Finance Minister Arun Jaitley today said the Vibrant Gujarat Global Investors Summit has become the country's "principle economic summit" and welcomed other states organising similar events.

"The more the states organise it, the more their idiom and their attitude in support of investment change.... it's a welcome phenomenon," he told reporters on the sidelines of the summit here.

The FM said the recent trend, wherein states like Madhya Pradesh and West Bengal have held such summits while Maharashtra is also mulling one such show, is very heartening and he is glad that such aggressive activities are being undertaken.

The Uttar Pradesh government has also adopted an aggressive posture in attracting investors, with a strong media campaign wooing investors.

"I think this has become the principle economic summit as far as India is concerned. Now I think this is where economic activity is happening," Jaitley said. Earlier in the day, Prime Minister Narendra Modi also lauded the efforts by states and promised all help from the Centre in the efforts.