Vibrant Gujarat Summit kicks off today, RIL to invest Rs 1 lakh crore

Gandhinagar/New Delhi: Chief Minister Narendra Modi inaugurated the sixth edition of biennial Vibrant Gujarat Global Investors’ Summit (VGGIS) at Mahatma Mandir in the state capital, Gandhinagar.

Ambani brothers, Mukesh and Anil Ambani, heading Reliance Industries and ADA Groups respectively, Tata Sons chairman emeritus Ratan Tata, ICICI MD and CEO Chanda Kochar, Mahindra & Mahindra chairman and MD Anand Mahindra were present for the inaugural session of the event.

Reliance Industries Limited Chairman Mukesh Ambani praising Modi said, "It is better to speak in action than (to speak) in words". He also said that his company has plans to invest Rs 100,000 crore in Gujarat in next three years.

Lavishly praising Modi and also comparing him to Gandhi and Patel, younger brother Anil Ambani said (Modi was) "a king among kings."

Anand Mahindra, speaking on the inaugural session said, “we have always talked about China’s growth model in comparison to Gujarat, but I tell you a day will come (not in the distant future) that we will talk about the Gujarat growth model in China”.

VGS will also see many industry stalwarts like Tata Sons chairman Cyrus Mistry, Sunil Bharti Mittal and Kumar Mangalam Birla.

Around 50,000 delegates from India and 1,800 others from 105 countries are expected to participate in the two-day summit, followed by meetings between businesses and government on Sunday.