From 100 Participants in 2003, Evolution of the Vibrant Gujarat Global Summit
From its humble beginnings in 2003, the Vibrant Gujarat Global Summit has steadily evolved into a remarkable success story, playing a pivotal role in reshaping the economic landscape of the region. This transformational journey commenced at a community hall in Ahmedabad, where just 100 participants gathered in September 2003.
The genesis of this event can be traced back to the challenging times that Gujarat faced in the early 2000s. In 2001, Narendra Modi assumed office as the Chief Minister of Gujarat following a devastating earthquake in the Kutch region. The subsequent collapse of the Madhavpura Mercantile Cooperative Bank compounded the state's woes, affecting 133 more banks. Additionally, communal riots tarnished the state's image.
In response to this despair, Modi conceived the idea of the biennial Vibrant Gujarat Global Summit. The primary objective was to rejuvenate investor confidence in the state. Over the years, this event has grown in scale and significance. In 2005, the exhibition area was expanded threefold, sparking increased interest among exhibitors and participants.
A pivotal moment came in 2007 when Modi proposed to Ratan Tata, the Chairman of the Tata Group, that they shift the production of the Nano car to Gujarat from West Bengal due to land acquisition protests. This move garnered the attention of top industrialists, like Tata, and led to significant investment commitments. Other states took note and began organizing similar events to attract investments.
The Vibrant Gujarat platform not only encouraged business-friendly policies but also showcased Gujarat's economic potential. It played a pivotal role in enhancing Modi's image, which eventually catapulted him to the position of Prime Minister in 2014.
In 2009, Japan became the first partner country to participate in the summit. Distinguished industrialists like Sunil Bharti Mittal and Anil Ambani lauded Modi as a national-level leader. The 2009 edition saw over 600 foreign delegates, including political dignitaries, highlighting the summit's growing international stature.
Recently, at an event marking the summit's 20-year journey, Modi emphasized its evolution into an institution. He recalled the challenges faced during his early days as Chief Minister and how the summit became instrumental in restoring faith in Gujarat. The number of participants has soared to over 40,000 from 135 countries, reflecting its global prominence.
The summit's growth from makeshift tents to accommodations provided by business houses and university guest houses is a testament to its expanding footprint.
It's worth noting that detailed information about the memoranda of understanding (MoUs) signed at the event hasn't been publicly disclosed since 2017. These MoUs, although non-binding, signify an entity's intent to invest in the state. However, it's important to note that a significant portion of these investments might still be in large infrastructure projects with extended gestation periods.
Some notable MoUs from past events include agreements related to Gujarat International Finance Tec-City, the Dholera Smart City Project, and Maruti Suzuki's car manufacturing projects. The Vibrant Gujarat Global Summit continues to serve as a significant catalyst for economic growth and investment in the state, showcasing Gujarat's commitment to transparent and policy-driven governance.
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