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Vibrant Gujarat Global Summit 2024: strengthening global partnerships and economic ties

EconomyVibrant Gujarat Global Summit 2024: strengthening global partnerships and economic ties

The Vibrant Gujarat Global Summit 2024 witnessed a convergence of global leaders, marking a significant chapter in fostering international collaborations and deepening economic ties. The summit, held in Gandhinagar, brought forth insights from prominent figures across the globe, highlighting the strategic partnerships and potential avenues for growth.

Hosaka Shin, Vice Minister for International Affairs, in Japan, emphasized the special strategic partnership between India and Japan. Shin highlighted the substantial investment by Japanese corporations in India, with a cumulative amount reaching an impressive 38.3 billion dollars between 2000 and 2023, making it the second-largest in the world. This reflects the enduring economic bond between the two nations.

Lord Tariq Ahmad, Minister of State (Middle East, North Africa, South Asia, United Nations, and the Commonwealth), UK, announced a Memorandum of Understanding (MoU) signifying closer collaboration between higher education institutions in India and the UK. He expressed the intention to deepen ties in the areas of the creative economy, cultural exchange, and business links. Lord Ahmad highlighted the blossoming friendship evolving into a new partnership, fostering economic prosperity and job creation.

Vahan Kerobyan, Minister of Economy, Armenia, stressed the increasing movement of trade and investments between India and Armenia. The bilateral investment floor showcased the deepening economic ties, with Armenian investments finding fertile ground in India and reciprocal growth in Armenia. This underlines the mutual commitment to fostering economic cooperation between the two nations.

Ryad Mezzour, Minister of Industry & Commerce, Morocco, recognized Bharat (India) as the best and most competitive country in producing cars. Mezzour highlighted the potential for South-South triangular cooperation between Morocco, Bharat, and the broader African continent to promote growth and development. The strategic partnership aims to enhance industrialization, and economic development, and ensure food and health security for both nations and the African continent.

Tiit Riisalo, Minister of Economic Affairs, Estonia, lauded India for upholding shared values of democracy, the rule of law, and a market economy. Riisalo expressed Estonia’s commitment to working with nations that share similar values, acknowledging India’s instrumental role in upholding these principles globally. He commended India’s recent execution of the G20 presidency, showcasing its commitment to advancing shared values on the global stage.

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