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5th Vibrant Gujarat Summit kicks off

By FnF Desk | PUBLISHED: 12, Jan 2011, 12:02 pm IST | UPDATED: 12, Jan 2011, 12:05 pm IST

5th Vibrant Gujarat Summit kicks off Gandhinagar: The 'Vibrant Gujarat Summit 2011', which is aimed at attracting investments to the State, kickedoff here today, with participation of as many as 80 countries.

Nearly 20,000 people, including 700 foreign delegates comprising corporate honchos, policy makers, business and political delegations, are taking part in the two-day event.

Inaugurating the summit, Gujarat Chief Minister Narendra Modi said the summit serves as an ideal platform to discuss and deliberate business opportunities in the new age world.

Mr Modi said the event, held biennially since 2003, has been a major success. It has attracted investment proposals of over 370 billion dollars till now.

It is expected that many state governments would sign memoranda of understandings (MoUs) with global firms this time, as the previous four events were meant to attract investment for Gujarat only.

''With Vibrant Gujarat 2011, we want investment to go to every Indian state,'' Mr Modi had said.

Japan and Canada are partner countries for the fifth edition of business summit which is organised by the State government.

This time, delegates from Canada comprises the biggest single group of more than 100 people at the event, while Japan is bringing a large delegation of around 70 people.

Among those, participating in the mega event, are delegations fromthe United States, Australia, the United Kingdom, South Africa, Singapore and some European countries.

It is expected that around 6,000 MoUs will be signed across  sectors during the investors summit.

In last summit in 2009, Gujarat had received investment commitments of up to 240 billion dollars and 47-odd countries participated in it.