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PremiumVibrant Gujarat Summit LIVE Updates: The Vibrant Gujarat Global Summit 2024 kicked off today i.e. on 10 January at Gandhinagar's Mahatma Mandir. The event marks a significant rebound for the state, as the 2021 edition was cancelled due to pandemic restrictions. PM Modi inaugurated the 10th edition of the Vibrant Gujarat Global Trade Show 2024 on Tuesday. The theme of the Summit which will be held from January 10-12 is 'Gateway to the Future.' In this Summit, 34 partner countries and 16 partner organizations are participating, which include a prominent group of world leaders, including Presidents, Prime Ministers, and CEOs of MNCs from many countries. During the Summit, PM Modi will hold bilateral talks with CEOs of important global firms such as Suzuki Motor Corp's Toshihiro Suzuki, AP Moller's Keith Svendsen, Micron Technology's Sanjay Mehrotra, Rasna Private Limited Chairman Piruz Khambatta, and others. From India, Gautam Adani, Mukesh Ambani, and Natarajan Chandrasekaran will be among the scores of top Indian executives in attendance. The 2015 summit saw 21,304 MoUs, and 2017 had 24,774 deals, with approximately 70% materializing. Officials are optimistic that 90% of this year's MoUs will be realized.
Catch the LIVE Updates on PM Modi's Gujarat visit here
On the second day of the Vibrant Gujarat Global Summit, Sanjay Mehrotra, CEO of Micron Technology, underscored the pivotal role of semiconductors in India's growth and the global economy.
Speaking at the event, Mehrotra highlighted the significance of Vibrant Gujarat as a forward-looking forum to discuss visionary ideas crucial for India's semiconductor prowess and overall development.
"Vibrant Gujarat is an important forward-looking forum to discuss the visionary ideas critical for India, its growth, its semiconductor power. Never has the opportunity been greater, and I think we can feel it in the Vibrant Gujarat event," remarked Sanjay Mehrotra, acknowledging the significance of the summit as a platform for discussions that shape the future.
Ed Knight, Global Board Chair of the US-India Business Council (USIBC) and Executive Vice Chairman of Nasdaq, led the trade association's executive delegation to the 10th edition of the Vibrant Gujarat Global Summit in Gujarat's Gandhinagar. USIBC organised a country seminar addressing ways to increase trade and investment between the United States and India.
US Consul General in Mumbai Mike Hankey and Ed Knight were the keynote speakers at the USIBC country seminar. The seminar concluded with a panel discussion titled "Shaping the Future: The Evolving India-U.S. Bilateral Relationship," according to USIBC's press release.
On the second day of the Vibrant Gujarat Global Summit 2024, Tiit Riisalo, Minister of Economic Affairs and Information Technology of Estonia, spoke to ANI, emphasising the shared values and economic cooperation between India and Estonia.
Riisalo stated, "India and Estonia share a lot of basic values that are important in this world, it includes democracy, rule of law, market economy. We are looking into the economic side of this cooperation. I could say both of us are start-up nations".
The minister highlighted the foundational principles that bind the two nations, underscoring the significance of common values in fostering collaboration.
He went on to draw parallels between India and Estonia as "start-up nations," emphasising the shared ethos of innovation and entrepreneurship.
Special Secretary (Logistics) of DPIIT, Sumita Dawra, revealed the government's collaboration with the private sector on integrating AI-driven strategies into the PM GatiShakti initiative.
Addressing the session on "PM GatiShakti: Informed Decision Making for Holistic Development," Dawra emphasised the transformative impact of artificial intelligence in monitoring and planning, particularly for renewable energy and infrastructure in rapidly urbanising areas.
"We are working with the private sector on AI-driven ideas for better monitoring and planning, particularly for renewable energy and infrastructure in rapidly urbanising areas," Dawra said.
At the ongoing Vibrant Gujarat Global Summit in Ahmedabad, hosts India and the UAE on Wednesday launched the UAE-India CEPA Council (UICC) to encourage close partnerships and tangible cooperation across all levels of the UAE and Indian business communities, according to an official press statement.
