Mega response to the three-day Vibrant Goa 2019 summit that ended on October 19 is left Goan industry feeling delighted, finds out Shoma Patnaik
With nearly 10,000 business and non-business visitors, about 3,500 more visitors than what was expected, the three-day Vibrant Goa Summit held over October 17-19 was quite the jumbo event it was building up to be.
It attracted about 6500 business delegates, of which about 530 delegates were from overseas. The remaining 3500 visitors were locals, both business and non-businessmen who participated robustly in the state’s first Vibrant trade show. Post the resounding response, the organizers are gearing up for the next Vibrant summit in 2021 which they promise will be bigger and better.
The mega event had several hiccups in management. The venue had no air conditioning and left delegates drenched in the heat. The mikes failed several times and the arrangements lacked order. The rains came in unexpectedly and threatened to wash out the show.
But looking at the super response, Goan businessmen are of the opinion that they badly needed a Vibrant summit to put the state on par with rivals and be acknowledged as an emerging industrial destination.
Unlike other states holding a Vibrant event where there is an official announcement of the deals cracked and the prospective investment proposals, in Goa there is no government statement so far on the industrial projects garnered from the summit. Further most of the visiting delegations were seen more interested in inviting investors to their respective countries rather than investing in Goa.
However as per the organizing team, the global expo resulted in business enquiries worth Rs 1,150 crore to local unit owners many of who are slated to become first time exporters.
Jagat Shah, mentor, Vibrant Goa Foundation claims that, the 19 Memorandums of Understanding (MOUs) signed during the three-day event is expected to generate investment of over RS 450 crore to the state.
MOUs were signed in different sectors such as IT, renewable energy, real estate, food processing, biotechnology, construction and pharmaceuticals. Raj Kumar Kamat, president, organizing committee, Vibrant Goa, believes that the summit is been a success. “There was the electricity issues on the first day but delegates were patient enough. They brushed aside my apologies,” he says.
Kamat says that the Vibrant summit was held to achieve several results. “There was lack of positive sentiment towards industry and the state has a strong positioning of tourism. We sought to change these through the Vibrant summit,” he says. According to Kamat, the summit also led to number of business enquiries to small unit owners. It showcased Goa as a serious destination for industry and projected it as an industrial state.