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Vibrant Gujarat beckons Gulf investors
Gujarat, one of the most investor-friendly states in India, hopes to attract investments and entrepreneurs from the Middle East in its drive to sustain the momentum of its phenomenal economic growth over the past few years.
The industrially advanced state, which boasts an impressive per-capita net state domestic product, presented to prospective investors in Dubai the state’s huge potential as a manufacturing hub offering attractive tax incentives and hassle-free licensing procedures.
Gujarat, well recognised as India′s manufacturing hub, where industrial production accounts for 27.4 per cent of the Gross State Domestic Product, has been luring investors interest from across the world.
A high-level 10 member delegation from the state, regarded as India′s growth engine, showcased on Tuesday investment opportunities to leading industrialists and businessmen in Dubai at a seminar on ‘Investment Opportunities in Gujarat’. The Indian Business and Professional Council, Dubai hosted the event, under the aegis of the Consulate General of India in Dubai.
The delegation, led by Kamal Dayani, Industries Commissioner, Government of Gujarat, comprised senior executives from Gujarat’s leading private and government companies in oil and gas, chemicals and fertilisers, information and communications technology, and infrastructure sectors.
Addressing the gathering, Dayani invited UAE-based business leaders, investors, corporations, academicians and policymakers to the Vibrant Gujarat Summit to be held in Gandhinagar from January 11-13, 2013. He said with Gujarat’s focus on education, knowledge industries and youth development, Vibrant Gujarat 2013 would be the stage for a host of world leaders to deliberate on the issues facing global economies as they strive towards inclusive and balanced development.
The last summit – the biggest in South Asia - was a major success with more than 100 different countries gathering in Gujarat to discuss new cross-border investment opportunities or ways to expand their existing operations, he said.
The Indian Consul General in Dubai, Sanjay Verma said Gujarat is a business enabler and investment friendly state and that the businessmen based in the UAE should take part in this opportunity to invest in the state.
Dr Bharat Butaney, President, Indian Business and Professional Council, welcomed the delegates and said, “Gujarat is progressing like no other state in India and today we are glad to be holding this seminar to inform about the business opportunities available in the state to the UAE based businessmen.”
Also present at the event were Kulwant Singh, secretary general, IBPC and A. K. Vijay Kumar, Special Commissioner, Gujarat Investment Promotion.
The 5th edition of the Vibrant Gujarat Summit – held in January 2011 – witnessed participation from nearly 101 countries with over 1,400 foreign delegates and more than 35,000 Indian delegates. About 8,380 MoUs were signed. According to a recent study, Gujarat, a power surplus state, has garnered the maximum share of about 36 per cent in the total number of completed projects put to service delivery under the public-private partnership (PPP) model.
Of 227 PPP projects worth over Rs 680 billion under operation in India as of December 2011, Gujarat accounted for about 31 completed PPP projects worth over Rs 24o On the infrastructure front, the state has implemented projects faster than others and the rail-road connectivity with ports has improved. Gujarat’s gas grid has also been a success. According to industry experts, gas accounts for 25 per cent of the state’s energy basket.
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