The state is now a hot investment destination The fifth edition of vibrant Gujarat summit has become a model of economic success that can be replicated by many states. The event provided a great opportunity for the state to display its strengths, initiatives taken to improve governance and the investor friendly climate, among other things. It not only gave local players an opportunity to interact with national and international players, but also with top government officials from various departments and sectors. Such events encourage and motivate the bureaucracy as well. More than 1,400 delegates from over 101 countries participated in the event that saw a record 7,936 MoUs being inked for $450 billion. This was significantly higher than the MoUs signed in the previous summit in January 2009. This time round, over 100 tie-ups were forged with leading institutions from across the globe for exchange of knowledge. A distinct feature of the summit was the participation of national and international delegates in large numbers. It also provided excellent networking opportunities through b2b meetings and buyer seller meets. Partnerships were forged not only in the industry space, but also in the areas of technology, innovation, academics and in social sectors. As our dynamic chief minister Narendra Modi pointed out, the focus this time was more on branding the state as a business hub rather than a pure investment destination. The summit has helped generate international investor confidence. Gujarat has also emerged as the most favoured business destination in India. The state keeps up with the commitments made to investors, and also facilitates timely execution of projects. Nothing can explain the success of Vibrant Gujarat better than the presence of India’s business tycoons including Ratan Tata, Mukesh Ambani, Anil Ambani, Gautam Adani, Adi Godrej, Sudhir Mehta, Prashant Ruia, GVK Reddy et al at the meet. The event has been successful in creating employment opportunities in tourism, handicrafts and knowledge sectors, besides garnering investments from across the world. Saurabh Patel
Minister of State for Finance, Gujarat