Modi: Praises galore

Ahmedabad, Jan. 12: A total of 104 MoUs with an investment of Rs 2,51,967 crore were signed at the 3rd Global Investors’ Summit, which saw chief minister Narendra Modi and industrialists like Mukesh Ambani, Ratan Tata and others making a strong pitch for a ‘vibrant Gujarat’.

The event, which is a biennial feature, saw the western state attracting investments from domestic industries alone, amid suggestions that foreign capital would flow in once the SEZ and port infrastructure started taking shape.

Inaugurating the summit, Modi assured investors of a “platform from where they can reach the heights of success”.

He also favoured the special economic zone (SEZ) route to development saying it would only help India to become an economic superpower in the coming years.

“The focus should be on SEZs because we cannot win the war unless there is level-playing field globally. We have missed the bus in the 20th century in the wake of the industrial revolution and if we now lag behind, we will also miss it in the 21st century,” he said.

In the two previous such summits, 302 investment proposals worth $38.2 billion were received. Of these, 88 per cent have either been implemented or are under implementation, the chief minister said.

Balaji Sadasivan, senior minister of state, ministry of foreign affairs, Singapore, said some of the Singapore-based companies intended to set up power projects in Gujarat, which is a favoured destination for many companies willing to invest in India.

While announcing a proposal to set up an ultra mega power project (4,000 megawatts) in the state, Tata group chairman Ratan Tata said, “The Tatas are enchanted by Modi’s leadership and will invest more in IT and tourism.”

Announcing an investment totalling over Rs 67,550 crore that will create two lakh jobs in the state, Reliance Industries chairman Mukesh Ambani said he planned to set up a world-class private university in Gujarat in the near future.

Shashi Ruia of the Essar group announced an investment of Rs 10,000 crore, Gautam Adani of Rs 25,000 crore and Kumarmangalam Birla of Rs 3,700 crore.

The industrialists lauded “Modi’s visionary and dynamic leadership”.

Modi also revealed his dream of turning the state into ‘golden Gujarat’ by 2010 coinciding with the golden jubilee of its formation.