The much-anticipated Vibrant Gujarat summit, set to kick off this Wednesday, is poised to surpass its previous records, with expectations of exceeding the 2019 benchmark of 28,360 Memorandum of Understanding (MoU) signatures. After the pandemic-induced hiatus led to the cancellation of the 2021 edition, this year’s summit marks a significant comeback for the state.
Prime Minister Narendra Modi is scheduled to inaugurate the summit on Wednesday, marking his visit to Gujarat from Monday through January 10. The event is expected to draw attention from prominent business figures, including Lakshmi Mittal of ArcelorMittal, Mukesh Ambani, Gautam Adani, Kumar Mangalam Birla, Anil Agarwal of Vedanta Group, Uday Kotak, and Sameer Nigam of PhonePe.
Comparing previous editions, there were 21,304 Memorandums of Understanding in 2015, and the number increased to 24,774 in 2017, with approximately 70% being realized. Officials predict an even higher success rate this year, with an estimated 90% of the signed MoUs anticipated to be fulfilled.
Furthermore, following PM Modi’s attendance at the COP28 conference in Dubai in December, the summit is expected to bolster relations between India and the United Arab Emirates (UAE). On January 9, Sheikh Mohammed bin Zayed Al Nahyan, the President of the UAE, will serve as the chief guest at the Vibrant Gujarat summit.
The summit’s focus on cutting-edge technology will delve into industries such as semiconductors, green hydrogen, e-mobility, and space manufacturing. Boasting over 100,000 registrations, a substantial increase from 48,000 in 2019, and featuring 32 partner countries compared to 15 in the previous edition, this year’s Vibrant Gujarat is poised to set new benchmarks and reinforce its status as a premier business event.
