Tag: investments

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-Top News Gujarat India News

Vibrant Gujarat Summit Seals 26.3L Cr Deals

In the 10th edition of the Vibrant Summit, MoUs for 41,299 projects worth a whopping Rs 26.33 lakh crores have been signed, reports Asian Lite News

The much-awaited Vibrant Gujarat Global Summit has come to an end after three days of activities, witnessing various big-ticket investment proposals from various Indian and overseas companies.

The high-value investment proposals included Indian companies such as Adani Group, Reliance Industries, Tata Group, and global corporate DP World, among others.

In the 10th edition of the Vibrant Summit, MoUs for 41,299 projects worth a whopping Rs 26.33 lakh crores have been signed, the organiser said in a post on X.

A large part of the MoUs were in the green energy space, said officials.

In 2022, MoUs for 57,241 projects with investments worth Rs 18.87 lakh crores were signed, but the Vibrant Gujarat Summit 2022 was postponed due to the COVID-19 pandemic.

With this, Gujarat accomplished a landmark by securing MoUs for investments in 2022 and 2024, surpassing Rs 45 lakh crores across 98,540 projects.

“Through MoUs in emerging sectors like Semiconductors, E-Mobility, Green Hydrogen, and Renewable Energy, the Vibrant Gujarat Global Summit 2024, themed ‘Gateway to the Future,’ aims to establish Gujarat as a leading state in realizing Hon’ble Prime Minister @narendramodi’s vision of Viksit Bharat@ 2047,” the official X handle of Vibrant Gujarat wrote.

During these three days, about 3,500 foreign representatives joined the summit, and representatives from 19 states also converged.

The 10th edition of Vibrant Gujarat Global Summit 2024 was inaugurated on Wednesday by Prime Minister Narendra Modi. The theme of this year’s three-day summit is ‘Gateway to the Future’ and includes the participation of 34 partner countries and 16 partner organisations.

The Summit is also being used as a platform by the Ministry of Development of the North-Eastern Region to showcase investment opportunities in the North-Eastern regions.

The Vibrant Gujarat Global Summit was initiated by Narendra Modi in 2003, the then chief minister, to put Gujarat on the world map of trade and industry.

This year, multiple industry captains, including Chairman of ArcelorMittal, Lakshmi Mittal, Toshihiro Suzuki, President of Suzuki Motor Corporation, Japan, Mukesh Ambani of Reliance Group, Sanjay Mehrotra, CEO of Micron Technologies, USA, Gautam Adani, Chairman of Adani Group, Jeffrey Chun, CEO Simmtech, South Korea, N Chandrasekaran, Chairman Tata Sons Limited, Chairman of DP World, Sultan Ahmed bin Sulayem, Shankar Trivedi, Sr VP Nvidia and Nikhil Kamat, Founder and CEO of Zerodha, addressed the gathering and informed about their business plans.

Addressing the summit after formally inaugurating it on Wednesday, the Prime Minister reiterated the pledge to make India ‘viksit’ by 2047, making the next 25 years ‘Amrit Kaal’ of the country.

“It is time for new dreams, new resolutions and continuous accomplishments,” he asserted.

Referring to the 20th anniversary of the Vibrant Gujarat Summit, the Prime Minister remarked that the summit has showcased new ideas and created new gateways for investments and returns.

Throwing light on this year’s theme of ‘Gateway to the future’, the Prime Minister said that the future of the 21st century will be brightened by shared efforts.

During India’s G20 Presidency, the Prime Minister said that a road map for the future has been presented and is being forwarded by the vision of the Vibrant Gujarat Global Summit.

“The priorities and aspirations of India’s 1.4 billion citizens and their belief in human-centric development, coupled with the government’s commitment to inclusivity and equality, are a major aspect of world prosperity and development,” the Prime Minister remarked. Today, the Prime Minister mentioned that India is the 5th largest economy in the world, while it lagged at 11th position a decade ago.

He also underlined that in the next few years, India will go on to become one of the top 3 economies in the world, as predicted by various rating agencies around the world. (ANI)

ALSO READ: Gujarat CM explores collaborations with UAE in Green Tech

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-Top News India News USA

‘This is the moment’: Modi tells US biz to invest in India

The event sent a clear message to the companies, the businesses, the manufacturers, the innovators of both countries, reports Yashwant Raj

In a direct appeal to the US business community, Prime Minister Narendra Modi has said “this is the moment” to invest in India as both the Indian and the US governments have done everything to prepare — “plough” — the ground for them to come, play, and thrive.

