Vibrant Gujarat 2024 (img: X/@cmogujarat)

The global trade show in Gujarat had a ‘knowledge economy and startup’ pavilion’, which featured projects from the representatives of technical institution students, government and private universities, and entrepreneurs.

Rajeshkumar Sindh, union secretary of the department of commerce and industry said, “Startups have been started in schools of the state through the medium of I-Hub. For which a fund of ₹1 cr has been sanctioned. India has become the third-largest country in the world in terms of startups.” 

“When our department launched the ‘Startup India’ mission in 2016, there were around 300 startups. Our department first funded 129 industry-worthy startups with funding of ₹10,000 crore. Today 915 startups received More than ₹70,000 crores have been given,” he added.

Cabinet minister of industries, Balwantsinh Rajput said, “More than 4,000 women are unemployed in Gujarat. More than 900 patents have been granted till now due to liberal policy of startups in Gujarat.”

Charging ahead towards 2047

Nitin Gadkari, the minister of road transport and highways of India, addressed the conference on electric vehicles (EVs), highlighting India’s stride in the sector. According to the minister, India was the 7th largest auto manufacturer in the world, and now, in the third place.

The EV industry of India amounts to ₹12.5 lakh crores, with ₹4 lakh crore contributing to the exports. The industry is likely to reach a market of ₹1 crore of sales a year by 2023, and will create 5 crore jobs, said  Gadkari.

Talking about Gujarat, he said that the state currently has 1.7 lakh electric vehicles. Compared to 2022, the sale of EVs in the state has gone 600% up.

Ports and shipping sector

Union minister of ports, shipping and waterways, Sarbananda Sonowal, while participating in the seminar on port-led development under the Vibrant Summit stated that, development projects exceeding ₹4,500 cr are currently in progress for the container terminal at Deendayal Port in Kandla.

The setting up of the Green Hydrogen park and the plan to designate Kandla port as a green hydrogen hub is also in the pipeline, he added.

The government also announced a project to develop 10 green field ports across the state, aiming to increase port capacity, and provide an additional habilitation site for the locals.

Keith Svendsen, CEO at APM Terminals, focused on port-led sector development, and mentioned that increased shipping and logistics connectivity will help create new job opportunities.

Chief principal secretary to the CM, K Kailasanathan spoke about the strategic significance of Gujarat's geographical location, being closest to the countries of the Middle East, Africa, and Europe. He advocated for an expansion of the port policy, citing Gujarat’s potential.

He added that the objective is to elevate the capacity of Gujarat’s ports to 2tn metric tonnes by the year 2047. 

An international port city spanning an area of about 500 sq km in the state is aimed to increase port capacity to 250 to 500m metric tonnes per annum.

IIM-A campus in Dubai

The Indian Institute of Management (IIM)-Ahmedabad announced at the Vibrant Summit on Jan 11 that it will commence operations at their branch in Dubai, known as IIM-Ahmedabad in Dubai.

It was in 2019 that the institute’s first overseas branch was established at the Dubai International Financial Center (DIFC).

The institute will also connect with other countries in the Middle East regarding this project.

The institute is set to offer customised programmes in its Executive Education Programme starting in April this year.

The manager of IIM-A’s executive education programme, Urvashi Sharma, said that 100 different types of modules, ranging from three days to six months, will be conducted at this institute.

This announcement was made following a high demand experienced in industries like infrastructure and hospitality, said Sharma.

University of San Diego campus in GIFT

The United States’ (US) University of San Diego is set to establish its campus in Gujarat’s GIFT City.

The university will sign an MoU with the state’s education department, IIT-Gandhinagar, and other universities. This will be the university’s first campus in India.

Dr Chell Roberts, dean, Shiley-Marcos School of Engineering at the University of San Diego said, “We are signing an MoU with the Ministry of Education and IIT Gandhinagar. We are also eyeing agreements of dual-degrees with other universities.”

He added, “An option will be provided to study half of the time in the US, and half in Gujarat. We are also going to introduce an online programme.”

The university initially intends to offer online programmes in AI, data science, and cyber security. The online programme is expected to start from April this year.

Investments in GIFT

Chairpersons and CEOs of 26 global companies from across the globe have given a positive nod to invest in Gujarat’s GIFT City.

In the presence of prime minister Narendra Modi, the Global FinTech Leadership Forum was held at the financial hub on Jan 10.

The forum saw the presence of world’s top leading fintech companies, alongside business leaders Mukesh Ambani, Sanjay Malhotra, and Lakshmi Mittal, among others.

Key announcements related to GIFT City:

1. Abu Dhabi Investment Authority became the first sovereign fund to set up a base in GIFT City.

2. Apex Group to set up an office for providing fund accounting services.

3. Japan’s Mizuho Bank to set up an office in the city.

4. Australia’s Deakin University’s branch campus inaugurated in GIFT City.

5. Transworld Group to set up an office for ship leasing and aircraft leasing activities.

6. Accenture showcased a desire to establish its presence.

7. The Education Centre of Australia to become a service provider for overseas universities.

8. Bullion trading desk to be set up by the USA’s StoneX Group.

9. ONGC Videsh to set up a finance company for treasury operations.

10. Wipro has applied for TechFin operations in the city.

11. Hiranandani group to set up a ₹500 cr data centre at the city.

12. PayTM to invest ₹100 cr in the hub.

13. 26 aircraft leasing companies will be established in the city.

14. Yotta to set up an AI-based data centre in GIFT City.

Other exhibitions

Another pavilion featured ‘gateway to the future’ theme, where exhibitions related to NEP 2020, western zone vice chancellor conclave, Gujarat common admission services, student start up conclave, public university act were held.

On the B2B (business to business) front, a total of 33 meetings were held with 12 seminars, for education institutions to sign memorandums of understanding (MoUs) with industrialists. The seminars were attended by many through online and offline mediums, including chief secretary Mukesh Kumar.

With Gujarat’s bid to hold 2036 Olympics, an exhibition showcased a model of Olympic stadiums and replica pavilions, giving a peep into the future.

The electric vehicle exhibition also showcased a number of vehicles, right from bicycles to tractors. Moreover, the models of Hindustan Aeronautical Limited helicopters, submarines, and Tejas aircraft were also the centre of attraction.

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