Economy Jan 11, 2013
The sixth edition of the multi billion dollar investment summit, Vibrant Gujarat 2013, began at Gujarat's state capital Gandhinagar today. The biennial summit that brought in excess of Rs 20 lakh crore investments in 2011, amid economic blues, would yet again attempt to attract huge investment proposals over the next two days. This time about 14000 MoUs are likely to be signed.
At the summit, apart from the Chief Minister of Gujarat Narendra Modi, a number of who's who of India Inc are in attendance. Ratan Tata, Mukesh Ambani, Anand Mahindra, Adi Godrej, Chanda Kochar are just a few of them.
During his address, Adi Godrej, chairman of the Godrej group, said Gujarat is heading in the right direction if India is to emulate China'a growth story. Mahindra Group chairman Anand Mahindra agreed, saying, "In future we will talk not just of China model in India, but Gujarat model in China." Mahindra also added that as Gujaratis "think big, they are free from the fear of failure".
Calling Reliance a 'Gujarati company', Reliance Industries chairman Mukesh Ambani said that he planned to invest Rs 100000 crore in Gujarat. Anil Ambani was even more effusive in his praise for Narendra Modi and called him a "leader of leaders, king of kings." He said, "Narendrabhai Modi dreams with his eyes open, and has an open heart and mind." He also said "Gandhi, Patel, Dhuribhai, and Modi are the key Gujarat heroes.
But it's not just the Indian corporates who think Gujarat has set a benchmark.
Ron Somers, President of of the US-India Joint Business Council said that the success of Gujarat was because of predictability and stability. "Modi has set a new benchmark for progress all over, not only India."
Patrick Brown, a Member of Parliament in Canada, said that 30 percent of Indians in Canada are in fact, Gujaratis and they have led to the development of the country.
Amitabh Kant, Ceo, DMIC (Delhi-Mumbai Industrial Corridor) said that Gujarat has shown most energy in implementing DMIC. "Gujarat is creating new cities to benefit from DMIC," he said. Japan Envoy Takeshi Yagi added that India is the key export base for Japan firms; and Gujarat is the key to DMIC infrastructural investments.
For live updates from the event, follow Firspost editor R Jagannathanon Twitter
More From Firstbiz Staff.