Vibrant Gujarat, the annual global investor summit which takes place in Gandhinagar, is in its eighth edition this year. The prime minister opened the summit by declaring India as the engine of global growth. He went on to point that World Bank, IMF and other institutions have projected better growth in the coming days.

The participating countries have gone from eight in 2015 to 12 this year. According to a Times of India report, investments to the tune of Rs 30 lakh crore are expected to be signed. Gautam Adani, chairman of the Adani group, is expected to announce a Rs 49,000 crore investment over the next five years.

Reliance Industries chairman Mukesh Ambani has planned to connect all schools, colleges, traders and hospitals in Gujarat with 4G internet by Diwali 2017.

“We are bringing a shift from relationship-based governance to system-based governance, from discretionary administration to policy-based administration, from random interference to technological interference, from favouritism to level-playing field, from informal economy to formal economy,” said the prime minister.

Stressing on the importance of digital technology in the new shift, the prime minister said that India was on the path to become the most digitised economy in the world. He said that e-governance was the effective way to govern and focussed on the clean governance.

The prime minister also spoke about the immense opportunities India offers for investors in the fields of hardware and software skills, soft skills, defence systems, medicine and tourism among others.

Speaking about the ‘Make in India’ program, the prime minister called it a tremendous success, making India the sixth largest manufacturing hub in the world. Making a pitch for the program, Modi said that India offers opportunities that could rival those of an entire continent. He also stressed on the need to go ahead with this in a cleaner and more sustainable way.

Modi also stressed on the ‘unmatched workforce’ that India offered thanks to around 800 mn people of the population being under 35.

The Vibrant Gujarat summit will run till 13 January.

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