The Hindu Business Line : Gujarat targets over 11% growth

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Chennai, Jan. 28 "For the development of the country, development of the State," that is what Gujarat is looking at as it targets a higher-than-11-per cent growth rate, according to its Chief Minister, Mr Narendra Modi.

The Union Planning Commission is targeting a growth rate of 9.2 per cent for the next five years for the country. To achieve that Gujarat needs to grow at 11.2 per cent, he said.

Gujarat needs to generate `unprecedented economic activity... in agriculture, in service sector, in manufacturing, infrastructure, human resources... ' to achieve its target. It needs to push hard in every walk - "we are ready for that," Mr Modi said, addressing a press meet organised by the Gujarat Chamber of Commerce and Industry.

Create ground realities

State Governments "cannot convince investors with slogans and pronouncements but need to create ground realities," he said.

They need to create infrastructure with global benchmarks, put in place rules and regulations that create a level playing field for global players and provide a clear document in `black and white' to support the investors. This would instil confidence in the State, Mr Modi said.

Gujarat is creating such an opportunity. "We are a policy-driven State," he said.

That is the reason it has attracted over Rs 4,61,835 crore in investments, which represents over 1.3 million jobs to benefit Gujarat's young generation, he said.

The State has in the last five years organised the `Vibrant Gujarat' biennial summit thrice and attracted over $140 billion in investment proposals.

Over 80 per cent of the proposed investments of about $40 billion in the first to summits have been implemented. The State is confident that it will sustain similar levels of success in converting the rest of the proposed investments to reality, he said.

Gujarat's coastline, agriculture and the energy sector will power the State in its bid for more investments. It is looking at a port-led growth exploiting the opportunities offered by its 1,600 km coastline. Ports linked to special economic zone provided with infrastructure including warehousing and connectivity is the route to attract investments.

Look to the SEZs and investments, including FDIs, will come in, he said.

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