The launch was attended by the UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi and Union Minister of Commerce and Trade, Piyush Goyal.
Vibrant Gujarat Summit LIVE: Darshan Hiranandani promoted Yotta Data Services on Wednesday announced the commissioning of a ₹500 crore data centre in the GIFT City.
The company has invested ₹500 crore over the last five years to build the facility, which has a 2 MW power capacity, an official statement said.
Speaking at the tenth edition of the Vibrant Gujarat Global Summit 2024 here, a senior official from global computing giant Nvidia, Yotta's partner in the venture, said the "artificial intelligence data centre" will be thrown open before March this year.
The G1 data centre offers colocation, cloud, managed IT and cyber security services to store and process, data and applications for a variety of use cases, including AI models and enterprise applications, the statement said.
This is the company's fifth facility in the country after similar investments in other states like Maharashtra, the statement said, adding that it has 350 racks.
Hiranandani, its co-founder and Chairman, said, Gujarat, with GIFT City, has been at the forefront of providing a viable and sustainable platform for global businesses to set up base in India.
"The setting up of the IFSC zone is a further testament to their vision for financial services companies. We are proud to support this vision of the Gujarat government," he added. (PTI)
India needs to have more participants in the aviation Maintenance, Repair and Overhaul (MRO) sector which presents a lot of opportunities with increasing number of aircraft in the country, Union Minister of State for Civil Aviation V K Singh said here on Wednesday. The government was trying hard to encourage the MRO sector, he said at a seminar on Aircraft/Ancillary Manufacturing and MRO Opportunities at the 10th Vibrant Gujarat Global Summit here. India has an excellent ecosystem for the growth of the aviation sector with a huge traffic, 1,000 more aircrafts being added and the number of operational airports rising to 149 from 70 a decade ago, Singh said.
"We want more participation in MRO, and talk aggressively to players abroad to invest in India as JV or in any other way but bring it in India. There is a lot of scope in the sector, and a lot requires to be done. Whatever exists now is very small, whether it is for civil or military application," the minister said.
The government is trying hard to encourage the sector and believes that it needs to be encouraged and strengthened so that aeroplanes do not have to go abroad for major maintenance, he said. "We need to have our own MROs in India. And we believe that a lot is possible within the country. MRO is USD 2 billion business," he said, adding that the government has reduced the Goods and Services Tax on domestic MRO services to 5 per cent from 18 percent, and removed the GST on export duty. Import duty on special tools and equipment has been removed, and waiver has also been provided on custom duty on spare parts. Even the foreign direct investment has been permitted in the sector, he added. (PTI)
Prime Minister Narendra Modi and his Czech Republic counterpart Petr Fiala on Wednesday held a bilateral meeting here on the sidelines of the Vibrant Gujarat Global Summit where both leaders reviewed relations between the two countries and held discussions on various sectors.
A joint statement after the meeting said India and the Czech Republic are committed to deeper engagement within the Indo-Pacific region based on an open, free, inclusive and rules-based approach with respect for sovereignty and territorial integrity.
PM Modi and the Czech prime minister reviewed bilateral relations at the meeting and held discussions covering various sectors, including new and emerging technologies, automobiles, climate change, and defence, officials said.
Both countries have decided to elevate India-Czechia relations in innovative sectors to the strategic partnership on innovation. (PTI)
UAE-based retailer LuLu Group is set to construct what it termed India's biggest shopping mall, in Ahmedabad, with an estimated cost of ₹4,000 crore.
The construction for the proposed shopping mall will start in 2024 itself, said Yusuff Ali MA, Chairman and Managing Director of Lulu Group International, talking to ANI on the sidelines of the ongoing Vibrant Gujarat Global Summit.
A miniature has been put up for display at the UAE stall in Vibrant Gujarat.
"The construction for India's biggest shopping mall will start, and it is a miniature (model). The construction will start this year itself," said Ali.
In September 2023, Yusuff Ali gave a hint that his group was going to set up two large shopping malls in India - in Ahmedabad and Chennai.
