Saturday, January 22, 2011



5th Global Summit

Development takes the FRONT SEAT – when politics is pushed to the back-seat.

This is especially true for India. Gujarat is one state which has pushed Politics to the back seat. And so, has emerged as the preferred destination for development on a Grand Scale.

This was evident for all to see and for all those who want to learn a few lessons on development – at the 5th Vibrant Gujarat summit, 2011.

The Summit (VGS) 2011, a biennial event initiated in 2003, was  held on 2 days on the 12th & 13th, January, 2011, at Mahatama Mandir, near Gandhinagar.

An important feature of governance in Gujarat is – to integrate every VGS into the broader governance philosophy and day to day administration- without allowing it to become individual event.

Such Institutionalization of all economic development-related promotional activities under the VGS is a significant innovation deserving close study both nationally and internationally.

The Summit has become a model for economic success for all states. This event provides a great opportunity to the State to display its strengths, progressive stance, initiatives taken to improve governance, investor friendly climate and art & culture of Gujarat.

The summit gives local players an opportunity to interact with national and international players and with top Government officials from various departments and sectors.

It also encourages the bureaucracy, and motivates government workers and agencies to work hard and get organized.

It provides excellent networking opportunities through b2b meeting arrangements, network dinners, buyer seller meets, export pavilions and catalogue shows.

It was successful in bringing India’s business tycoons like Ratan Tata, Mukesh Ambani, Anil Ambani, Shashi Ruia, GV K Reddy et al., on one podium .

Narendra Modi’s intentions and plans for the State are inspiring as he says - “We can and we will convert the impossible to possible. “

Indians in all states wish – that their CMs do even better than Modi. All that they need to do is – Push development to the Front seat and push Politics to the Back seat.

Some of the details of the summit, as understood from various reports are as below :

SEMINARS : More than 13 Country and State seminars were organized during the 2 day long summit. These seminars were a great success and all these seminars were able to garner huge participation and investors’ interest.

COUNTRIES : The last 2009 summit had witnessed participation from nearly 45 countries. 2011 Summit had participation from 101 Countries, with over 1400 foreign delegates. Japan and Canada were the partner countries for the fifth VGS, along with UNIDO (United Nations Industrial Development Organisation). US, Australia, Rwanda and Mozambique were also officially represented.

OTHER STATES : Representatives from as many as 16 states (including Karnataka, Andhra Pradesh, Orissa, Madhya Pradesh, Chhattisgarh, and the Northeast states whose further rapid integration with the rest of the country is a national imperative) were said to be present at the Summit. The states also got a chance to pitch for investors. The fifth VGS enthusiastically provided opportunities to other states to promote business opportunities and investments in their states. The vision, therefore, is of VGS as an occasion for promoting India as a country, and not just the state of Gujarat. Such national vision is particularly welcome in the current environment.

MOUs : During 2009 summit, MoUs worth $240 billion were signed. In 2011 summit, about 7,936 MoUs were signed for Rs. 20,83,000 ($ 450 billion) crore.

MOUS vs JOB POTENTIAL : The MoUs signed at the 2011 Summit have the potential to create as many as 52 lakh jobs, while the corresponding number was 29.70 lakh in 2009.

INVESTMENT COMMITMENTS IN SUCCESSIVE VGS : The investment commitments have increased in successive VGSs. They were Rs.0.66 lakh crore in 2003; Rs.1 lakh crore in 2005; Rs.4.6 lakh crore in 2007; Rs12.44 lakh crore in 2009; and estimated at Rs.20.83 lakh crore in 2011.

The cumulative figure of the investment flow resulting from the four previous VGSs is officially projected at $370 billion (Rs.16.7 lakh crore).

The official estimates are that the proportion of projects announced during the 2007 and 2009 VGS that are being implemented is 40% and 60% respectively.

TIE-UPS : Around 100 tie-ups with leading institutions from across the globe for exchange of knowledge were forged.

MAHATMA MANDIR : This year a state of the art permanent structure “Mahatma Mandir “, was constructed for organizing the summit.

SPEAKERS: Over 350 speakers had participated in more than 30 seminars.

VISITORS : In 2009, the number was 20,000, which grew to 35,000 this time.

FOREIGN PARTICIPANTS : Increased from 600 in 2009, to 1,400 in 2011. Countries like Canada, Australia, Rwanda and Mozambique held separate seminars in a bid to woo potential investors.

TOWNSHIPS : Many MoUs have been signed, for 14 township projects in and around Ahmedabad. Although the township projects are conceived as long-term schemes, they will infuse considerable supply of residential units in the city — and will reduce the demand-supply gap. Three township projects have already been launched within the AMC and AUDA limits and a dozen more have been promised.

Judging by the enthusiasm of the participants and the State Government, and also the growing, tangible benefits flowing each succeeding summit, the VGS model is a grand success.

Hats off to Gujarat!!!

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