Date:22/10/2008 URL: http://www.thehindu.com/2008/10/22/stories/2008102256141700.htm

Business

Gujarat’s consistent record in attracting investment

Corporate Reporter

Focus areas include engineering and auto, mineral based industries, textiles and apparel.

CHENNAI: Gujarat has consistently exhibited higher growth rates than the national growth average and steadily clocked an average growth rate of more than 10 per cent in the last five years.

Speaking at a business meet organised by the Industries Department of the Government of Gujarat, in association with CII, Saurabh Patel, Minister of State for Industry, Mines, Minerals, Planning, Finance, Energy & Petrochemicals, Gujarat, said the state was ranked number one with an investment of $176.8 billion in 86 projects for 23 per cent of total investment in India.

The minister reiterated his government’s commitment to the development of the state with a focussed and intensive growth plan to boost the socio economic index in the years to come.

Earlier in a presentation Gauri Kumar, Principal Secretary (Industries), Guajrat, identified some focus sectors which included engineering and auto, mineral based industries, textiles and apparel, ports, chemicals and petrochemicals, IT, oil and gas, pharmaceuticals and food and agri related businesses.

Manikam Ramaswami, CII Chairman (Tamil Nadu State Council) said the labour harmony, infrastructure development, social reforms and transparent policies contributed to the growth of Gujarat.

The entire business community was looking forward to the fourth edition of the ‘Vibrant Gujarat Global Investors’ Summit 2009’ to be held on January 12 and 13, 2009, in Ahmedabad following the resounding success of the previous three global investors meet organised by the State, he added.