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LIBF Expo 2024 for Cross Border Trade & Women Entrepreneurship as India’s Growth Story

Published: January 20, 2024
  • LIBF Expo 2024 attracts participants from 34 diverse sectors from over 30 countries.
  • The Expo focuses on mainstreaming rural women entrepreneurs in India.
  • LIBF Expo 2024 aligns with the vision of ‘Sabka Saath, Sabka Vikas’ and Government’s aim for reaching 7-8% economic expansion by 2025.

Gandhinagar, 19th January 2024: LIBF Expo 2024 rings in the New Year with the grand opening at Helipad Exhibition Centre in Gandhinagar, Gujarat As LIBF Expo 2024 unfolds, it unites global leaders, entrepreneurs, and thought influencers, offering a distinctive platform for networking, collaboration, and innovation showcase. With over 250 exhibitors, an impressive array of influential speakers and over 10,000 visitors, the expo drew professionals and enthusiasts from 34 various sectors, including Banking & Finance, Pharmaceuticals, Real Estate, Agro & Food and many more from over 30 countries.

LIBF Expo was inaugurated by Shri. Balvantsinh Rajput, Cabinet Minister of Industries, Civil Aviation, Rural Development, Labour and Employment, Govt of Gujarat and A.S Kiran Kumar, Former Chairperson of ISRO, along with other esteemed dignitaries includes Shri Jitendra Somani , Member of Legislative Assembly, Wankaner Constituency, Gujarat State; Shri Mihir Kotecha, Member of Legislative Assembly, Mulund Constituency, Maharashtra State; H.E Margaret L Kyogire, Deputy High Commissioner & Acting Head of Mission, Uganda High Commission to India; H.E Mrs. Rosette Mossi Nyamale; Ambassador Embassy of the Democratic Republic of Congo; Neemaben Aacharya, Member of Legislative Assembly, Anjar constituency, Gujarat State.

LIBF EXPO 2024 takes a significant step in fostering social inclusion with its focus on the mainstreaming of rural women entrepreneurs. Drawing inspiration from the extraordinary success stories of various start-ups such as Lijjat Papad, which originated from the investment of Rs. 100 to Rs. 1000 crores today, collectively empowering over 45,000 women. This narrative, embodying women empowerment, and social development, calls on women in rural areas or with limited resources to forge their path through unity and hard work. LIBF Expo 2024 actively champions this cause, dedicating specific pavilions and providing invaluable investment opportunities for start-ups, contributing to a future enriched by the entrepreneurial journey of empowered women.

Shri. Balvantsinh Rajput, Cabinet Minister of Industries, Civil Aviation, Rural Development, Labour and Employment, Govt of Gujarat said “After yet another successful completion of the Vibrant Gujarat Summit, under the stewardship of our Prime Minister, Shri Narendrabhai Modi, many countries have sat up and taken notice of the India growth story. Gujarat has also led the way, in terms of the ‘ease of doing business’, providing a safe and secure environment, under the able leadership of the Chief Minister, Shri Bhupendrabhai Patel. With over 20 years of demonstrated success, Gujarat has laid the right foundation, preparing the map for India’s economy for the next 25 years, till 2047. I would recommend that the Lohana community prepare a 25 year plan, which would be in sync with changing world dynamics in providing opportunities for young people and women.

If you can look at Gujarat today, from the time Shri Narendrabhai Modi was the Chief Minister, a lot has changed. Even the concept of an ‘investment conclave’ like Vibrant Gujarat was a novelty then, and there was no such event in any other part of the country. It took about 20 years and about 9 Vibrant Gujarat events to make Gujarat an almost 33% export-oriented State, with almost 18% of India’s total production coming from Gujarat. In overall area we may be a small State, but in terms of industrial units, we cover almost 11% of the country. Today, Gujarat ranks no. 1 in terms of incubating Start-ups, and also tops the nation in terms of providing employment, and in logistic support. Gujarat’s contribution towards India’s GDP is around 8.4%. We have the workforce of over 135 countries working in the state, with over 42000 expats connected in some way. The icing on the cake with a successful Vibrant Gujarat Summit wherein over 45 Lakh Crores worth of MoUs’ have been signed and we hope to provide employment to over 80 lakh people” he further added.

Speaking on the occasion, Mr. A.S. Kiran Kumar, Former Chairman ISRO, Chairman, Physical Research Laboratory Management Council and Member, Space Commission, Govt of India, said “As the grand opening of LIBF Expo 2024 unfolds, gratitude is extended to the Lohanas for preserving the rich heritage of Raghuvansh and providing a platform that transcends boundaries. Today, space technology is not just a frontier; it’s a thriving realm for innovation. The young entrepreneurs of our nation must actively engage in this space journey, contributing to its trajectory. LIBF Expo paves the way for collaboration, showcasing how diverse sectors, much like our heritage, can converge and fuel India’s ascent in the global space arena.

Furthermore, India’s tech prowess, showcased during the COVID-19 pandemic, not only overcame domestic challenges but also extended support globally, highlighting the transformative potential of technology in both space exploration and addressing global issues, calling for innovative contributions from our youth.”

Dr. Graham Bright, Global Head of Compliance & Operations, Euro Exim Bank said “Navigating the complex world of international trade isn’t just about moving goods; it’s about mitigating risk and ensuring every step, from quality control to customs regulations, is seamless. At Euro Exim Bank, we’re not just investment bankers, we’re trade specialists. We understand the intricacies of cross-border transactions, from the logistics of shipping 100,000 tons of oil to the intricacies of foreign exchange liquidity. Our expertise empowers businesses, particularly those in India and Africa, to bridge the USD2.5 trillion trade gap & compete on a global stage. Currently the potential for transactions between the African Continent and India could be anywhere in the range of USD 100,000 to USD 5 Million, with the overall trade being valued at around USD 100 Million to start with.”

Speaking on the occasion, Mr. Satish Vithalani, President, Lohana Community said” LIBF Expo 2024 stands as a testament to the vision of inclusive development, echoing the government’s ideology of ‘Sabka Saath Sabka Vikas.’ The expo is a comprehensive platform, catering not only to the giants in various industries but also embracing small startups, empowering Mahila Udyog, and connecting with the innovative youth. The remarkable expansion in retail, hospitality, and various sectors seamlessly aligns with LIBF Expo 2024’s commitment to actively collaborate with businesses providing invaluable products and services. This collaboration aims to propel expansion strategies and elevate market presence.

This convergence of vision and opportunity underscores LIBF’s commitment to driving impactful and inclusive growth across diverse segments, he further added.”

Among the prominent exhibitors were industry giants like Euro Exim Bank, Vinmart, Ravin Group, Dharmadev Infrastructure Ltd., Iscon Group, and Madhvani Group actively participated, contributing to the expo’s success.

As India strides towards securing its place as the world’s third-largest economy, the Prime Minister’s vision of ‘Amrit Kal’ encapsulates the nation’s trajectory of sustained growth. LIBF Expo 2024 unfolds as a catalyst for collaboration and innovation, aligning with the economic forecast that anticipates India’s GDP reaching $7.3 trillion by 2030 and an ambitious overall growth of 7-8% throughout 2024 and 2025. Despite challenges like skill development, addressing infrastructure gaps, rural development, and global uncertainties, India is poised to surmount these obstacles, propelling towards economic greatness. This trajectory will solidify India’s standing in global markets, attract increased foreign investments, and generate employment opportunities for millions.

This economic perspective harmoniously aligns with LIBF EXPO 2024, extending an invitation to participants, exhibitors, and visitors to join this global narrative of collaboration, empowerment, and growth.

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