Speaking on the first day of Vibrant Gujarat Global Summit 2024 in Gandhinagar on Wednesday (January 10, 2024), Prime Minister Narendra Modi said that the next 25 years are the years of Amrit Kaal, and India aims to become a developed nation by the centenary year (2047) of the country's independence.

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"In the recent past, India completed 75 years of independence. Now, India is working on its goal for the next 25 years. We have the goal of making it a developed country by the time it celebrates 100 years of independence. Therefore, these 25 years' duration is India's Amrit Kaal."

According to PM Modi, the world views India as a strong pillar of stability, a reliable friend, and an engine of prosperity in the global economy. He also stated that India has emerged as a new ray of hope among numerous uncertainties being faced internationally. He also said that India is progressing as a "Vishwa Mitra" (friend of the world) in the quickly evolving global order.

"In the rapidly changing world order, India is going ahead as a Vishwa Mitra. India has given hope to the world that we can decide on common goals and achieve them. India's commitment to world welfare, its dedication, efforts, and hard work are making today's world more secure and prosperous," he said. "Today, the world looks at India as an important pillar of stability, a friend who can be trusted, a partner who believes in people-centric development, a voice that believes in global good, a voice of Global South, an engine of growth in the global economy, a technology hub for finding solutions, a powerhouse of talented youth, and a democracy that delivers," he added.

Additionally, PM Modi stated that India has clear priorities with top concerns including green hydrogen, renewable energy, semiconductors, sustainable industry, infrastructure and manufacturing, new age skills, future technology, AI, and an ecosystem surrounding all these.

Speaking about the participation of UAE President Sheikh Mohammed bin Zayed at the summit, Modi said, "The participation of UAE President Sheikh Mohammed bin Zayed in this summit is a matter of great joy for us. His presence as the chief guest at Vibrant Gujarat Summit is a symbol of the ever-strengthening relations between India and the UAE."

The creation of food parks, collaboration in renewable energy, and investment in the health sector are all covered by Memorandums of Understanding between the two nations. He said that transworld enterprises would start leasing ships and aeroplanes and that the UAE's sovereign welfare would start operations in GIFT City.

He also mentioned that India is continuously strengthening its partnership with the I2U2 Group (comprising India, Israel, the United Arab Emirates, and the United States) and other multilateral organisations.

He said that the UAE has played an important role in the development of India, and the country's relations with African nations have strengthened during his regime as the Prime Minister.

PM Modi said that along with strengthening India's banking sector through recapitalisation and IT use, the government has also eliminated over 40,000 compliances through ease of doing business, GST, and global supply chain diversion.

PM Modi also appreciated the new revolution of digital inclusion, saying, "In 10 years, cheaper phones and data have brought about a new revolution of digital inclusion. Expansion of optical fibre to every village and expansion of 5G is changing the life of a common Indian. We are the world's third-biggest start-up ecosystem."

He claimed that citizens in India are becoming more empowered and living with greater ease as a result of the changes taking place. "In the five years of our government, more than 13.5 crore people have come out of poverty, and the average income of people has increased along with the participation of the female workforce, which is a very good signal for India's future," he said.

Additionally, the summit saw automaker Maruti Suzuki promise to invest 350 billion rupees to construct a new manufacturing line at an already-existing factory and a second auto plant in the state of Gujarat.

Tata Sons Chairman Natarajan Chandrasekaran stated during the summit that the company is also close to revealing plans to develop a new, massive semiconductor fabrication factory in Gujarat, with construction set to begin this year. In the upcoming months, Tata plans to start building a 20 gigawatt battery storage plant in Gujarat, he continued. At the event, businesses from Singapore and the Netherlands have also committed to spending over USD 7 billion.

The 10th edition of the Vibrant Gujarat Global Summit, which was first organised in 2003 under the chief ministership of Modi, has participants from more than 100 nations.