Vibrant Gujarat Summit LIVE | Economy's resilience outcome of structural reforms: Modi
The 10th edition of the Vibrant Gujarat Global Summit kicked off on a positive note on Wednesday (January 10) with Prime Minister Narendra Modi, who inaugurated the event, asserting that India will emerge as one of the largest economies in the next few years.
Several heads of states, and CEOs of top private companies including Adani Group founder Gautam Adani, chairman and managing director of Reliance Industries, Mukesh Ambani, and Tata Sons' chairperson N Chandrasekaran attended the summit.
Making a strong pitch to draw more foreign investments to India, Modi in his address said India will soon emerge as “vishwa mitra” (the friend of the world).
“In the rapidly changing world order, India is going ahead as vishwa mitra. India has given hope to the world that we can decide on common goals and achieve them. India's commitment to world welfare, its dedication, efforts and hard work are making today's world more secure and prosperous," he said.
"Today, the world looks at India as an important pillar of stability, a friend who can be trusted, a partner who believes in people-centric development, a voice that believes in global good, a voice of global south, an engine of growth in the global economy, a technology hub for finding solutions a powerhouse of talented youth, and a democracy that delivers," he added.
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Live Updates
- 10 Jan 2024 11:52 AM GMT
50% MoUs are ‘Green MoUs’: Bhupendra Patel
Welcoming the 35 partner countries and delegates from over 130 countries to the summit, Gujarat Chief Minister Bhupendra Patel said almost 50 per cent of the MoUs signed at the summit are ‘green MoUs’.
“I am extremely happy that 50 per cent of our MoUs are green MoUs. The green growth renewable energy sets a benchmark for a sustainable future in line with the honourable PM’s vision,” he said.
- 10 Jan 2024 11:19 AM GMT
4 MoUs signed with UAE: Indian Foreign Secretary
#WATCH | India's Foreign Secretary Vinay Kwatra says, "...This is the first Vibrant Gujarat Summit in the 'Amrit Kaal' period...The presence of many heads of state & governments, the presence of many ministers of large numbers of partner countries at this 10th Vibrant Gujarat… pic.twitter.com/KenEWCZ77U
— ANI (@ANI) January 10, 2024 - 10 Jan 2024 11:17 AM GMT
‘PM Modi’s Vibrant Gujarat Summit has become synonymous with India's economic resurgence’
#WATCH | India's Foreign Secretary Vinay Kwatra says, "...This is the first Vibrant Gujarat Summit in the 'Amrit Kaal' period...The presence of many heads of state & governments, the presence of many ministers of large numbers of partner countries at this 10th Vibrant Gujarat… pic.twitter.com/KenEWCZ77U
— ANI (@ANI) January 10, 2024 - 10 Jan 2024 11:12 AM GMT
#WATCH | At Vibrant Gujarat Summit in Gandhinagar, Union Commerce & Industry Minister Piyush Goyal says, "PM Gati Shakti, in the years to come, will become the planning tool of infrastructure not only for Asia but the entire world." pic.twitter.com/oAIPkqmGDK
— ANI (@ANI) January 10, 2024 - 10 Jan 2024 11:11 AM GMT
India to be a USD 5 trillion economy by FY28; reach USD 30 trillion by 2047: Sitharaman
India will become the third largest economy by 2027-28, with a GDP of over USD 5 trillion, Finance Minister Nirmala Sitharaman said at the Vibrant Gujarat summit on Wednesday.
Even going by conservative estimates, the size of the Indian economy will be USD 30 trillion by 2047, she noted.
“It is possible that we will be the third largest economy by 2027-28, and our GDP will cross USD 5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least USD 30 trillion in terms of economy," Sitharaman added.
India, with a GDP of roughly USD 3.4 trillion, is currently the fifth largest economy in the world, after the US, China, Japan and Germany.
Indian economy is projected to grow by 7.3 per cent in the current fiscal, higher than 7.2 per cent in 2022-23.
Sitharaman said India has received USD 919 billion in foreign direct investment in 23 years till 2023. Of this, 65 per cent, or USD 595 billion, came in the last eight to nine years of the Narendra Modi government.
Referring to financial inclusion, the minister said the number of people with bank accounts has increased from 15 crore in 2014 to 50 crore at present.
(With inputs from agencies)
- 10 Jan 2024 11:07 AM GMT
India will be a USD 30 trillion economy by 2047: NITI Aayog CEO
Asserting that 'Viksit Bharat' is not just a dream but a possibility, NITI Aayog CEO BVR Subrahmanyam on Wednesday said by most conservative estimates, India will be a USD 30 trillion economy by 2047.
Speaking at the 10th Vibrant Gujarat Global Summit, Subrahmanyam said India is in a position to take a quantum leap.
“Viksit Bharat is not just a dream, it's a possibility,” he said.
According to him, a vision document is being prepared for India to become a developed economy of USD 30 trillion by 2047, and it will be released by the Prime Minister by the end of January.
“By most conservative estimates, India is going to be a USD 30 trillion economy by 2047," Subrahmanyam said.
He noted that if all states become 'viksit' (developed) then the nation can also become viksit.
The NITI Aayog CEO noted that massive expansion in physical and digital infrastructure has taken place in India. "India is outperforming other emerging economies," he said, adding that this is a turning point in the country's history.
(With inputs from agencies)
- 10 Jan 2024 10:55 AM GMT
Proposal to establish Ayodhya-Janakpur as sister cities: Nepalese envoy
“Many people from Nepal will visit Ayodhya for the Ram temple inauguration. There is a proposal to establish Ayodhya -Janakpur as sister cities," says Nepal's envoy to India, Dr Shankar Prasad Sharma.
- 10 Jan 2024 10:51 AM GMT
#WATCH | On Vibrant Gujarat summit, Union MoS Darshana Jardosh & Surat MP says, "What PM said about the importance of the next 25 years for India, becoming a self-reliant country and making a global image, the vibrancy we need can be seen here....The way people here showed their… pic.twitter.com/npj2ZNFQ8E
— ANI (@ANI) January 10, 2024 - 10 Jan 2024 10:51 AM GMT
#WATCH | At Vibrant Gujarat summit, Prashant Ruia, Promoter Director, Essar group says, "We are establishing a Green Hydrogen project in Jamnagar, expanding the power plant existing here and also expanding the port business. In retail, we have LNG trucks & mobility to decarbonise… pic.twitter.com/SWKkEtclBy
— ANI (@ANI) January 10, 2024
