New Delhi: Prime Minister Narendra Modi Wednesday said that India would soon emerge as the global economic powerhouse.
An official spokesman in a statement issued to the Press Information Bureau (PIB) quoted the PM while addressing the programme marking 20 years celebration of the Vibrant Gujarat Global Summit at Science City in Ahmedabad as saying, “Today India is the fastest growing economy in the world. Now we are standing at a turning point where India is going to become a global economic powerhouse. Now, India has to become the third largest economy in the world.”
Modi said that this was not the time to pause.
“The next 20 years are more important than the last 20 years. When Vibrant Gujarat completes 40 years, India will not be far away from the centenary of its independence. This is the time when India will have to create a roadmap that will make it a developed and self-reliant nation by 2047,” he said expressing hope that the summit would move in this direction.
The PM said that the seeds sown 20 years ago had taken the form of a magnificent and diverse ‘Vibrant Gujarat’.
He expressed delight at becoming a part of the 20th-anniversary celebrations of ‘Vibrant Gujarat Summit’.
Reiterating that ‘Vibrant Gujarat’ was not merely a branding exercise for the state but an occasion to strengthen the bonding, Modi emphasised that the summit was a symbol of a solid bond associated with him and the capabilities of 7 crore people of the state.
“This bond is based upon the immense love of the people for me,” he said.
The PM said it was difficult to imagine the condition of Gujarat after the 2001 earthquake.
“Even before the earthquake, Gujarat was undergoing a long drought. These were compounded by the collapse of Madhavpura Mercantile Cooperative Bank leading to a chain reaction in other cooperative banks also,” he said.
Modi recalled that it was a new experience for him as he was new in the role in the government at that time.
“In this scenario, violence erupted in Gujarat in the wake of the heart-rending Godhara incident,” he said.
The PM said that despite his lack of experience as chief minister, he had full confidence in Gujarat and its people.
He also recalled agenda-driven doomsayers of the time as a conspiracy to defame Gujarat was pursued. “I took a pledge that whatever be the circumstances, I will take Gujarat out of this situation. We were not just thinking about reconstruction but were also planning for its future and we made the Vibrant Gujarat Summit one the chief medium for this,” Modi said.
He highlighted that ‘Vibrant Gujarat’ had become a medium for uplifting the spirits of the state and engaging with the world.
He underlined that the summit became a medium to showcase the decision-making and focused approach of the state government to the world while also bringing to the fore, the industry potential of the country.
The PM said that ‘Vibrant Gujarat’ had been effectively used to present countless opportunities in a multitude of sectors, showcase the talent pool of the country, and highlight the nation’s divinity, grandeur and cultural traditions.
Speaking about the time of organisation of the summit, he mentioned that ‘Vibrant Gujarat’ became a festival for the industrial development of the state as it is organised during the hustle and bustle of Navratri and Garba.
Modi remembered the indifference of the then central government towards Gujarat.
“Despite my dictum of ‘country’s development through the development of Gujarat’, the development of Gujarat was seen from a political prism. Foreign Investors chose Gujarat despite intimidation. This was despite no special incentive,” he said.
The PM said that the main attraction was good governance, fair and policy-driven governance, and an equal system of growth and transparency.
Recalling the 2009 edition of ‘Vibrant Gujarat’ when the entire world was going through a recession, he said that as the then chief minister of the state, he emphasised going forward and organising the event.
Modi said that as a result a new chapter of Gujarat’s success was written during the 2009 ‘Vibrant Gujarat Summit’.
He explained the success of the summit through its journey.
“The 2003 edition attracted only a few hundred participants; today more than 40000 participants and delegates and 135 countries take part in the summit, he informed. The number of exhibitors has also increased from 30 in 2003 to more than 2000 today,” the PM said.
He said that the core elements of the success of ‘Vibrant Gujarat’ were idea, imagination, and implementation.
Modi underlined the audacity of the idea and imagination behind the ‘Vibrant Gujarat’ and said that it was followed in other states.
“However great the idea may be, they must mobilise the system and deliver results,” he said as he noted that this organisation of such scale requires intense planning, investments in capacity building, meticulous monitoring, and dedication.
The PM reiterated that with ‘Vibrant Gujarat’, the state government with the same officers, resources, and regulations achieved what was unimaginable for any other government.
He said that today, ‘Vibrant Gujarat’ had become an institution from a one-time event with an ongoing system and process within and outside government.
Modi emphasised the spirit of ‘Vibrant Gujarat’ that aimed to benefit every state of the country.
He remembered requesting other states to avail the opportunity that the summit offered.
Noting that the identity of Gujarat in the 20th century was that of trader-based, the PM said that the transformation from the 20th to the 21st century led Gujarat to become a powerhouse in agriculture and a financial hub, and the state got its new identity as an industrial and manufacturing ecosystem.
He also said that the trade-based reputation of Gujarat was strengthened.
Modi credited the success of such developments to ‘Vibrant Gujarat’ which was working as an incubator for ideas, innovation, and industries.
Referring to the success stories and case studies from the past 20 years that have been made possible with effective policy-making and efficient project implementation, he gave the example of the growth in investments and employment in the textile and apparel industry and also mentioned the record growth in exports.
The PM touched upon the automobile sector where investments rose 9 times in comparison to 2001, a 12-time jump in the manufacturing output, a 75 percent contribution in India’s dyes and intermediates manufacturing, the highest share in investment in agro and food processing industry in the country, more than 30,000 operational food processing units, more than 50 percent share in medical devices manufacturing and about 80 percent share in Cardiac Stents manufacturing, processing of more than 70 percent of the world’s diamonds, 80 percent contribution to India’s diamond exports, and 90 percent share in the ceramic market of the country with about 10 thousand manufacturing units of ceramic tiles, sanitary ware and different ceramic products.
He said that Gujarat was the largest exporter in India with a current transactional value of 2 billion US dollars.
“Defense manufacturing will be a very big sector in the coming times,” Modi said.
“When we started ‘Vibrant Gujarat’, we intended that this state should become the growth engine of the country’s progress. The country has seen this vision become reality,” he said.
The PM said that 2014’s goal of making India the growth engine of the world is finding resonance among international agencies and experts.
He asked the industrialists to focus on sectors that will help in giving new possibilities to India.
Modi asked for a discussion of ways of giving momentum to the startup ecosystem, agri-tech, food processing, and Shri Anna.
Talking about the growing need for institutions of financial cooperation, he commented on the increasing relevance of GiFT City.
“GIFT City reflects our Whole of Government approach. Here the Centre, State, and IFSC authorities work together to create the best regulatory environment in the world. We should intensify efforts to make it a globally competitive financial marketplace,” the PM said.