Vibrant Gujarat makes a strong pitch in Singapore for deeper business ties

Prime Minister Narendra Modi at the Vibrant Gujarat Global Summit 2017, at Mahatma Mandir, in Gandhinagar, Gujarat on January 10, 2017 Photo courtesy: MEA
Prime Minister Narendra Modi at the Vibrant Gujarat Global Summit 2017, at Mahatma Mandir, in Gandhinagar, Gujarat on January 10, 2017 Photo courtesy: MEA

The phrase Vibrant Gujarat makes a powerful and positive brand impression instantaneously. A head start, you will happily enjoy, when you are on a 24-country, roadshow to invite investors to India’s biggest investor show with the longest vintage. With an ambition to make it bigger than the previous, eight, edition, which attracted 55,000 registered visitors from 110 countries, saw the signing of 25,578 Memorandum of Understanding (MOU), a whopping 2,976 more than seventh Vibrant Gujarat.

India's High Commissioner to Singapore, Jawed Ashraf reiterated Prime Minister Modi's policy of growth with fiscal prudence Photo: Connected to India
India's High Commissioner to Singapore, Jawed Ashraf reiterated Prime Minister Modi's policy of growth with fiscal prudence Photo: Connected to India

The 9th edition of Vibrant Gujarat will take place between January 18-20 at the Mahatma Mandir Exhibition cum Convention Centre in the state’s capital Gandhinagar.

Touching upon the macroeconomic indicators of the country at Vibrant Gujarat’s Singapore roadshow, India’s high commissioner to Singapore, Jawed Ashraf, said, “There is a broad-based expansion in demand and growth across the economy. Tightening of monetary policies in the western markets has not made us take any knee-jerk reactions or take politically expedient steps to keep the pressures down.

“Economic stabilisation, reduction in the fiscal deficit from 5.3 percent of GDP to 3.5 percent, to consolidation of the economy, even as we are experiencing higher growth rates, following Prime Minister’s policy of growth with fiscal prudence make India as a whole a perfect country to invest.” Having said that His Excellency, added, “Fortunes to success in India lie in the states.” making a strong case for investing in the country and progressive state in the West of India.    

Rajkumar Beniwal, Managing Director of iDEXTb is gung-ho about the prospects of a very successful Vibrant Gujarat 2019 Photo: Connected to India
Rajkumar Beniwal, Managing Director of iDEXTb is gung-ho about the prospects of a very successful Vibrant Gujarat 2019 Photo: Connected to India

Riding on the stupendous success of the 8th edition two years back, Rajkumar Beniwal, Managing Director of iDEXTb (Industrial Extension Bureau) said, “We have sent delegations to 24 countries to promote the upcoming Vibrant Gujarat. One delegation is here to promote, to showcase our strength and invite investors to participate in the event.”  

In order to make it easy for guests from across the world to use the opportunity of coming to India to participate in Pravasi Bharatiya Divas and the Kumbh Mela we pushed the dates from early part of January to the current dates.” said Rajkumar.

Singapore was a partner country in last Vibrant Gujarat. “We want to invite a larger delegation this time. We are targeting financial and maritime sectors as well as the startup community,” added Rajkumar.

Sandip Shah, Lead, IFSC Banking, and Capital Markets, GIFT pitching India's first international financial and tech hub Photo: Connected to India

Sandip Shah, Lead, IFSC Banking, and Capital Markets, GIFT (Gujarat International Finance Tec City), “GIFT is an initiative of Gujarat government to create an IT and financial hub. This is the first and the only international financial services hub in the country. Working out of GIFT you can enjoy full account convertibility. This helps in inbound and outbound investment in the country. If anybody wants to launch an alternative investment fund they can launch in GIFT city, they can raise funds from overseas investors and if any Indian company wants to invest then they can set up a base and invest in an overseas company.”

Capital account convertibility is one of the bigger differentiators of developed countries when it comes to attracting investment. It allows companies to convert money into local currency and back to their own currency. Making it easy for them to take the money back to their country.

Author
Himanshu Verma
Himanshu Verma – Founder & CEO

Founder & ceo of Connected to India. Experience and understanding of working in print, electronic, on-mobile and online media. Led branding, marketing and communications teams at ESPN STAR Sports and PricewaterhouseCoopers. Found and divested digital marketing and communications consultancy, Like Minds Consulting to Fifth Ring of UK. Served as their MD for APAC.

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