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At the inauguration of Vibrant Gujarat Global Investors' Summit (VGGIS) 2009, India Inc was all praise for Chief Minister Narendra Modi and Gujarat. Industry majors like Tata, Birla, L&T, HCC and others pledged 444 memoranda of understanding (MoU) worth Rs 7,48,970 crore.
Ratan Tata, chairman, Tata group said, "We have recently shifted our prestigious Nano car plant to Gujarat. The company will invest Rs 21,000 crore more in the state. Besides, we will also set up a geo-thermal power plant."
Most of the MoUs, in terms of value, were signed in the power sector and SEZs. Dr AK Balyan, Director HR, ONGC, pledged Rs 30,000 crore investments in Gujarat, of which Rs 17,500 crore would be for development of the Dahej SEZ and to set up wind power plant.
"We have pledged Rs 87,000 crore in the next 10 years to develop 10,000 MW thermal power plant, 2 ports and one international standard SEZ, in association with Salim Group," said Prasoon Mukherjee, Chairman, Universal Success Enterprise Ltd.
AM Naik, CMD, Larsen & Toubro, pledged Rs 25,000 crore in heavy machinery and manufacturing plants.
There was also plenty of praise for Chief Minister Narendra Modi and Gujarat. Some of the sobriquets that Modi earned on day one of the summit were 'man of steel', 'lion of Gujarat', 'man with firm determination' and so on.
Industry captains on Modi and Gujarat
KV Kamath, former chairman, ICICI: "Growth is not an accident. It is made to happen. The chief minister has made it happen."
Mukesh Ambani: "In Modi we have a leader with great vision. He has amazing clarity and a determination to succeed. This quality will help Gujarat have the place of pride not only in India but also the world."
Ratan Tata: "In 2007, I had said if you are not in Gujarat you are stupid. I am very proud that I followed my own advice. The state's ability to execute quickly is commendable."
N Vittal, former chief vigilance commissioner: "Gujarat has the resonance to respond to the challenges."
Some more announcements
Hindustan Construction Company Ltd: Rs 40,000 crore in tourism and hospitality, water management and water infrastructure
State Bank of India: Rs 30,000 crore private equity fund for SMEs and setting up 45 branches in the state
Adani group: Rs.27,000 crore, to develop port and SEZs, power plant, power transmission network and education.
Birla: Rs 20,000 crore for fibre and telephony in the next three years
Cellular Operators Association of India: Rs 20,000 crore to be invested by the cellular industry as a whole
Suzlon: Rs 9,000 crore hi-tech SEZ for solar power
Sterling Biotech: Rs 6,000 crore in SEZ, power, university and an airport
Welspun:Rs 4,500 crore for expansion of the current facilities
* Videocon: Rs 4,000 crore for thermal power plant
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i m really very thanks to u bcz i m belongs to gujarat, i also read ur the indian express mgz it had been useful for me.
Thats wonderful to see someone in india making news in buisiness during this horrible recession . Where every other man gets into the hidings ,, this guy MODI shows thats he is worth a MOTHI.He is a pearl oyster , waiting for a drop of water to convert it into A PEARL.May the countrymen learn from MODI.Its high time that he was criticised for one thing , as the critics do not have anything else to criticise him for the 6th succeesive year.That shows his flawless work. He should be made to take up a talk with the B-School Students. By the way , he has the mettle and he is worth for his position. I pity for US for not taking lesson from him, and publicising him as a traitor. If you are a leader, you need to be a controller. May Modi broadens his vision and spreads them to the whole country.Thank You.
Great Mr Modi U are only the CM that no body can inmagine your hidden strenth