Vibrant Gujarat 2015: Reliance to invest Rs 1 Lakh Cr, Birla to invest Rs 20k Cr in Gujarat

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Gandhinagar, Jan 12: Prime Minister Nerendra Modi, who appeared as the World CEO during his speech at the Vibrant Gujarat Summit 2015, seems to have influenced business tycoons from across India and overseas as the state will have huge investments towards development programmes and projects.

The business giants from India and abroad announced huge investments and job creation plans at the two-day Vibrant Gujarat Summit, which kicked off yesterday morning in presence of Modi and world leaders of more than 100 countries.

While Reliance Industries chief Mukesh Ambani announced to invest Rs 1 Lakh crore in 12-18 months, Kumar Mangalam Birla of Aditya Birla Group would invest 20,000 crore in Gujarat.

Among overseas companies, Australian mining giant Rio Tinto's CEO Sam Walsh said the group would add 30,000 jobs in diamond cutting industry in Gujarat, adding that Australia is looking forward to the state as a promising business destination.

Vibrant Gujarat Summit (VGS) is a biennial global business summit, being held since 2003, when Modi was Chief Minister of the state, and has always seen huge investment commitments running into billions of dollars being announced by business leaders from India and abroad.

Speaking at the seventh edition of VGS, Modi invited the business tycoons and world leaders to invest and take forward the "Make in India" concept for sustainable and inclusive growth, expressing his concern over the fluctuations in the global economy.

Addressing like a World CEO to the hundreds of world leaders at the Summit, Modi asked why India? In his reply he said, "India offers you 3Ds - democracy, demography and demand and it will not be found in any other country".

Modi said various countries are coming forward to work with us and India also wants to work with global leadership on issues ranging from poverty to ecology.

On the first day of the VGS 2015, various leaders and experts from across the world also called for greater reforms in the country.

World Bank President Jim Yong Kim, who was also present, said tax and subsidy reforms are essential for inclusive growth in India.

US-India Business Council President and Mastercard CEO Ajaypal Singh Banga said American investors want to be in India and he is here to bridge the gap between what can be done and what they are capable of doing.

"The world is awakening to the promise of a resurgent India," he added.

Japanese auto giant Suzuki Corp's chairman Osamu Suzuki said Gujarat is superior in terms of infrastructure and administration, adding that he sees "India becoming consolidated into one economic identity under the able leadership of Prime Minister Narendra Modi".

Gujarat Chief Minister Anandiben Patel said the state has become a global business hub and everyone would benefit from the three-day summit.

Among Indian business leaders, Mukesh Ambani invited the companies from across the world to invest in the state, while Birla said, "We have a personal bias for Gujarat and our ambitions are woven with the state."

Singaporean Minister S Iswaran said "Singapore companies have strong commercial interests in Gujarat", while British Trade and Development Minister Lord Livingston said they will open a new deputy High Commission in Gujarat in a few weeks.

Netherlands' Foreign Trade Minister Simon Smits said India should focus not only on "Make on India", but also on "Research and Design In India".

UN Secretary General Ban Ki Moon lauded Indian government's efforts in using more renewable energy, while US Secretary of State John Kerry said he is "highly inspired by Prime Minister Narendra Modi's slogan of "Sabka Saath, Sabka Vikas".

Macedonia Prime Minister Nikola Gruevski expressed interest for collaboration and mutual economic empowerment for the countries.

With PTI input

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