"We are going to construct one of the largest shopping malls in Ahmedabad and Chennai and we are opening our shopping mall in Hyderabad end of this month. Also we are going to different states for shopping malls and food processing," he had said, speaking to ANI.
Currently, it has malls in six Indian cities -- Kochi, Thiruvananthapuram, Bengaluru, Lucknow, Coimbatore, and Hyderabad being the latest. (ANI)
Essar Group is setting up a 1-gigawatt green hydrogen project (1,000 megawatt) in Gujarat's Jamnagar, besides expanding its ports and power businesses in the western state, news agency ANI quoted d Prashant Ruia, Promoter Director, Essar Group, as saying.
Speaking to ANI on the sidelines of the Vibrant Gujarat Global Summit, Ruia said, "We are focusing on three to four areas in India. In Gujarat, we are setting up a 1,000 MW green hydrogen project in Jamnagar. Also, we want to expand our existing power and port projects."
India's Foreign Secretary Vinay Kwatra said: "Four MOUs signed with the UAE one relates to the investment corporation in the innovative healthcare projects. The very title of this particular MOU will clearly signify that the investment cooperation in this field will expand to include all areas of health sector engagement...Investment cooperation in the renewable energy sector is again wide-ranging and covers- renewable, including green hydrogen, including solar. Also, there is an inherent thought of possible grid connectivity between India and UAE in that space. Food Park Development is a project, which was first discussed under the I2U2 framework...": Meanwhile, here's what UAE's ambassador said:
At Vibrant Gujarat summit in Gandhinagar, Jayen Mehta, in-charge Managing Director GCMMF (Amul) said, "...We've entered into a joint venture with Sri Lankan govt with the aim make them self-sufficient in dairy. We're not just talking about exports of dairy products but also use our cooperative model to help farmers & consumers. We are also talking to some African countries."
Finance Minister Nirmala Sitharaman said on Wednesday that India will become third largest economy by 2027-28 with more than $5 trillion GDP. She was quoted by PTI as saying, "More than 50 crore Indians have bank accounts at present compared to 15 crore in 2014." She added, "India's economy to be worth USD 30 trillion by 2047."
At Vibrant Gujarat summit in Gandhinagar, Lakshmi Mittal, Executive Chairman of ArcelorMittal, said "I am quite confident that India can achieve 5 trillion dollar economy target. We will continue to expand our business in steel and mining, and we are also entering into renewable energy…For us, investing in renewable energy and investing in steal will be our future plan… We've signed big MoUs."
Prime Minister Narendra Modi held a bilateral meeting with Prime Minister of the Czech Republic Petr Fiala in Gandhinagar, Gujarat.
Gautam Adani, Chairman of the Adani Group on 10 January delivered a keynote address at the 10th Vibrant Gujarat Summit and praised Prime Minister Narendra Modi's international leadership and lauded his ability to not only to predict the future but to shape it. Read full report here
Prime Minister Narendra Modi shares candid moment with Morocco Industry & Commerce Minister Ryad Mezzour.
President of UAE, Mohamed bin Zayed Al Nahyan departs from Gujarat. He participated in the Vibrant Gujarat Global Summit 2024 as the chief guest. Earlier in the day, the UAE President had addressed the Vibrant Gujarat Global Summit 2024 at the Mahatma Mandir Convention and Exhibition Centre in Gandhinagar. The speech signified UAE's strong ties with India and Prime Minister Narendra Modi.
All major rating agencies are of the opinion that India will be among three largest economies in the world in next few years: PM Modi.
All major rating agencies are of the opinion that India will be among three largest economies in the world in next few years: PM Modi.
At the Vibrant Gujarat Global Summit 2024 in Gandhinagar, PM Narendra Modi said, "The participation of UAE President Sheikh Mohammed bin Zayed in this Summit, is a matter of great joy for us. His presence as the chief guest at Vibrant Gujarat Summit is a symbol of the ever-strengthening relations between India and UAE..."
