The Hindu Business Line : Gujarat to woo global investors

The Gujarat Government-sponsored biennial event "Vibrant Gujarat Global Investors' Summit 2007" will be organised on January 12 and 13 at the Science City near here in a bid to woo international investors and make the State what the Chief Minister, Mr Narendra Modi, calls "the growth engine" of emerging Indian economy.

About 100 investors from a dozen countries are expected to participate in the two-day event. Asked about the actual volume of investments received in Gujarat following the summits in 2003 and 2005, Mr Modi, however, declined to elaborate, saying he expected "good response" from abroad this time.

In the earlier two summits, a total of 302 MoUs, involving investments to the tune of nearly Rs 1,72,000 crore, were signed.

According to official claims, 80 per cent of the total investments committed in these MoUs till now are being converted into real projects. However, no clear picture is available. During the recently held Information Technology Summit, agreements of capital investment amounting to nearly Rs 11,066 crore in 21 projects had been inked, he added.

Amidst this ambiguity, the State Government, late last year, entrusted delegations from the State's business and industry community to sell Gujarat abroad. Three such delegations, representing different sectors, tried to woo foreign investors.

Mr Modi admitted that "businessmen understand businessmen better." Not only this, all 182 Members of Legislative Assembly also toured different States in India with the same motive.

At the same time, he claimed that the State Government was acting merely as a "coordinator and catalytic agent" in organising the summit. Detailing the State's progress in sectors ranging from agriculture to information technology, he said the State offered the most favourable investment climate to global players.

Announcing the summit's programme at a press conference here, Mr Modi said the central aim of next week's summit will be the special economic zones (SEZs), 33 of which have been sanctioned in Gujarat by the Centre so far and which, he said, would remain at the core of economic development of India in the coming decades. These SEZs would also influence global economy.

Replying to a question, he said since most of the SEZs in Gujarat existed along the wastelands on the 1,600-km-long coastline, Gujarat was not facing the problems, unlike other States, in terms of land acquisition and displacement of people. Gujarat was the first State in India to pass an SEZ Act.

In any case, he said officials had been clearly instructed to ensure that no injustice was done to any body in SEZ-related matters.

Seminars

At the two-day summit, sector-wise seminars would be organised on agro and food processing textiles and apparels; chemicals, petrochemicals and pharmaceuticals; engineering, auto and ceramics, tourism and medical tourism; gems and jewellery; SEZ and port-related development; power, oil and gas; biotechnology; information technology; and, urban development.

As in the past, the State Government is clubbing this summit with the cultural heritage of Gujarat.

The actual summit will be preceded by an exhibition-cum-sale of gems and jewellery, inauguration of a multimedia museum on "Eternal Gandhi" (both on January 10) and an exhibition on "Gujarat Discovered" (January 11).

Besides, the State Government will also organise a special cultural program "1857 to Subhash" depicting the development of Gujarat through the Freedom Struggle (January 13).

The event will culminate into an International Kite Festival (January 14).

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