Vibrant Gujarat Summit ’11 will now be Vibrant India Summit

The 5th Vibrant Gujarat Global Investors Summit (VGGIS) to be held in January 2011 promises to be a true Global Investors Summit for India. Promoted as the 'Davos in Action' world summit, the VGGIS will, for the first time, see participation from various states of the country and premium business  associations and organisations.

The states and organizations will compete with each other to woo investors. Highly placed sources in the state industry department said that in the last two events the focus was on creating a platform for investors keen on investing in the state.

"But for the first time, the VGGIS 2011 summit will provide platform to other states and groups like various chambers of commerces and industry associations to market their respective states," the source said. Minister of state for industry and finance Saurabh Patel confirmed that formal invitations have been sent to all states to attend the VGGIS 2011. "Some states have already shown keen interest.

VGGIS 2011 will not only provide them a space to exhibit and market themselves, but will also make arrangement for B2B meetings and signing of MOUs," Patel said.

He said that states can market their schemes, incentives for industry and other such things at the VGGIS 2011. He said state and national industry associations have also been invited. Patel had earlier said in the state assembly that around 60 countries and 1000 foreign delegates were expected to participate in this summit.

"A Mahatma Mandir is being set up in Gandhinagar to mark 50 years of Gujarat's formation at a cost of Rs100 crore and the 5th VGGIS will be held here," he had said.

In a deviation from the previous events, the upcoming summit has been renamed as 'Vibrant Gujarat 2011: The Global Business Hub' instead of 'Vibrant Gujarat Global Investors' Summit'.

A source close to the development said that Japan was a 'partner country' in the 2009 edition of the summit and World Trade Organisation (WTO) is also likely to be associated with the event this time around.

"We are expecting seven countries to formally associate with the summit. Some have already communicated their consent," said the source.

The source said that while Japan, through Japan External Trade Organisation (Jetro), will continue their association, Canada, Kenya, Nigeria and some other African countries are also likely to join as event partner.

"This time, the main objective of the summit is not limited to signing MoUs. Focus will be on establishing Gujarat as Global Business Hub," said a senior official in the state industry department.

During the last event in January 2009, nearly 7,000 MoUs worth $240 billion were signed.