The Prime Minister said on Friday that this was the clear message from the technology handshake event at the White House earlier in the day in which he and President Joe Biden met leading CEOs from the US and India, which included Google’s Sundar Pichai, Microsoft’s Satya Nadella, OpenAI’s Sam Alt (of ChatGPT fame), FMC Corporation’s Mark Douglas on the American side, and Reliance’s Mukesh Ambani and Mahindra’s Anand Mahindra.

The event sent a clear message to the companies, the businesses, the manufacturers, the innovators of both countries, and that message is: “This is the moment. This is the moment. The governments of India and America have done the groundwork for you all. You know, like you plough the field, we’ve done that. And whatever else is needed further we will keep doing it for you all. However, it is now your responsibility to wholeheartedly play, wholeheartedly thrive.”

“And the one that plays is the one that thrives,” he added.

Modi was addressing attendees at an event organised at the iconic Kennedy Centre in Washington by the US-India Strategic Partnership Forum, an advocacy group promoting ties between the two countries.

On the stage with Modi were Secretary of State Antony Blinken — their second meeting after the US State Department lunch for the visiting leader — and John Chambers, who is chairman of the USISPF and Chairman emeritus of Cisco.

Modi pressed on with the hard sell, telling business leaders in the audience that they should not let go of this opportunity.

“I assure you that you will find a better environment in India. The ease of doing business is a commitment of our government,” he said to them.

The Prime Minister presented India as a reliable and trusted economic power and player, detailing how it came to the aid of the world during the worst crisis faced by the world in a century — the Covid-19 epidemic.

“When the world needed medicines India enhanced its production and sent medicines to more than 150 countries,” he said, and added, “When the world needed coronavirus vaccines, India increased its production and sent vaccines to more than 100 countries.”

In conclusion, Modi said, “I, once again, invite you all to move forward together in this development journey of India. And I had once said this in my speech from the Red Fort, and I said. That this is the time. And this is the right time.”

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Dubai Goa Lite Blogs

Goa showcases business potential at Dubai Expo

A glimpse from the Gala Dinner hosted by Government of Goa at Expo 2020 Dubai

The state pitched for investment opportunities in Tourism & Hospitality, Pharmaceuticals & Biotechnology, Agro-based and Food Processing Industries., reports Asian Lite News

The Goa Week at India Pavilion, EXPO2020 Dubai concluded on Thursday. Inaugurated on 14th January by J. Ashok Kumar, Secretary to Chief Minister, Sports & Youth Affairs, Tourism, Industries Trade & Commerce, Handicrafts Textile & Coir, Government of Goa and Dr Aman Puri, Consul General of India in Dubai and Deputy Commissioner General of India at EXPO2020, the state has successfully highlighted its business potential across sectors such as Tourism & Hospitality, Pharmaceuticals & Biotechnology, Agro-based and Food Processing Industries.

Dr Puri also presided over other key events of the state.

The delegation, led by J. Ashok Kumar held various business meetings with global investors showcasing the investment-friendly policies and the availability of skilled labour in the state.

Talking about Goa’s participation at EXPO2020 Dubai, J. Ashok Kumar, said, “The state’s participation at the Expo 2020 was a great success. The Goa delegation had the opportunity to visit several other country pavilions as well as meet with key investors of the region. We look forward to building upon the relationships that we were able to establish in this brief time and host interested investors in Goa soon. My special congratulations to team India for their hard work.”

Mr. J Ashok Kumar, Secretary, Industries & Tourism, Government of Goa with Mr. Sanjay Kumar, Secretary – Revenue, IT, Labour & Employment and Ms. Swetika Sachan, CEO, Goa-IPB and Mr. Gavin Dias, General Manager, Goa Tourism Board at the inauguration of Goa Week at India Pavilion, EXPO2020 Dubai

The Goa delegation also met with Indian Business & Professional Council (IBPC) that resulted in a potential for investment collaboration with the state. The meeting was attended by J. Ashok Kumar, Secretary to Chief Minister, Sports & Youth Affairs, Tourism, Industries Trade & Commerce, Handicrafts Textile & Coir, Sanjay Kumar, Secretary – Revenue, Information Technology, Labour & Employment and Smt. Swetika Sachan, Director, Directorate of Industries, Government of Goa, at the India Pavilion Dubai EXPO2020, Dilip Sinha, Secretary-General, IBPC along with other distinguished members of IBPC.

Sanjay Kumar, Secretary – Revenue, Information Technology, Labour & Employment said, “The Expo is a marvellous exhibition of the technologies of not only today but also the future. Through our interactions with other delegates, investors, and innovators, we see the endless opportunities and will strive to implement their suggestions back home in the short term, while planning for the long term.”

