Prime Minister Narendra Modi lured investors with the promise of progressive policies while inaugurating on Tuesday Jan 10,2017 the eighth edition of the Vibrant Gujarat Global Summit, a biennial business meet he had launched as the state’s chief minister in 2003.
The summit, which has made headlines in the past for the staggering number of memorandums of understanding (MoUs) inked at each edition, now aims to facilitate nearly 22,000 such deals with an investment commitment of around Rs 30 lakh crore at Mahatma Mandir over the next four days.
“For investment, sky is the limit and our policies are very progressive. India is going to emerge as one of the world’s largest construction markets. All this offers unprecedented opportunities to the investment community,” he said, addressing an impressive audience.
The delegates included Russian deputy prime minister Dmitry Olegovich Rogozin, Kenyan president Uhuru Kenyatta and Portuguese prime minister António Costa, besides captains from the industry.
“I assure you that I will be available to hold your hand whenever required,” Modi said, inviting business leaders to invest in India.
“We have liberalised our FDI regime in various sectors and various ways, India is today the most open economy.”
“Delighted to share that we have become the sixth largest manufacturing nation in the world, up from 9th,” the Prime Minister said.
The Prime Minister said Gujarat, the land of Mahatma Gandhi and Sardar Vallabhbhai Patel, represents the business spirit of the country.
Calling ‘democracy’ India’s biggest strength, he said: “India’s strength lies in 3Ds — demography, democracy and demand. Ours is a nation of vibrant youth; the disciplined, dedicated and talented youth of India offers globally unmatched workforce.”
Speaking at the summit, businessman Mukesh Ambani promised that his Reliance Industries will complete investment of Rs 1.25 lakh crore in refinery and petrochemical expansion projects in Gujarat by March, exceeding commitments by Rs 10,000 crore.
He described Prime Minister Modi as “a great transformative leader” who transformed Gujarat and is now transforming India with a series of historic and visionary initiatives.
Tata group patriarch Ratan Tata called himself a Gujarati while addressing the summit and said the state became a hub of car manufacturing in India after his company set up the Nano plant.
“Some years ago I got the fortune and good luck of moving our car factory to Gujarat and soon again with the leadership of Narendra Modi, Gujarat has become one of the hubs of car manufacturing in India,” he said.
Tata Motors had relocated its plant to produce the Nano car from Singur in West Bengal to Sanand in Gujarat in 2008.
Highlights from the summit’s inauguration
• “India alone offers the opportunities that could rival that of an entire continent. It offers today the possibilities of a full century. And we want to do all this is a cleaner, greener, more sustainable way. We are also committed to protect the environment, this is what India has stood for since ages.
I assure you that I will be available to hold your hand whenever required,” Modi says, concluding his address.
• For investment, sky is the limit and our policies are very progressive. India is going to emerge as one of the world’s largest construction markets. All this offers unprecedented opportunities for the investment community.
• We are committed to an India with better opportunities, better purchasing power better income, better quality of life, better living standards. Our development agenda is ambitious
We want to provide a roof over every head and we are aiming for this by 2022. We want to provide jobs to everyone, 800 million youth is less than the age of 35. We want to produce energy that is cleaner, we want to build railways faster, mineral exploration to be greener, urban amenities that is sturdier.
• Delighted to share that we have become the sixth largest manufacturing nation in the world, up from 9th, says Modi. At government-level we have to ensure that our growth process is inclusive and encompasses both rural and urban communities, says Modi.
• ‘Make in India’ has become the biggest brand India has ever had. It is meant for making India the global hub for manufacturing, design and innovation, says Modi. Make in India celebrated second anniversary.
• We are monitoring implementation of hundreds of action points across various sectors aimed at improving regulatory framework. We are moving closer to global best practices. Our confidence has been boosted by the positive impact of our policies and practices.
e-Governance is easy and effective governance, Modi says at the Vibrant Gujarat Summit. “Over the last two-and-a-half years we have worked relentlessly to realise India’s potential. Despite the global slowdown, we have registered excellent growth. Today, India is a bright spot in global economy,” says Modi.
• India is now an emerging R&D hub, we produce the world’s second number of scientists and engineers. Our entertainment industry is making waves worldwide. It is our vision and mission to bring a paradigm shift in our policies and economy, says Modi.
• “We are on the threshold of becoming world’s largest digitised economy. It is happening before you.”
India’s strength lies in 3Ds - Demography, Democracy and Demand. Our is a nation of vibrant youth; the disciplined, dedicated and talented youth of India offers globally unmatched workforce, says Modi.
• Over the last two-and-a-half years,we’ve also evolved a culture of healthy competitions among states, being rated on parameters on good governance, says Modi. “ We have seen that it is possible to deliver quick results in democratic setup as well.”
• Gujarat, the land of Mahatma Gandhi and Sardar Vallabhbhai Patel, also represents the business spirit of India, says Modi as he begins his address after launching a coffee table book and policy documents at the 8th edition of Vibrant Gujarat Summit.
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