaired by other hon’ble ministers from the Union and State Government.
Large number of corporate leaders like Mr. Subhir Raha, Mr. C K Birla, CEOs of multinational companies
like Shell, British Gas
, General Motors
, P&O ports, Niko & Steag and others attended the event. International dignitaries like Mr. Larry Pressler
, ex-US Senator; Mr. Michael Clarke
graced the occasion.
The Surat Summit, inaugurated by Hon’ble Union Finance Minister
, Mr. Jaswant Singh
. was also equally impressive. Other dignitaries present during the event were Hon’ble Union Minister
for Textiles, Mr. Shah Nawaz Hussain, Hon’ble Union Minister for Rural Development Mr. Kashiram Rana
, experts in textiles, gems and jewellery, senior officials from State and Central Government
. The attendance of prominent industrialists and other business leaders from across the country translated into a resounding success for the Surat Summit.
At the end of the event, 76 MOUs worth US $ 14 billion for investment were signed.
Other Events organized during Navratri Festival were International Convention
on Reconstruction in Kutch District
after Earthquake in 2001
and Celebration of Birth Anniversary of Mahatma Gandhi
at Porbandar
–the birth place of Mahatma Gandhiji on his birthday anniversary on October 2, 2003.
About 125 foreign delegates, 200 Non-Resident Indians
, 200 leading dignitaries and other participants from about 45 countries participated in Navratri Festival and went back happily cherishing the days of their life in Gujarat.
, Shri Bhairon Singh Shekhawat
, inaugurating the ceremony. More than 6,000 people attended the inaugural ceremony. The top dignitaries present at the ceremony included : industry representatives, foreign multinationals, NRIs as well as the business ___ from various sections of the society, India. Mukesh Ambani of Reliance, Gautam Adani of the Adani Group
, Shashi Ruia of Essar, Nigel Shaw of British Gas and so on. As a reflection of faith in the state and its potential to become a leading global destination for investment in the time to come, MOUs for setting up projects worth INR 870 Billion were signed on the first day itself.
To invite participation from global players, five delegations Led by senior Ministers __ of Gujarat Cabinet visited different parts of the world to hold discussions with NRIs, NRGs (Non Residential Gujaratis) and foreign investors
. From amongst them, several investors and NRIs participated in the event.
The summit was planned to coincide with Gujarat’s famous Kite festival, Uttarayan, which marks a change of season with the movement of the sun into the northern hemisphere
. Sectoral theme pavilions showcasing the strength of Gujarat in the relevant areas were developed. Major industries, Government corporations and Institutions participated in each sector. The event also hosted an exhibition along with seminars on the focus areas for investment in the state. These were IT, Biotech, Agro, Energy, Gas, Petroleum, Non-conventional Energy
, Port & port-Led industries, Financial Services
, Textiles and Apparels, Gems & Jewellery, Tourism etc. The exhibition was held at the Science City
which have more than 200 exhibitors from various sectors. The exhibitions attracted large number of visitors from within the state and outside.
Facility for arranging one to one meetings available where senior officers from the Industries and other departments, representatives of UNIDO and FICCI were present.
On the first day, the focus sectors were Information Technology
, Biotechnology, Agro, Energy, Gas, Petroleum and more importantly Non-conventional Sources of Energy. Seminars and meetings were held in three different halls at the Science City. Potential investors and industrialists had one-to-one meetings with senior officials of the state government and ministers of the cabinet.
The concluding day maintained the same momentum and enthusiasm as that of the first day with MOUs being signed by Industry. Several new MOUs were signed in the focus sectors of the day–Agriculture, Engineering, Tourism, Urban Development
, Chemicals and Pharmaceuticals, Port & Port Led development, Textiles, Gems & Jewellery.
By the time the Summit concluded on the second day, investments worth INR 1060 Billion in the form of MOUs were signed with 226 units. The concluding ceremony was graced by the Union Minister for Commerce & Industry Shri Kamal Nath
,
Of the 226 MOUs, Engineering, Gas and Port sectors attracted the maximum number of investment proposals, followed by Agriculture, Urban Development, Tourism, Chemicals & Pharmaceuticals, Textiles, Gems & Jewellery, IT and Biotechnology sectors. Besides these, four industrial majors–Torrent, Essar, Welspun and Adani, have Ledged investments of INR 120 Billion in gas-based or lignite-based power projects, assuring self-sufficiency
to the state for future in the most important sector - power.