Swetika Sachan, CEO, Goa Investment Promotion and Facilitation Board said, “The Dubai Expo 2020 has become a great place for countries to come together and pave the way for innovation and advancement. The state of Goa participated to showcase its business potential in the fields of Tourism, Financial Service, Pharmaceuticals, and Biotechnology to global investors. We actively engaged with the business community of Dubai to strengthen our ties and reassured them of our commitment towards ease of doing business. Personally, I am excited about the investment opportunities that will make a difference in the lives of the people of Goa.”

Besides the focus sectors, the state of Goa also showcased its prowess in the start-up segment. Goa is the first state in India to have two consecutive start-up policies with a supportive ecosystem. It is also one of the most preferred destinations for start-ups across industries. The IT Policy 2017 and Start-up Policy 2021 offer attractive incentive packages to the budding start-ups in the state.

Trivikram Dhol Tasha’s performance at the India Pavilion at Expo 2020 Dubai marking the conclusion of Goa Week.

Goa is the smallest state in the country with a rich heritage, serene atmosphere and well-developed infrastructure. Goa’s economic growth is driven by the strong performance of its industrial sectors such as tourism, fishing, agriculture and pharmaceuticals.

Tourism is the backbone of the state’s economy, with 40% of the population directly or indirectly dependent on it. The state has recently framed a new tourism policy to offer a uniquely Goan experience to visitors by presenting a versatile concoction of historic, natural, ethnic, cultural locations and attractions. Besides Tourism, the state is also expanding its presence in sectors such as Light Engineering and R&D, Aviation and Technology.

READ MORE: Goa: Incentives for investors

READ MORE: Goa invites global investors

ALSO READ: Indian startups impress global investors at Dubai Expo

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-Top News Environment Europe

European firms report investments to address climate change

“As the realities of climate change become more apparent, firms have to start accounting for climate risks,” said EIB Chief Economist Debora Revoltella…reports Asian Lite News.

As Europe shows global leadership in the fight against climate change with the Green Deal and the new “fit for 55” proposals, around 45 per cent of European Union (EU) firms report investments to address climate change.

Nearly half of firms in the EU have invested in energy efficiency, up from 37 per cent in 2019 to 47 per cent in 2020. Although EU firms show commitment, enhancing their awareness of climate change-related risks will be the key to greater climate investment.

These are the key findings of a new European Investment Bank (EIB) report “European firms and climate change 2020/2021: Evidence from the EIB Investment Survey” that was published on Monday.

The new report provides an overview of EU firms’ perceptions of climate risks, their investment to address those risks and the main factors influencing their decisions.

The report builds on the EIB Investment Survey, an EU-wide survey that includes interviews with over 13,500 firms. These report findings are comparable across EU countries and the United States, as well as sectors and firm size.

“The catastrophic rainfalls and terrible loss of life this summer should leave no doubt that climate change is happening. We can no longer afford a wait-and-see attitude,” said EIB Vice-President Ricardo Mourinho Felix.

“Our latest study shows that if we want the transition to a greener economy to succeed, raising awareness of those risks matters: EU firms that understand those risks are more likely to invest in climate action. Regulatory requirements and transparency, as well as setting the right incentives for businesses will be crucial. Firms need to plan today to gain a competitive edge or risk losing ground to more forward-thinking competitors.

“As the EU climate bank, we finance climate projects around the world. We can assure you, becoming green pays off — for the environment but also economically.”

“As the realities of climate change become more apparent, firms have to start accounting for climate risks,” said EIB Chief Economist Debora Revoltella.

“Nearly 60 per cent of EU firms perceive physical risks, while transition risk is less well understood. The majority of firms are unaware of the challenges ahead and how to adapt to regulatory changes that will affect their supply chains, products, or reputation. Enhancing firms’ awareness of these risks will be as important as reducing uncertainty about regulatory changes.

“The ‘fit for 55’ package has opened the way for fruitful discussion among EU countries about a clear regulatory framework, enhanced climate awareness and proactive public and private investments.”

Around 45 per cent of EU firms report investments to address climate change, compared to 32 per cent of firms in the US.

Western and Northern Europe saw the largest share of firms investing in these measures, at 50 per cent. The share in Southern Europe is 38 per cent and in Central and Eastern Europe 32 per cent. At the country level, the differences are even more pronounced: Finnish (62 per cent) and Dutch (58 per cent) firms are at the forefront of climate investments, whereas only 23 per cent of Cypriot, 19 per cent of Irish and 18 per cent of Greek firms make this kind of investment.

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