Ahmedabad: Even as every sector is reeling under a severe cash crunch crisis as a result of demonetisation, the Gujarat government, which is preparing to organise the eighth edition of the Vibrant Gujarat Global Summit (VGGS), says that it expects no adverse impact whatsoever on the investments that will be pledged in the state during the summit.
Responding to a question by CNN News18, Gujarat Chief Secretary J N Singh said: “I do not see any impact of demonetisation on the event. In fact, I see a positive impact. Several players from the digitisation side, services side and other sectors will come. This was a temporary phase and people coming for the VGGS will be here for long-term investment.”
The Vibrant Gujarat summit – originally a brainchild of PM Narendra Modi when he was Gujarat chief minister - is organised every alternate year in Gujarat and has become a benchmark for investment and showcases the state as an investment friendly destination for companies across the world.
However, the Gujarat government has remained tight-lipped about how much of the proposed investment has actually been implemented over the years.
When asked about this, additional chief secretary (industries and mines) P K Taneja said,“Of the total 51,738 MoUs that were signed in the previous seven editions, 34,234 have either been commissioned or are in the process of implementation. That makes it a success of 66.17 per cent."
He, however, did not elaborate on the investment promised and implemented in terms of value.”
Prime Minister Narendra Modi will remain present for the eighth edition of the Vibrant Gujarat Global Summit 2017 in January.
He is expected to inaugurate the summit and a global trade show besides attending a global CEOs' seminar and a Nobel laureates’ seminar. The PM is also expected to start the Bombay Stock Exchange’s IFSC operations from Gandhinagar.
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