Vibrant Gujarat Summit LIVE: At the Vibrant Gujarat Global Summit 2024 in Gandhinagar, PM Narendra Modi said, "In the recent past, India completed 75 years of independence. Now, India is working on its goal for the next 25 years. We have the goal of making it a developed country by the time it celebrates 100 years of independence. Therefore, these 25 years' duration is India's Amrit Kaal."
President of Timor-Leste, José Ramos-Horta said, "...In my previous position as the Senior Minister for Foreign Affairs, I wholeheartedly supported India's meriting right to be a permanent member of the UN Security Council. I am continuing to advocate for India and for Indonesia, two Asian countries, to be permanent members of a reformed, expanded, more representative UN Security Council."
Ryad Mezzour, Minister of Industry & Commerce, Morocco said, "The best and the most competitive country in producing cars is Bharat. Moreover, thanks to our ideal position as a continental and world-class hub...Morocco and Bharat can work closely through a South-South triangular cooperation to promote growth in Africa, India and the world. Indeed, our strategic partnership should also enable our countries to develop joint initiatives that include the entire African continent in the process of industrializing and developing economies but also to ensure food and health. The time is right for Morocco and Bharat to forge a stronger, more dynamic partnership..."
Tiit Riisalo, Minister of Economic Affairs and Information Technology, Estonia said, "...We are here to work together with nations and regions that share the same values - democracy, rule of law, market economy, drive forward. India certainly has instrumental role to play that those values prevail globally. You have proved it repeatedly, most recently with the excellent execution of the G20 presidency..."
Lord Tariq Ahmad, Minister of State (Middle East, North Africa, South Asia, United Nations and the Commonwealth), UK said "PM Modi, you defined the living bridge between the United Kingdom and India. I want to extend the greetings from my Prime Minister Rishi Sunak, the son-in-law of India. This Summit has truly in every sense served as a master class on how to go about attracting Global investors. Our nations may be separated by thousands of miles geographically, but that vast distance can diminish with the warmth between our people, that living bridge and there is so much in common between our two nations..."
President of Suzuki Motors, Toshihiro Suzuki, expressed his honour at being invited to the Vibrant Gujarat Global Summit 2024 and lauded the remarkable growth of the Indian automobile market in the past decade.
Acknowledging the strong leadership and unwavering support of Prime Minister Modi, Suzuki emphasized that India has now secured its position as the third-largest automobile market globally.
During his address at the summit, President Toshihiro Suzuki announced Suzuki Motors' groundbreaking venture into the electric vehicle (EV) market.
On the inaugural day of the Vibrant Gujarat Global Summit, Lakshmi Mittal, Chairperson of ArcelorMittal, commended the event's institutionalised structure, rooted in ideas, imagination, and process continuity.
Reflecting on his visit in September the previous year, Mittal shared insights into Prime Minister Modi's visionary theme for the summit, 'One Earth, One Family, and One Future,' predicting that it would significantly elevate India's pride on the global stage.
Mittal said, "I had come here in September last year for Vibrant Gujarat. PM Modi then briefed us on how this mega-global event has institutionalised structure on the basis of ideas, imagination and process continuity. The PM had then said that India's pride will increase with the theme of 'One Earth, One Family and One Future".
Vibrant Gujarat Summit LIVE: Maruti Suzuki India will invest ₹35,000 crore to set up its second manufacturing facility in Gujarat, Suzuki Motor Corporation President Toshihiro Suzuki said on Wednesday.
Speaking here at the 10th Vibrant Gujarat Global Summit (VGGS), Toshihiro said the plant would have an installed production capacity of 10 lakh units per annum.
"We will invest ₹35,000 crore for the construction of a second car plant in Gujarat which would produce another one million units per year. As a result, the annual production capacity in Gujarat will be two million units -- 1 million units at Suzuki Motor Gujarat and one million units at the second new plant," Suzuki said.
While addressing Nikhil Kamath, Co-Founder & CFO, Zerodha said, "The last 10 years has been incredible and I'm not the only exception here in India, there are many other exceptions like me. The big change in India from the last decade has been that entrepreneurship has moved from something that we have all watched around us, heard in movies or thought could happen, something that we aspire to, to entrepreneurship today, which is something that we all are actively trying. You could take an example of this being a housewife watching Shark Tank, a small-time shoe salesman selling online on Flipkart. These are not stories that existed ten years ago. To that one man in the audience here today who has facilitated the stable ecosystem, I would like to say thank you PM Modi for having created this ecosystem..."
