The Hindu : Front Page : Gujarat gets Rs. 2.5 lakh crore in investments

Online edition of India's National Newspaper
Sunday, Jan 14, 2007
ePaper

Front Page

Front Page

Gujarat gets Rs. 2.5 lakh crore in investments

Sandeep Joshi

These are likely to generate over 6.5 lakh jobs in two to three years

FUELLING GROWTH: Ratan Tata and Mukesh Ambani light the inaugural lamp as Gujarat Chief Minister Narendra Modi looks on during the `Vibrant Gujarat — Global Investors Summit 2007' in Ahmedabad on Saturday. — PHOTO: PTI

AHMEDABAD: Gujarat Chief Minister Narendra Modi on Friday succeeded in attracting investments worth over Rs.2.5 lakh crore at the `Vibrant Gujarat — Global Investors Meet,' where top industry and business leaders praised his role in creating a perfect business environment in the State. The investments included Rs.1.43 lakh crore for 26 Special Economic Zones projects.

A total of 104 Memorandums of Understanding (MoUs) were signed on the inaugural day of the two-day summit, involving leading business houses such as Reliance Industries Limited (RIL), Aditya Birla Group, Tata Group, Essar Group, Torrent Group, Adani Group, Zydus Cadila and Wockhardt.

While 11 MoUs worth Rs.55,139 crore were signed in the power sector, 10 MoUs were inked for oil and natural gas projects targeting investments of over Rs.19,488 crore. Similarly, 26 MoUs worth Rs.14,416 crore were signed in the chemical sector and another Rs.10,474 crore were committed towards the ports development. All these investments are likely to generate over 6.5-lakh jobs in the next two to three years in Gujarat.

Welcoming delegates, including representatives of 47 foreign organisations and over 100 global investors, Mr. Modi said his Government was committed to facilitating the setting up of industries. "Gujarat is going to be the main engine for the nation to achieve double-digit growth. We are showing the path to investment to the nation."

Mr. Modi said SEZs have become major driving force for economic growth in fast developing nations including China. "We also need to emulate the same model if we are to compete in the global business arena. We need to provide level playing field to our business community to fuel growth," he said.

RIL Chairman and Managing Director Mukesh Ambani announced that his group would develop a petrochemical SEZ and ports at Jamnagar, besides setting up a world-class varsity after his father. Tata Group's head Ratan Tata said his group would set up power plants in the State. Kumarmangalam Birla of the Aditya Birla Group announced expansion plans across various sectors besides one to open a textile research centre, while Essar Group chairman Shashi Ruia said he would open an academy to train experts in various sectors.

Printer friendly page
Send this article to Friends by E-Mail

Front Page