The Telegraph
Since 1st March, 1999
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Gujarat bid to lure investors

New Delhi, Sept. 10: The Federation of Indian Chambers of Commerce and Industry (Ficci) is organising Vibrant Gujarat 2003, a global investors’ summit, to be held in Ahmedabad later this month. It is expected to attract investments from a large number of Gujarati non-resident Indians.

“Delegations from China, Britain and Hong Kong are also expected to participate in the summit,” said a Ficci official.

The summit will be inaugurated by deputy Prime Minister L. K. Advani and will be addressed by Gujarat chief minister Narendra Modi. Others participating in the three-day conference include minister of commerce Arun Jaitley and minister of petroleum and natural gas Ram Naik.

The convention will also see meetings between businessmen, decision makers, experts and senior government officials to explore possibilities in the industrial sectors of Gujarat.

In the summit, discussions on seven vital sectors, including oil and natural gas, ports and infrastructure, agro-business, tourism, biotechnology, mines and minerals and education, will take place.

“The thrust of the summit is to invite and draw attention of investors in the state which has immense potential. Ficci will subsequently organise similar events in other states as well,” said Ficci secretary general Amit Mitra.

Another Ficci official said, “Conferences only attempt to create a conducive atmosphere. A state needs to constantly remind both its existing and future investors about its strength.”

It is for the first time after Godhra riots that Ficci is organising such an event. Approximately three weeks before the riots last year, a similar summit called Resurgent Gujarat was held.

Investments made in Gujarat in 2002-03 stood at Rs 1,938 crore. The state ranked first in terms of actual domestic investments, excluding foreign investments. Gujarat is responsible for almost 35 per cent of the country’s exports. Of this, products manufactured in Gujarat account for 20 per cent.

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