Gujarat CM Bhupendra Patel highlights success of Vibrant Summit in Mumbai roadshow
Subtitle: Gujarat targets 14% CAGR in manufacturing by 2027
Gandhinagar : Gujarat Chief Minister Bhupendra Patel on Wednesday informed business-industry leaders and Consul Generals of various countries about the success of two decades of Vibrant Summit in the road show of Vibrant Gujarat Global Summit-2024 held in Mumbai.
Patel said that Gujarat is committed to make an excellent contribution to Prime Minister Narendra Modi's vision of making the country a 5 trillion dollar economy.
He also held a one-to-one meeting with 13 leading industry operators and informed about the continued success of Gujarat's Vibrant Summit and said that due to this, Gujarat has become a role model of development.
The Chief Minister said that due to the continuous success of the Prime Minister's brain child concept Vibrant Gujarat Global Summit, the Gross State Domestic Product (GSDP) of Gujarat has increased from Rs 1.42 lakh crore in 2003 to Rs 22.61 lakh crore today in 2023. Gujarat's economy has grown at a cumulative annual growth rate of 15 percent, higher than the country's average growth rate.
Patel also highlighted the state's focus on emerging areas such as semiconductor manufacturing, green hydrogen, electric vehicle (EV), pharmaceutical and textile and technical textile. He said that the aim is to achieve compound annual growth rate (CAGR) of 14 percent by 2027 in these sectors.
"By organizing seminars and events on such emerging areas in the upcoming Vibrant Summit, we will also realize the theme of Vibrant Summit – 'Gateway to the Future'," he said.
The Chief Minister invited leaders from business, industry and finance to participate in the Vibrant Summit to tap the immense potential present in every sector in Gujarat.
On this occasion, Gujarat Finance and Energy Minister Kanubhai Desai, Industries Minister Balwant Singh Rajput and Jagdish Vishwakarma, along with Chief Principal Secretary to the Chief Minister K. Kailashnathan, Chief Secretary Raj Kumar, Chief Secretary S.J. Haider, Group Chairman of Reliance Industries Dhanraj Nathwani, Country Head of Bank of America Kaku Nakhate, Kulin Lalbhai of Arvind Limited etc. were present. Sanjeev Puri, President-designate of Confederation of Indian Industry (CII) welcomed everyone.
