 "Vibrant Gujarat Global Summit 2017 attracts Chinese attention")
Unlike previous editions, the eighth edition of the biennial Vibrant Gujarat Global Summit (VGGS) 2017 has attracted increased interest from China. Since last few months, the Gujarat government has been wooing Chinese investors for investment intentions and a more involved participation from the neighbouring country.
The efforts by the state government have already reaped benefits, even while the VGGS 2017 is still over a month away, with multiple memorandums of understanding (MoUs) worth $7 billion (Rs 47000 crore) already being signed with Chinese groups.
Of these, about $ 2 billion worth of MoUs have been signed with a single Chinese Group 'Sany' for multiple infrastructure projects in the state. The rest $ 5 billion came from multiple roadshows held in Beijing, Shanghai, Guangzhou and Shenzhen, where over 350 companies from these regions participated in China.
The MoU by Sany Group will see investment in projects like development of 1,000 Mw of Wind Power from 2017 to 2022, development of 1,000 Mw of wind plus solar power from 2017 to 2020, setting up facility for manufacturing of wind turbines, development of at least one small size smart city in line with the central government’s Smart City Mission initiative, and setting up factory for housing through pre-cast concrete for the Mass Housing Projects and other Real Estate Projects.
With the state ministers and bureaucrats leading delegations to over 25 countries including China, the neighbouring country's participation in the summit has grown visibly, given its virtual absence even in country seminars in the previous edition. While country specific investment data from the previous edition could not be availed, according to government sources, the latest edition has seen one of the highest participation from China.
So far, the government of Gujarat has signed key MoUs and investment proposals with Liaoning Province of The People’s Republic of China, Dynagreen Environmental Protection Group Co. Ltd, JCHK Holding Co. Ltd., Chengdu Xingrong Group, Pacific Construction Group, ZTEsoft Technology Co. Ltd and Sinoma Taishan Fibreglass Inc. More than 35 high level G2G and G2B meetings were conducted with government agencies and major companies of China. These MoUs are meant to be implemented across various industries in Gujarat in sectors like textiles, solar energy, fiber glass, waste processing for renewable energy, automobiles, software technologies, manufacturing industrial parks and infrastructure projects. "The time and environment is ideal for the Chinese companies to set up their businesses in Gujarat and cater to the growing Indian and world markets. Gujarat will not only act as an investment hub for Chinese companies to grow their businesses, but will also act as a gateway to access the whole world. China’s participation at the Vibrant Gujarat 2017 Summit will further strengthen the relationship which Gujarat shares with China. We see great opportunities to work together and the Vibrant Gujarat 2017 summit is the perfect platform to take the interaction forward," said Sanjay Prasad, IAS, Principal Secretary, Government of Gujarat, Agriculture and Cooperation Department who led a delegation to China recently.
In terms of country partners, the VGGS 2017 will see 12 nations partnering in the latest edition as against eight in the previous one. The 12 partner countries include Australia, Canada, Denmark, France, Japan, The Netherlands, Poland, Singapore, Sweden, UAE, UK and USA.