The 10th edition of the Vibrant Gujarat Global Summit (VGGS) on 10-12 January 2024 set a new benchmark in global business forums
The Summit with the theme ‘Gateway to the Future’ saw participation from more than 28 countries and 14 organizations.
This global summit attracted a diverse group of international partners from Australia, Bangladesh, Czech Republic, Egypt, Estonia, Finland, Germany, Indonesia, Japan, Kenya, Malaysia, Malta, Morocco, Mozambique, Nepal, Netherlands, Norway, Poland, Republic of Korea, Rwanda, Singapore, Tanzania, Thailand, the UAE, United Kingdom, Uruguay, Ghana, and Vietnam. This wide array of participants highlighted the growing global stature of the VGGS.
In addition to countries, several prominent organizations, including the American Chamber of Commerce in India (AMCHAM India), EPIC India-University of Chicago, Indo-American Chamber of Commerce (IACC), Indo-African Chamber of Commerce and Industry, International Solar Alliance, Japan External Trade Organization (JETRO), and Korea Trade and Investment Agency also attended the Summit. The active involvement of these organizations highlights the VGGS’s role as a platform for fostering international trade and investment.
Over the previous nine editions, the partner countries and organizations significantly contributed to high-profile representation and response for the summit, facilitating socio-economic and cultural collaborations. The state government of Gujarat recognised the crucial role of each partner country and organization in bolstering bilateral relations and contributing to the success of the VGGS. Their active participation was not only instrumental in promoting the summit across various platforms but also vital in enhancing collaboration, trade, and investment opportunities.
This year’s summit was the most grandiose in its history, reflecting two decades of progressive evolution. It strongly corroborated Gujarat’s developmental journey while embodying the state’s commitment to socio-economic advancement, aligning with Prime Minister Narendra Modi’s vision of a self-reliant and developed India by 2047 – Viksit Bharat@2047.
Over the years, Summit has evolved into a prominent platform for business networking, knowledge exchange, and fostering strategic partnerships for inclusive and sustainable growth. VGGS 2024 became an effective platform for attracting investments in emerging sectors such as semiconductors, green hydrogen, e-mobility, renewable energy, and FinTech among others.
The Vibrant Gujarat Global Trade Show 2024 was the focal point of the Summit. Spanning over 200,000 square meters, it was one of the world’s largest trade shows. The show was focused on ‘TECHADE and Disruptive Technologies’, emphasizing the Champion Services Sector, which includes Digital India initiatives, India Stack, and emerging technologies like Industry 4.0, Smart Manufacturing, AI/ML, and applications in various
service sectors.
The summit featured several thematic seminars on topics like Food Security, Advanced Technology, Startups & Innovation, Healthcare, Life Science, and Sustainability.
The Vibrant Gujarat Global Summit 2024 symbolizes a new era of business opportunities and strategic growth, not only for Gujarat but also for India, marking a crucial milestone in the state and country’s journey towards global leadership in various sectors.
The Singapore Business Federation (SBF) led a delegation of over 60 business representatives from nine companies, spanning sectors from technology and finance to infrastructure and environmental solutions. This delegation, participating in the Singapore Country Pavilion, highlighted Singapore’s capabilities and intent to deepen business ties with Gujarat.
The Pavilion, supported by Enterprise Singapore, was officially inaugurated by Mr. Cheong Ming Foong, Singapore’s Consul-General in Mumbai, and Mr. Prasoon Mukherjee, Vice Chairman of SBF’s South Asia Business Group. This participation underlines the significance of VGGS as a global forum for business networking, knowledge sharing, and strategic partnerships aimed at inclusive growth and sustainable development.
Gujarat’s economic clout, with a GSDP of US$ 259.25 billion and a year-on-year increase of seven percent, makes it an attractive destination for foreign direct investment (FDI). Singapore, as one of the largest sources of FDI in Gujarat, plays a crucial role in this economic narrative. The FDI inflows from Singapore to Gujarat, standing at US$2.2 billion between FY2017 and FY2021, underscore the deep economic bonds between the two regions.
The Singaporean delegation, led by Mr. Mukherjee and Mr. Kok Ping Soon, SBF CEO, met with Shri Bhupendrabhai Patel, the Honourable Chief Minister of Gujarat. This meeting was significant, not only for the exchange of business interests but also for the shared vision of developing Smart Industries Port Cities and allied infrastructure along the Gujarat coastline. Chief Minister Patel’s invitation to Singaporean companies to invest in these projects highlights the mutual commitment to fostering economic growth and development.
A cornerstone of Singapore’s participation was the Singapore Country Seminar, held on January 10th at VGGS. Themed “Singapore and India – Working Together for a Greener, Brighter Future,” the seminar was attended by notable dignitaries including the Honourable Minister of Industries of Gujarat and the Singapore High Commissioner to India. This seminar was a crucial platform for discussing and reinforcing the bilateral cooperation between Singapore and Gujarat. The High Commissioner, Simon Wong, emphasized the substantial investments by Singaporean companies in Gujarat, acknowledging the supportive role of both Indian and Gujarati governments in facilitating these investments.
The seminar included a fireside chat featuring distinguished panelists like Mr. A. Nithyanand from Sembcorp Industries, Mr. Vinesh Natali from Meinhardt EPCM Group, and Mr. Nagesh Prabhu Chinivartha from Zigma Global Environ Solutions, Blue Planet Group. These discussions provided insights into the synergies between Singaporean and Gujarati businesses, especially in technology, energy, and environmental solutions.
Celebrate INDIA REPUBLIC DAY 26th January 2024
Read more: IN Diplomacy INDIA Special 2024
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