Over all, the event evoked an excellent response amongst in industrialists in India and foreign countries in particular in Gujarat in general.
. This was the third such Summit organized by the state government with the first Summit held in 2003 and the second held in 2005.
In all the Summits, Gujarat was showcased as an ideal investment destination, both for Indian and Foreign investors. The emphasis on all these Summits was to invite investors to come to Gujarat to see and experience the business friendly environment that prevails in the state and decide to invest here. Prospective investors were extended two significant messages:
1. In Gujarat there is only Red Carpet and no Red Tape.
2. It is where Investors can sow a rupee and reap a dollar as returns.
In a dramatic change of strategy to get these messages across to potential investors, prominent industrialists from the state undertook road shows abroad, instead of government officials, to woo investors and to highlight the advantages Gujarat has to offer.
Detailed investment opportunities in different segments of focus sectors were prepared and supplemented by individual project profiles to give comprehensive information about the state. These focus sectors included Agro & Food Processing; Engineering, Auto & Ceramics; Biotechnology; Textiles and Apparels, Gems & Jewellery; Tourism; IT; Power, Oil & Gas; Chemicals, Petrochemicals & Pharmaceuticals; SEZ & Port-Led Development and Urban Development.
The Vibrant Gujarat Global Investors’ Summit 2007 event was spread over a period of 4 days. On 10 January 2007, a multimedia exhibition-Eternal Gandhi–on life and philosophy of Mahatma Gandhi was inaugurated at Science city, Ahmedabad. On the 11th of January, an exhibition showcasing the strengths and advantages of the various industries in Gujarat named “Gujarat Discovered” and the International Kite festival at the Sabarmati Riverfront Development site was opened. The 12th of January saw the inauguration of Global Investors’ Summit at the Science city.
Vibrant Gujarat: Global Investors' Summit 2009 had resounding success this year too as it had been in the past. During the course of two days, 8662 MoUs worth US$ 243 billion (over Rs. 12,000 Billion) are signed. The summit witnessed participation of delegates from 45 countries, amounting to over 600 foreign delegates. The who’s who of the Indian industry were present, including Mr. Ratan Tata
, Chairman, Tata Group
, Mr. KV Kamath, Chairman ICICI and President CII, Mr. Mukesh Ambani, Chairman, Reliance Industries
, Mr. Kumar Mangalam Birla
, Chairman, Birla Group, Mr. Shashi Ruia, Chairman, Essar Group, Mr, Anil Ambani
, Chairman, ADAG Group, Mr. Sunil Mittal
, Chairman, Bharti Enterprise among several other dignitaries. Several political dignitaries from various countries such as Japan, UK, China, Russia, Canada, Israel, Poland, Korea, UAE, Malawi, Indonesia, Oman, Kenya, Italy, Singapore, Trinidad & Tobago
, Vietnam, Uganda, Zimbabwe and Maldives had participated
Japan was the Partner Country to this Summit. This being the first time any country has agreed to partner with a State of another country. Japan External Trade Organisation (JETRO
) was designated as the partner organization. Japan also reciprocated Gujarat’s initiatives for mutual economic cooperation by sending two senior level delegations, led by Mr. Hideaki Domichi, the Ambassador of Japan to India and Mr. Heizo Takenaka
, Former Minister of Economic & Fiscal Policy
of Japan. The maximum number of delegates was from Japan, totalling to over 70 members. Another major delegation was from USA.
The exhibition was organized in a grand way, spread over an area of 19,200 sq. mts. There were 232 stalls, quite impressive and informative, having participation of eminent companies of India. 16 international countries participated in the exhibition from countries such as Japan, Korea, UK, Kenya, Arab League
, Russia, Netherlands, Trinidad & Tobago, Czech Republic
, El Salvador
and Uganda.
Earlier Summits were organized in the year 2003, 2005 and 2007. The 2003 Global Investors' Summit was held coinciding with the glorious Navratri Festival where a total of 76 MOUs worth USD 14 billion were signed. The 2005 Summit saw signing of 226 MOUs garnering an investment of USD 20 billion. The year 2007 Summit, resulted in signing of 675 MOUs worth USD 152 billion. In the year 2009, the initiative that began six years ago, was intensified and the state propelled in to the next stage of the development process, focused and intensive growth in the socio-economic
index.
