With India in the focus of the 7th Vibrant Gujarat Global Investors’ Summit (VGGIS) 2015, the Gujarat government’s brochures praised the former Congress-led UPA government’s economic performance, its policies and decisions — the very issues that were the BJP’s target of criticism during the Lok Sabha electoral battle.
This is for the first time that the summit, which has so far marketed Gujarat as an investor-friendly destination, is now attracting investments for the entire country from foreign shores.
To be inaugurated by Prime Minister Narendra Modi, who launched this biennial summit in 2003, the Gujarat government brochures, letters and website will tell you how the Indian economy stood out on the world map in the past five years. So the India growth story unfolds in showing off how India became an FDI capital in the world in recent years and how its national health and sustainable development policies have fueled growth in sectors in particular and and to the national growth in general.
A thick glossy brochure, designed to attract partner countries for VGGIS, bears testimonials on the buoyant Indian economy from world leaders and technocrats, including Microsoft Chairman Bill Gates to Airbus CEO Tom Enders.
The brochure quotes UNCTAD’s world investment prospects survey 2012-2014, ranking India as the 3rd most attractive destination for foreign direct investment (FDI).
A pie-chart, based on data gathered from the International Monetary Fund and RBI, shows that between April 2000 and February 2014, the total FDI inflow into India was $321.80 billion. It also contains a chart, showing India as the world’s 16th largest exporter and 8th largest importer in financial years from 2007 to 2013.
As per the chart, import and export grew two folds during this period, especially in 2010- 2013.
Efforts are on to get the world’s top business leaders at the summit, which in its earlier editions had rolled out the red carpet for Indian industry captains.