Guj blooms in 'Vibrant Gujarat Investment Summit'

Gandhinagar, Jan 12: This was just the sort of high Gujarat Chief Minister Narendra Modi was looking for. The investors meet Vibrant Gujarat Summit (VGS) 2011, got off to a flying start today on Jan 12 at the Mahatma Mandir with companies putting in investments to the tune of crores taking the development of the state up by leaps and bounds.

All the bigwigs in the corporate world will rub shoulders to invest in the success story called Gujarat. From Ratan Tata, Anil and Mukesh Ambani, Tata Sons Director JJ Irani, Essar Global's Prashant Ruia, L&T's AM Naik, Kumar Mangalam Birla of the Birla group, S Ramadorai of TCS, Gautam Adani of the Adani Group, Kishore Biyani of Future Group and OP Bhatt of the State Bank of India (SBI) will all descend to the state to invest in the fast-growing economy of Gujarat.

Apart from local industry people there are foreign representatives too who want to set up business here in Gujarat. Canadian High Commissioner Stewart G Beck said, "More than 85 Canadian delegates (from the private sector) representing 70 companies are taking part in VGS."

The various deals expected to sign during the summit will be a major impetus to the development of the state. The Associated Chambers of Commerce and Industry of India (Assocham) will sign five MOUs to liase with industry and academia for various skill development programmes. The Essar group is expected to sign Rs 30,000 crore worth deals to develop various sectors including power and refinery.

The Adani group set the ball rolling further with the announcement, "On the occasion of VGS we announce an investment of more than Rs 80,000 crore in port, power generation and infrastructure in Gujarat."

The L&T has expressed an interest to establish a mono-rail project in Gujarat in a cost of Rs 5000 crore.

The inaugural session was a show-of strength on what the state has to offer potential investors. The summit will be attended by participants from 30 MNCs and 16 countries. Gujarat is all set to be the next big thing in terms of infrastructure, industry and commerce and Modi is taking all steps to ensure Brand Gujarat is highlighted to the optimum.

OneIndia News