, Gandhinagar.
Foreign direct investment
Foreign direct investment or foreign investment refers to the net inflows of investment to acquire a lasting management interest in an enterprise operating in an economy other than that of the investor.. It is the sum of equity capital,other long-term capital, and short-term capital as shown in...
for development of Gujarat. Based on the theme–Gujarat Going Global and aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit served as a perfect platform to understand and explore business opportunities with the State of Gujarat. First VGGSIS started in 2003 and 4th VGGIS completed during 12–13 January 2009.
- VGGIS 2003 - Signed 76 MOUs worth US $14 billion
- VGGIS 2005 - Signed MOUs for setting up projects worth INR 870 Billion
- VGGIS 2007 - Signed 343 MOUs worth Rs 461835 crores. This includes Rs 14811 crore investments promised in 21 MoUs signed at an IT Summit. On the top of the investment brackets were 28 MoUs for Special Economic ZoneSpecial Economic ZoneA Special Economic Zone is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws...
s with an investment tally of Rs 170,889 crores. - VGGIS 2009 - Signed 8668 MOUs having total investment of Rs.12,24,482 crores.
- VGGIS 2011
Vibrant Gujarat Global Investors Summit 2003
Vibrant Gujarat: Global Investors' Summit 2003 was organized during world famous festival of Gujarat - Navratri, during which the State is at its best. This time a unique attempt was made by the State Government to showcase the culture, tradition and entertainment prevalent in Gujarat by blending them with culture, trade and enterprise.Industrial Extension Bureau acted as a nodal agency for the State Government during Vibrant Gujarat : Global Investors Summit (September 28 to October 2, 2003) organized at the two major commercial cities of the State–Ahmedabad and Surat in association with the Government of India, UNIDO and FICCI
FICCI
The Federation of Indian Chambers of Commerce and Industry is an association of business organizations in India, headquartered in the national capital New Delhi. FICCI is one of the main organizations to fund and support many governmental and non-governmental educational institutes...
& CII.
The conventions during the programme had sectoral sessions focus sector - Industrial Investment, Agro-Processing, Biotech- Pharma, Natural Gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
and Oil, Infrastructure, Mining, Tourism, Apparels and Gems-Jewellery at Ahmedabad and sectoral sessions on Garment & Textiles and Gems & Jewellery at Surat. There were also exhibitions in above sectors at respective places in Ahmedabad and Surat to provide a platform for showcasing products and services. One to one discussions between the prospective investors, government officials and the project promoters took place.
176 project proposals were compiled and were then scrutinized for their viability. Internationally reputed credit rating
Credit rating
A credit rating evaluates the credit worthiness of an issuer of specific types of debt, specifically, debt issued by a business enterprise such as a corporation or a government. It is an evaluation made by a credit rating agency of the debt issuers likelihood of default. Credit ratings are...
agencies like CRISIL
CRISIL
Credit Rating and Information Services of India Ltd. a global analytical company providing ratings, research, and risk and policy advisory services....
and CARE lend their support as the financial advisors to these projects. Leading private and public sector
Public sector
The public sector, sometimes referred to as the state sector, is a part of the state that deals with either the production, delivery and allocation of goods and services by and for the government or its citizens, whether national, regional or local/municipal.Examples of public sector activity range...
banks of India like ICICI, IDBI, State Bank of India
State Bank of India
The State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
, Bank of Baroda
Bank of Baroda
Bank of Baroda is the third largest bank in India, after the State Bank of India and the Punjab National Bank and ahead of ICICI Bank. BoB is ranked 763 in Forbes Global 2000 list. BoB has total assets in excess of Rs. 3.58 lakh crores, or Rs. 3,583 billion, a network of over 3,409 branches and...
, State Bank of Saurashtra
State Bank of Saurashtra
State Bank of Saurashtra was a government-owned bank in India. It was one of the seven Associate Banks of the State Bank of India, with which it merged on 13 August 2008...
