The much-awaited Vibrant Gujarat Summit 2024, a biennial extravaganza hosted by the Gujarat government to bring together key policymakers and investors, is poised to witness the presence of key global leaders.
Among the notable guests are President Mohamed bin Zayed Al Nahyan of the United Arab Emirates (UAE) and Mozambique’s President Filipe Nyusi, marking a significant diplomatic and economic convergence. The 10th Vibrant Gujarat Global Summit is set for January 10-12, 2024, at the Mahatma Mandir Convention and Exhibition Centre in Gandhinagar, Gujarat.
The Vibrant Gujarat Summit, initiated by Prime Minister Narendra Modi during his tenure as Chief Minister of Gujarat in 2003, has evolved into a key platform attracting top-tier business leaders, investors, and policymakers. The summit has grown exponentially with each edition, reflecting its pivotal role in advancing India’s economic agenda.
Prime Minister Modi extended a formal invitation to UAE President Mohamed bin Zayed Al Nahyan during his visit to Dubai on December 1st where they met on the sidelines of the Climate Summit. This visit marked PM Modi’s second trip to the UAE that year, underscoring the deepening ties between the two nations.
The UAE stands as the seventh-largest investor in India in terms of Foreign Direct Investment (FDI). Last year’s signing of the Comprehensive Economic Partnership Agreement (CEPA) and the agreement to trade in national currencies further solidified the economic partnership. Since 2014, Prime Minister Modi has made six visits to the UAE, including two visits in 2023 and one each in 2022, 2019, 2018, and 2015.
Simultaneously, India’s economic engagement with Mozambique has been on an upward trajectory, particularly in the energy sector.
Indian companies have made substantial investments, constituting nearly a quarter of India’s total FDIs in Africa. Minister of External Affairs, S. Jaishankar, and Energy Minister Hardeep Singh Puri’s visits to Mozambique in April and October, respectively, signify the strategic importance of these partnerships for India’s energy security.
Minister Puri, during his visit, conducted a thorough review of the 7,500-hectare site earmarked for India’s LNG Project in Mozambique’s Cabo Delgado.
The $20 billion initiative, wherein three Indian Public Sector Undertakings (PSUs) possess a significant 30 per cent stake, assumes paramount strategic significance in India’s pursuit of energy sufficiency.
The Vibrant Gujarat Summit is expected to draw diverse delegations from several countries, with robust participation from Russia, including governors from the far east. The event has consistently attracted foreign leaders and investors, showcasing Gujarat as a key investment destination.
MSN
