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Gujarat gained from investments by Indian diaspora: Modi

Last Updated: Saturday, January 9, 2010 - 14:42

New Delhi: Despite the global financial crisis, Gujarat`s economy was boosted by record-breaking investments made by the Indian diaspora and companies, according to Chief Minister Narendra Modi.

Speaking on the concluding day of the three-day Pravasi Bharatiya Divas (PBD) 2010, the annual conclave of the Indian diaspora, here Friday, Modi said Gujarat has become a top investment destination in India and this has been proved by the "stupendous success" of the annual Vibrant Gujarat summits that bring overseas Gujaratis together.

"The latest summit in January 2009 was held in the midst of an economic gloom with the world suffering from the global financial crisis," he said.

"Gujarat`s economy was boosted at the summit by record-breaking investments; companies committed to MoUs (memorandums of understanding) of more than USD 240 billion."

The chief minister said the state has moved beyond its 200 industrial estates and 60 special economic zones (SEZs) to Special Investment Regions (SIRs) now.

"The Dholera SIR will see global economic activity supported by world class infrastructure, premium civic amenities, centres of excellence and proactive policy framework," he said.

He buttressed this by citing a Deutsche Bank study, which stated that Gujarat offered the most favourable outlook for growth of demand for infrastructure projects.

With the state celebrating its golden jubilee this year as Swarnim Gujarat, Modi invited members of the diaspora to be part of the celebrations.

"The diaspora have already committed with investments, social service and professional expertise. Today, consider accepting a new invitation. This is your invitation to come and be actively part of Swarnim Gujarat celebrations," he said.


First Published: Saturday, January 9, 2010 - 14:42

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