, Corporation Bank
Corporation Bank
Corporation Bank is an India-based banking company based in Mangalore, India. The bank was founded with an initial capital of Rs. 5000 , and first day’s canvassed resources of less than one USD 1, has currently 12,724 full time employees, and operates from several branches in India.The Bank is a...
, IDFC and NABARD
National Bank for Agriculture and Rural Development
National Bank for Agriculture and Rural Development is an apex development bank in India having headquarters based in Mumbai and other branches are all over the country...
have extended their support for financing these projects. CRISIL also worked with iNDEXTb in structuring these projects.
The Hon’ble Deputy Prime Minister of India
Deputy Prime Minister of India
The Deputy Prime Minister of India is a member of the Indian cabinet in the Indian government. The post is not a constitutional post and seldom carries any specific powers. Generally a Deputy Prime Minister also holds other key portfolios like Home minister or Finance Minister...
, Mr. L K Advani
Lal Krishna Advani
Lal Kishanchand Advani known as Lal Krishna Advani is a Veteran Indian politician. A former president of the Bharatiya Janata Party , which is currently the major opposition party in the Indian Parliament. He also served as a Deputy Prime Minister of India from 2002 to 2004...
inaugurated Vibrant Gujarat: Global Investors’ Summit 2003 on 28 September 2003. Mr. Narendra Modi
Narendra Modi
Narendra Damodardas Modi is the current Chief Minister of the Indian state of Gujarat.He was born in a middle class family in Vadnagar; and is a member of Rashtriya Swayamsevak Sangh since childhood, as also an active politician since early in life. He holds a masters degree in political...
, Hon’ble Chief Minister
Chief Minister
A Chief Minister is the elected head of government of a sub-national state, provinces of Sri Lanka, Pakistan, notably a state of India, a territory of Australia or a British Overseas Territory that has attained self-government...
, Mr. Arun Shourie
Arun Shourie
Arun Shourie is an Indian journalist, author, intellectual and politician. He has been an economist with the World Bank , a consultant to the Planning Commission, India, editor of the Indian Express and Times of India and a minister in the government of India . He was awarded the Ramon Magsaysay...
, Mr. Ram Naik
Ram Naik
Ram Naik is an Indian politician.He was born in Atpadi, in Sangli district , Maharashtra, in a middle class deshastha family. He married Kunda Naik on May 17, 1960 and has 2 daughters...
, Mr. Mukesh Ambani
Mukesh Ambani
Mukesh Dhirubhai Ambani is an Indian business magnate. He is the chairman and managing director of Indian conglomerate Reliance Industries, the largest private sector enterprise in India listed in Fortune 500 magazine. His personal stake in Reliance Industries is 48%...
, Mr. A C Muthaih were the other dignitaries present on the dais. Various sessions during the programme were chaired by other hon’ble ministers from the Union and State Government.
Large number of corporate leaders like Mr. Subhir Raha, Mr. C K Birla, CEOs of multinational companies
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
like Shell, British Gas
Centrica
Centrica plc is a multinational utility company, based in the United Kingdom but also with interests in North America. Centrica is the largest supplier of gas to domestic customers in the UK, and one of the largest suppliers of electricity, operating under the trading names "Scottish Gas" in...
, General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
, P&O ports, Niko & Steag and others attended the event. International dignitaries like Mr. Larry Pressler
Larry Lee Pressler
Larry Lee Pressler is a U.S. Republican politician. He was the first Vietnam veteran to be elected to the United States Senate. On November 10, 2009 President Barack Obama named Larry Pressler to the U.S...
, ex-US Senator; Mr. Michael Clarke
Michael Clarke
Michael Clarke may refer to:* Michael Clarke * Michael Clarke , Australian cricketer* Michael Clarke , American musician* Michael Clarke , Australian ornithologist...
graced the occasion.
The Surat Summit, inaugurated by Hon’ble Union Finance Minister
Finance minister
The finance minister is a cabinet position in a government.A minister of finance has many different jobs in a government. He or she helps form the government budget, stimulate the economy, and control finances...
, Mr. Jaswant Singh
Jaswant Singh
- Career :He is one of the few Indian politicians to have been the Minister for Defence, Finance and External Affairs.He started the new government of Vajpayee, which lasted its full term, as the External Affairs Minister and later on switched his ministry to Finance with Yashwant Sinha...