Vibrant Gujarat Summit LIVE: Tata Sons Chairman Natarajan Chandrasekaran said, "The impact of economic development has also resulted in tremendous social development. Gujarat clearly has established itself as the gateway to the future. For the Tata Group, Gujarat is a very special place...Recently, we have made significant commitments to expand our presence in the state of Gujarat. Sanand is becoming home for all our electric vehicles' technology. We expanded the footprint in Sanand with additional capacity so that we can meet the growing demands of electric vehicles. We are about to launch the building of a huge giga factory for 20 GWs of lithium-ion batteries in Sanand, the project should start construction in the next couple of months."
Vibrant Gujarat Summit LIVE: Ready to commission giga factory in Gujarat in second half of 2024, says Reliance chairman Mukesh Ambani
Vibrant Gujarat Summit LIVE: During his speech at the VGGS 2024, Mukesh Ambani said that India will bid for the 2036 Olympics, and Reliance Industries will make major investments in Gujarat for the same
Vibrant Gujarat Summit LIVE: CEO of Micron Technology, Sanjay Mehrotra said, "PM Modi's vision to make India a global hub for semiconductors will be a huge economic driver for India's future as India marches towards becoming the third largest global economy. There is a tremendous opportunity ahead for India in semiconductors. Vibrant Gujarat will also address the visionary ideas that are critical for India's growth as a semiconductor power. Today, I'm proud to represent Micron, one of the world's largest semiconductor companies and the leader in memory and storage. Micron's innovations have been at the heart of all computing systems for more than four decades. Memory is a key enabler of AI and Micron is a leading powerhouse in memory. I'm proud that in June we announced plans to build a world-class memory assembly and test facility right here in Gujarat, the first of its kind in India..."
Vibrant Gujarat Summit LIVE: Adani Group Chairperson Gautam Adani says, "We are expanding the green supply chain for an Aatmanirbhar Bharat and creating the largest integrated, renewable energy ecosystem...Over the next five years, the Adani group will invest over ₹2 Lakh Crores in Gujarat."
Vibrant Gujarat Summit LIVE: Vibrant Gujarat Global Summit 2024 | Reliance Industries Chairman and MD Mukesh Ambani said, "...Reliance was, is and will always remain a Gujarati company...Reliance has invested over 150 billion dollars - ₹12 Lakh Crores - in creating world-class assets and capacities across India in last 10 years, of this more than 1/3rd has been invested in Gujarat alone."
President Suzuki Motors, Toshihiro Suzuki said, "The first Battery Electric Vehicle from Suzuki group will be rolled out from Suzuki Motor Gujarat by the end of this year. We plan to sell this model not only in India but also export to Japan and European countries. Secondly, to expand our BEV production in future, Suzuki Group will invest ₹3200 Crore in Suzuki Motor Gujarat to add a new 4th production line which can produce 2.5 Lakh units per year. This will increase the annual production capacity of Suzuki Motor Gujarat from the current 7.5 Lakh to 1 million units..."
While addressing the Vibrant Gujarat Summit, Mukesh Ambani called Modi the most successful Prime Minister. During his address, he said, “Welcome to Gujarat and the 10th Vibrant Gujarat Summit, the most prestigious investor summit in the world today. No other summit of this kind has continued for 20 long years — and going from strength to strength. This is a tribute to our PM Narendra bhai Modi’s vision and consistency.
I have been one of the fortunate few to have participated in every single edition of Vibrant Gujarat. I have come from the City of the Gateway of India to the Gateway of Modern India’s Growth - Gujarat. I am a proud Gujarati.
When foreigners think of NEW INDIA, they think of a New Gujarat'"
Vibrant Gujarat Summit LIVE: I am elated to tell you that 50 per cent of MoUs signed during this Summit are 'Green MoUs'," says Gujarat CM Bhupendra Patel during the opening ceremony of Vibrant Summit 2024 in Gandhinagar.
