During the inauguration of the 10th Vibrant Gujarat Global Summit in Gandhinagar, Prime Minister Narendra Modi reiterated India’s trajectory to become one of the top three global economies. He highlighted India’s remarkable economic journey, ascending from the eleventh to the fifth largest economy in the past decade.
Modi expressed confidence that India would secure the third-largest economy status globally, emphasizing the impact of a decade of structural reforms that have bolstered the country’s capacity, capability, and competitiveness amid global challenges.
Vibrant Gujarat, initiated in 2003 during Modi’s tenure as the Chief Minister of the state, holds particular significance for Gujarat. The summit resumed this year after the 2021 edition was canceled due to pandemic constraints.
In his opening address, Modi outlined India’s strategic development goals for the next 25 years, envisioning a ‘viksit’ (developed) status by 2047, coinciding with the centennial of India’s independence. This period, termed India’s ‘Amrit Kaal,’ aligns with the nation’s developmental aspirations.
Although notable figures like Elon Musk from Tesla were absent, the summit attracted global business leaders, including Lakshmi Mittal (Arcelor Mittal), Toshihiro Suzuki (Suzuki Motor Corp), Mukesh Ambani (Reliance Industries), and others.
The event witnessed substantial investment commitments, with Mittal unveiling plans for the world’s largest steel plant in Gujarat by 2029, Suzuki pledging ₹35,000 crore to the state, and Ambani highlighting Reliance’s $150 billion investment in Gujarat over a decade. Additionally, Adani committed ₹55,000 crore until 2025 and an additional ₹2 trillion over the next five years.
Micron Technology’s CEO, Sanjay Mehrotra, announced the operationalization of the first phase of Micron’s assembly and test facility in Gujarat by early 2025. Tata Group revealed plans to establish a new semiconductor fabrication plant in Gujarat, with operations scheduled to commence in 2024.
The Vibrant Gujarat Summit, featuring participation from 34 partner countries and 16 organizations, is set to conclude on January 12 in Gandhinagar. The event not only emphasizes investment commitments but also underscores India’s strategic vision for sustainable economic growth and development.