. was also equally impressive. Other dignitaries present during the event were Hon’ble Union Minister
Indian Cabinet Ministers
The Cabinet of India is the collective decision-making body of the Government of India, composed of the Prime Minister and 35 Cabinet Ministers, the most senior of the government ministers...
for Textiles, Mr. Shah Nawaz Hussain, Hon’ble Union Minister for Rural Development Mr. Kashiram Rana
Kashiram Rana
Kashi Ram Rana is an Indian politician and a member of the Bharatiya Janata Party of India. In 1989, he was elected to the 9th Lok Sabha from Surat constituency in Gujarat. He was re-elected to the Lok Sabha 1991, 1996, 1998, 1999 and 2004 from the same constituency...
, experts in textiles, gems and jewellery, senior officials from State and Central Government
Central government
A central government also known as a national government, union government and in federal states, the federal government, is the government at the level of the nation-state. The structure of central governments varies from institution to institution...
. The attendance of prominent industrialists and other business leaders from across the country translated into a resounding success for the Surat Summit.
At the end of the event, 76 MOUs worth US $ 14 billion for investment were signed.
Other Events organized during Navratri Festival were International Convention
International law
Public international law concerns the structure and conduct of sovereign states; analogous entities, such as the Holy See; and intergovernmental organizations. To a lesser degree, international law also may affect multinational corporations and individuals, an impact increasingly evolving beyond...
on Reconstruction in Kutch District
Kutch District
Kutch district is a district of Gujarat state in western India. Covering an area of 45,652 km², it is the largest district of India....
after Earthquake in 2001
2001 Gujarat earthquake
The 2001 Gujarat earthquake occurred on January 26, 2001, India's 52nd Republic Day, at 08:46 AM local time and lasted for over two minutes. The epicentre was about 9 km south-southwest of the village of Chobari in Bhachau Taluka of Kutch District of Gujarat, India...
and Celebration of Birth Anniversary of Mahatma Gandhi
Mahatma Gandhi
Mohandas Karamchand Gandhi , pronounced . 2 October 1869 – 30 January 1948) was the pre-eminent political and ideological leader of India during the Indian independence movement...
at Porbandar
Porbandar
Porbandar is a coastal city in the Indian state of Gujarat, perhaps best known for being the birthplace of Mahatma Gandhi and Sudama...
–the birth place of Mahatma Gandhiji on his birthday anniversary on October 2, 2003.
About 125 foreign delegates, 200 Non-Resident Indians
Non-resident Indian and Person of Indian Origin
A Non-Resident Indian is an Indian citizen who has migrated to another country, a person of Indian origin who is born outside India, or a person of Indian origin who resides permanently outside India. Other terms with the same meaning are overseas Indian and expatriate Indian...
, 200 leading dignitaries and other participants from about 45 countries participated in Navratri Festival and went back happily cherishing the days of their life in Gujarat.
Vibrant Gujarat Global Investors Summit 2005
The two day Vibrant Gujarat : Global Investor's Summit 2005 was a one-of-its- kind event in India. It got off to a scintillating start with the Honourable Vice President of IndiaVice-President of India
The Vice-President of India is the second-highest ranking government official in the executive branch of the Government of India, after the President...
, Shri Bhairon Singh Shekhawat
Bhairon Singh Shekhawat
Bhairon Singh Shekhawat was the 11th Vice-President of India. He served in that position from August 2002, when he was elected to a five-year term by the electoral college following the death of Krishan Kant, until he resigned on July 21, 2007, after losing the presidential election to Pratibha...
, inaugurating the ceremony. More than 6,000 people attended the inaugural ceremony. The top dignitaries present at the ceremony included : industry representatives, foreign multinationals, NRIs as well as the business ___ from various sections of the society, India. Mukesh Ambani of Reliance, Gautam Adani of the Adani Group
Adani Group
The Adani Group is a Gujarat based Indian conglomerate with the industrialist Gautam Adani as its CMD and promoter. The core business of the group is Commodities Trading, edible oil Manufacturing, Mundra port operations and distribution of Natural Gas. Adani group has more than 50 companies under...