UAE President Mohamed bin Zayed Al Nahyan address the Vibrant Gujarat Global Summit 2024 at Mahatma Mandir Convention & Exhibition Centre in Gandhinagar. The President of the United Arab Emirates (UAE), Mohammed bin Zayed Al Nahyan, met Prime Minister Narendra Modi on Wednesday as the Vibrant Gujarat Global Summit 2024 began in Gandhinagar.
The two leaders shook hands as they exchanged greetings minutes before the summit commenced in Gujarat.
Soon after PM Modi met with the heads of state/government today, he along with UAE President Mohamed bin Zayed Al Nahyan, Prime Minister of the Czech Republic Petr Fiala, Mozambique President Filipe Jacinto Nyusi, President of Timor-Leste Jose Ramos-Horta, Gujarat CM Bhupendra Patel, and Gujarat Governor Acharya Devvrat posed for a group photograph at the Vibrant Gujarat Global Summit 2024 in Gandhinagar.
Vibrant Gujarat Summit LIVE: Gujarat CM Bhupendra Patel said "...I welcome 34 partner countries and delegates from over 130 countries to the Vibrant Gujarat Summit...PM Modi has taken the idea of 'One Earth, One Family, One Future' to the world. The success of India's G20 presidency has made the country proud..."
Vibrant Gujarat Summit LIVE: Vibrant Gujarat Global Summit 2024 began with vibrant music performance. Prime Minister Narendra Modi attends Vibrant Gujarat Global Summit 2024 at Mahatma Mandir Convention & Exhibition Centre in Gandhinagar.
Prime Minister Narendra Modi, UAE President Mohamed bin Zayed Al Nahyan, Prime Minister of the Czech Republic Petr Fiala, Mozambique President Filipe Jacinto Nyusi, President of Timor-Leste José Ramos-Horta, Gujarat CM Bhupendra Patel, Gujarat Governor Acharya Devvrat at Mahatma Mandir Convention & Exhibition Centre in Gandhinagar during the Vibrant Gujarat Global Summit 2024
On Tuesday, PM Modi held bilateral meetings with Mozambique President Filipe Jacinto Nyusi. The Vibrant Gujarat Global Summit, which was started in 2003 when Modi was state CM, is a global forum for business collaboration, knowledge sharing and strategic partnerships for inclusive growth and sustainable development, a statement issued by the PMO said.
Vibrant Gujarat Summit LIVE: While speaking to news agency ANI, Matthew Johnston, Minister Counsellor, Education and Research Australian High Commission said, "It is a great pleasure to be here today. We are really proud that Deakin University will be the first foreign university to establish an international branch campus at Gift City, here in India. We are happy to be supporting Govt of India and Govt of Gujarat's aim and ambition of education..."
PM Narendra Modi will inaugurate the Vibrant Gujarat Summit 2024 at Mahatma Mandir, Gandhinagar on Wednesday, January 10. As per HT report, The inauguration is expected to take place at 10 am today
PM Modi in Gujarat LIVE: One97 Communications Limited (OCL) that owns the brand Paytm, India's leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, today announced an investment of Rs100 crore in Gujarat International Finance Tec-City (GIFT City) to build a global financial ecosystem, ahead of the Vibrant Gujarat Global Summit 2024, in Gandhinagar. The company will make the investment over a period of time and will seek requisite approvals for the same.
PM Modi in Gujarat LIVE: On Vibrant Gujarat Global Summit 2024, CEO of QX Global Group, Frank Robinson said, "Gujarat is a growth state. Our business is headquartered here in Gujarat. We are delighted that PM Modi's vision is for growth... Like PM Modi we have a vision of making Gujarat the global hub of accountancy..."
Natasha Kachaku, ICT Office, Parliament of Uganda said "...Uganda will look to make some investments in India. Our Speaker will meet people here and look for investment opportunities here. India and Uganda are very good friends. There are several Indians in Uganda living there for more than 100 years..."
