Narendra Modi invites entrepreneurs to invest in Gujarat

Chennai, Nov 14 (ANI): Gujarat Chief Minister Narendra Modi has urged leading industrialists to invest in his state and participate in the upcoming Vibrant Gujarat Summit, to be held in Gandhinagar on January 12-13.

Modi said Gujarat had a business friendly environment. A stable government promoting policies and mechanisms of confidence building."

"We provide hassle-free environment for business which start right from effective handholding and setting up of projects. Transactions cost are low, labour problem is almost zero and power cuts are nil. That is the reason why many national and multinational companies have made Gujarat their base," he said.

In 2008 Gujarat captured the entrepreneurs' attention when Tata Motors decided to shift its plant to manufacture Nano, the world's cheapest car, from West Bengal to Gujarat.

Gujarat, one of India's most industrialized states, is the hub of petrochemicals industry, accounting for 30 percent of petrochemicals and half of chemicals and pharmaceuticals business in the country.

With the longest coastline of 1,600 kms, Gujarat accounts for almost 21 percent share in the export basket of India. It ranks on top in marine production, fisheries and ports, besides textiles manufacturing.

The state produces India's 90 percent soda ash, 70 percent salt and 20 percent caustic soda. (ANI)