, Shashi Ruia of Essar, Nigel Shaw of British Gas and so on. As a reflection of faith in the state and its potential to become a leading global destination for investment in the time to come, MOUs for setting up projects worth INR 870 Billion were signed on the first day itself.
To invite participation from global players, five delegations Led by senior Ministers __ of Gujarat Cabinet visited different parts of the world to hold discussions with NRIs, NRGs (Non Residential Gujaratis) and foreign investors
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
. From amongst them, several investors and NRIs participated in the event.
The summit was planned to coincide with Gujarat’s famous Kite festival, Uttarayan, which marks a change of season with the movement of the sun into the northern hemisphere
Northern Hemisphere
The Northern Hemisphere is the half of a planet that is north of its equator—the word hemisphere literally means “half sphere”. It is also that half of the celestial sphere north of the celestial equator...
. Sectoral theme pavilions showcasing the strength of Gujarat in the relevant areas were developed. Major industries, Government corporations and Institutions participated in each sector. The event also hosted an exhibition along with seminars on the focus areas for investment in the state. These were IT, Biotech, Agro, Energy, Gas, Petroleum, Non-conventional Energy
Renewable energy
Renewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable . About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from...
, Port & port-Led industries, Financial Services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
, Textiles and Apparels, Gems & Jewellery, Tourism etc. The exhibition was held at the Science City
Science City
Science City may refer to the following:A centre for interactive science in different cities across the world, as a museum:* Gujarat Science City, Ahmedabad, Gujarat, India* Science City, Kapurthala, Punjab, India* Science City, Kolkata, West Bengal, India...
which have more than 200 exhibitors from various sectors. The exhibitions attracted large number of visitors from within the state and outside.
Facility for arranging one to one meetings available where senior officers from the Industries and other departments, representatives of UNIDO and FICCI were present.
On the first day, the focus sectors were Information Technology
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
, Biotechnology, Agro, Energy, Gas, Petroleum and more importantly Non-conventional Sources of Energy. Seminars and meetings were held in three different halls at the Science City. Potential investors and industrialists had one-to-one meetings with senior officials of the state government and ministers of the cabinet.
The concluding day maintained the same momentum and enthusiasm as that of the first day with MOUs being signed by Industry. Several new MOUs were signed in the focus sectors of the day–Agriculture, Engineering, Tourism, Urban Development
Urban planning
Urban planning incorporates areas such as economics, design, ecology, sociology, geography, law, political science, and statistics to guide and ensure the orderly development of settlements and communities....
, Chemicals and Pharmaceuticals, Port & Port Led development, Textiles, Gems & Jewellery.
By the time the Summit concluded on the second day, investments worth INR 1060 Billion in the form of MOUs were signed with 226 units. The concluding ceremony was graced by the Union Minister for Commerce & Industry Shri Kamal Nath
Kamal Nath
Kamal Nath is an Indian politician and the current Union Cabinet Minister of Urban Development. He is a member of the 15th Lok Sabha of India. He represents the Chhindwara constituency of Madhya Pradesh and is a member of the Indian National Congress .-Early life:Born in Kanpur, Uttar Pradesh. He...
,
Of the 226 MOUs, Engineering, Gas and Port sectors attracted the maximum number of investment proposals, followed by Agriculture, Urban Development, Tourism, Chemicals & Pharmaceuticals, Textiles, Gems & Jewellery, IT and Biotechnology sectors. Besides these, four industrial majors–Torrent, Essar, Welspun and Adani, have Ledged investments of INR 120 Billion in gas-based or lignite-based power projects, assuring self-sufficiency
Self-sufficiency
Self-sufficiency refers to the state of not requiring any outside aid, support, or interaction, for survival; it is therefore a type of personal or collective autonomy...
to the state for future in the most important sector - power.
Over all, the event evoked an excellent response amongst in industrialists in India and foreign countries in particular in Gujarat in general.
Vibrant Gujarat Global Investors Summit 2007
The Government of Gujarat hosted the Vibrant Gujarat Global Investors' Summit 2007 on January 12 and 13 at Ahmedabad in which Gujarat emerged as a Global Investment Destination and justified its role as the Growth Engine of Indian EconomyEconomy of India
The Economy of India is the ninth largest in the world by nominal GDP and the fourth largest by purchasing power parity . The country is a part of the G-20 major economies and the BRICS, in addition to being partners of the ASEAN. India has a per capita GDP of $3,608 as per 2010 figures, making it...
