Gujarat Chief Minister Bhupendra Patel recently met with Prime Minister Narendra Modi in New Delhi, calling their discussion a “joyful occasion.” During the meeting, Patel praised Modi’s leadership for making Gujarat a top destination for investment through the popular Vibrant Gujarat Global Summit.
He shared that Gujarat plans to organize Vibrant Gujarat Regional Conferences across different parts of the state. These new events aim to attract more investors and promote balanced industrial growth. Patel also thanked the Prime Minister on behalf of the people of Gujarat for the recent reduction in GST rates, which will help millions of households save money on daily expenses and improve their quality of life.
The Vibrant Gujarat Global Summit, launched in 2003 by Narendra Modi when he was Chief Minister, has become one of India’s leading investment platforms. The event attracts world leaders, government officials, and business giants from all around the globe. Over the years, more than 135 countries have participated, signing thousands of agreements across sectors like energy, infrastructure, IT, chemicals, and manufacturing.
In 2019, the summit saw over 42,000 delegates, including heads of state and top CEOs, with investment intentions worth a whopping Rs 20 lakh crore. The summit has helped turn Gujarat into India’s “Gateway to the World,” making it one of the most attractive states for business and investment today.
The new regional conferences are expected to reach out to more investors and ensure that industrial growth is spread evenly across Gujarat. This effort aligns with Gujarat’s goal of strengthening its position as a key investment hub in India.
Meanwhile, the government has approved a big change in GST rates. The plan simplifies GST into two main slabs — 5% and 18%. A high rate of 40% will stay only for a few items like luxury cars, tobacco, and cigarettes. Additionally, from September 22, restaurant meals will all be taxed at a flat 5%, replacing the previous 12-18% range that varied between different types of restaurants.
This move is expected to make things simpler for consumers and boost the hospitality industry. Overall, the recent meetings and reforms highlight Gujarat’s efforts to attract more investments, support economic growth, and benefit its people.