. This was the third such Summit organized by the state government with the first Summit held in 2003 and the second held in 2005.
In all the Summits, Gujarat was showcased as an ideal investment destination, both for Indian and Foreign investors. The emphasis on all these Summits was to invite investors to come to Gujarat to see and experience the business friendly environment that prevails in the state and decide to invest here. Prospective investors were extended two significant messages:
1. In Gujarat there is only Red Carpet and no Red Tape.
2. It is where Investors can sow a rupee and reap a dollar as returns.
In a dramatic change of strategy to get these messages across to potential investors, prominent industrialists from the state undertook road shows abroad, instead of government officials, to woo investors and to highlight the advantages Gujarat has to offer.
Detailed investment opportunities in different segments of focus sectors were prepared and supplemented by individual project profiles to give comprehensive information about the state. These focus sectors included Agro & Food Processing; Engineering, Auto & Ceramics; Biotechnology; Textiles and Apparels, Gems & Jewellery; Tourism; IT; Power, Oil & Gas; Chemicals, Petrochemicals & Pharmaceuticals; SEZ & Port-Led Development and Urban Development.
The Vibrant Gujarat Global Investors’ Summit 2007 event was spread over a period of 4 days. On 10 January 2007, a multimedia exhibition-Eternal Gandhi–on life and philosophy of Mahatma Gandhi was inaugurated at Science city, Ahmedabad. On the 11th of January, an exhibition showcasing the strengths and advantages of the various industries in Gujarat named “Gujarat Discovered” and the International Kite festival at the Sabarmati Riverfront Development site was opened. The 12th of January saw the inauguration of Global Investors’ Summit at the Science city.
Vibrant Gujarat Global Investors Summit 2009
The Government of Gujarat organized the 4th biennial Global Investors' Summit 2009 during 12–13 January 2009. Based on the theme–Gujarat Going Global and aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit served as a perfect platform to understand and explore business opportunities with the State of Gujarat.Vibrant Gujarat: Global Investors' Summit 2009 had resounding success this year too as it had been in the past. During the course of two days, 8662 MoUs worth US$ 243 billion (over Rs. 12,000 Billion) are signed. The summit witnessed participation of delegates from 45 countries, amounting to over 600 foreign delegates. The who’s who of the Indian industry were present, including Mr. Ratan Tata
Ratan Tata
Ratan Naval Tata is the present chairman of Tata Sons and therefore, Tata Group. Also, he is one among the few in the world...
, Chairman, Tata Group
Tata Group
Tata Group is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, India. Tata Group is one of the largest companies in India by market capitalization and revenue. It has interests in communications and information technology, engineering, materials, services, energy,...
, Mr. KV Kamath, Chairman ICICI and President CII, Mr. Mukesh Ambani, Chairman, Reliance Industries
Reliance Industries
Reliance Industries Limited is an Indian conglomerate company headquartered at Mumbai, India. The company operates through three business segments: petrochemicals, refining, and oil and gas, other segment of the company includes textile, retail business, special economic zone development and...
, Mr. Kumar Mangalam Birla
Kumar Mangalam Birla
Kumar Mangalam Birla is an Indian industrialist and the Chairman of the Aditya Birla Group, one of the largest conglomerate corporations in India. He is also the Chancellor of the Birla Institute of Technology & Science.-Education and career:...
, Chairman, Birla Group, Mr. Shashi Ruia, Chairman, Essar Group, Mr, Anil Ambani
Anil Ambani
Anil Dhirubhai Ambani is an Indian-Gujarati business baron and chairman of Reliance Anil Dhirubhai Ambani Group, one of the largest private conglomerates. Anil's elder brother, Mukesh Ambani, is worth more than 29 billion dollars, and owns another company called Reliance Industries...
, Chairman, ADAG Group, Mr. Sunil Mittal
Sunil Mittal
Sunil Bharti Mittal , Punjabi: ਸੁਨੀਲ ਭਾਰਤੀ ਮਿੱਤਲ, born 23 October 1957) is an Indian telecom mogul, philanthropist and the founder, chairman and Group CEO of Bharti Enterprises...
, Chairman, Bharti Enterprise among several other dignitaries. Several political dignitaries from various countries such as Japan, UK, China, Russia, Canada, Israel, Poland, Korea, UAE, Malawi, Indonesia, Oman, Kenya, Italy, Singapore, Trinidad & Tobago
Trinidad and Tobago
Trinidad and Tobago officially the Republic of Trinidad and Tobago is an archipelagic state in the southern Caribbean, lying just off the coast of northeastern Venezuela and south of Grenada in the Lesser Antilles...
, Vietnam, Uganda, Zimbabwe and Maldives had participated
Japan was the Partner Country to this Summit. This being the first time any country has agreed to partner with a State of another country. Japan External Trade Organisation (JETRO
JETRO
is an independent government agency established by Japan Export Trade Research Organization as a nonprofit corporation in Osaka in February 1951, and reorganized as the Ministry of International Trade and Industry in 1958 to consolidate Japan's efforts in export promotion...
) was designated as the partner organization. Japan also reciprocated Gujarat’s initiatives for mutual economic cooperation by sending two senior level delegations, led by Mr. Hideaki Domichi, the Ambassador of Japan to India and Mr. Heizo Takenaka
Heizo Takenaka
is a Japanese economist and retired politician, last serving as Minister of Internal Affairs and Communications and Minister of State for Privatization of the Postal Services in the cabinet of Prime Minister Junichiro Koizumi...
, Former Minister of Economic & Fiscal Policy
Fiscal policy
In economics and political science, fiscal policy is the use of government expenditure and revenue collection to influence the economy....
of Japan. The maximum number of delegates was from Japan, totalling to over 70 members. Another major delegation was from USA.
The exhibition was organized in a grand way, spread over an area of 19,200 sq. mts. There were 232 stalls, quite impressive and informative, having participation of eminent companies of India. 16 international countries participated in the exhibition from countries such as Japan, Korea, UK, Kenya, Arab League
Arab League
The Arab League , officially called the League of Arab States , is a regional organisation of Arab states in North and Northeast Africa, and Southwest Asia . It was formed in Cairo on 22 March 1945 with six members: Egypt, Iraq, Transjordan , Lebanon, Saudi Arabia, and Syria. Yemen joined as a...
, Russia, Netherlands, Trinidad & Tobago, Czech Republic
Czech Republic
The Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the northeast, Slovakia to the east, Austria to the south, and Germany to the west and northwest....
, El Salvador
El Salvador
El Salvador or simply Salvador is the smallest and the most densely populated country in Central America. The country's capital city and largest city is San Salvador; Santa Ana and San Miguel are also important cultural and commercial centers in the country and in all of Central America...
and Uganda.
Earlier Summits were organized in the year 2003, 2005 and 2007. The 2003 Global Investors' Summit was held coinciding with the glorious Navratri Festival where a total of 76 MOUs worth USD 14 billion were signed. The 2005 Summit saw signing of 226 MOUs garnering an investment of USD 20 billion. The year 2007 Summit, resulted in signing of 675 MOUs worth USD 152 billion. In the year 2009, the initiative that began six years ago, was intensified and the state propelled in to the next stage of the development process, focused and intensive growth in the socio-economic
Socioeconomics
Socioeconomics or socio-economics or social economics is an umbrella term with different usages. 'Social economics' may refer broadly to the "use of economics in the study of society." More narrowly, contemporary practice considers behavioral interactions of individuals and groups through social...
index.
Vibrant Gujarat Global Investors Summit 2011
5th Vibrant Gujarat Global Investors Summit was held from 12 & 13 January 2011 at Mahatma mandirMahatma mandir
Government of Gujarat has started an initiative to develop a center dedicated to father of nation Mahatma Gandhi at state capital Gandhinagar.A convention centre with capacity to accommodate over 5,000 people will also be constructed in the same complex...
, Gandhinagar.
External links
- Investor Facilitation Portal (IFP): Single window mechanism for those who wants to invest in Gujarat. An online Memorandum of Understanding (MoU) filling system and a system to check the status of applications by state authorities and investors.
- Gujarat International Finance Tec-City Official Website
- GIFT Downloads
- Gujarat2050 Map showing major development areas