Gujarat Chief Minister Narendra Modi on Wednesday stressed the need for developing “technology with a human face” with benefits flowing to the developing countries as well.
Inaugurating the fifth edition of the “Vibrant Gujarat Global Investors' Summit” here, Mr. Modi said the time had come to initiate changes with the changing times. “Development with justice, growth with equity and optimal use of resources for maximum benefits should be the ‘mantra' of development in the 21st century.” Mr. Modi's vision and his government's proactive initiatives for progress received fulsome praise from the top industrial leaders present. The Summit, of which Japan, and Canada are global partners and the Confederation of Indian Industry (CII) national partner, was attended by the representatives from 90 countries and 19 States in the country. Prime Minister of Rwanda Bernard Makuza was the chief guest.
Perhaps for the first time since the split, the Ambani brothers, Mukesh and Anil, were seen on the same platform besides other doyens of Indian industry, including Ratan Tata of the Tata group, A.M. Naik of Larsen and Toubro, G.V.K. Reddy of GVK group, Gautam Adani of the Adani group, Anand Mahindra of Mahindra & Mahindra, Ajit Gulabchand of Hindustan Construction Company (HCC), Adi Godrej of the Godrej group, Media magnate Subhash Chandra, and Chanda Kochar, ICICI Managing Director.
Among the international personalities present were Japanese Ambassador Hideaki Domichi and Canadian High Commissioner Stewart Beck.
Hafeez Rahman, Director-General of the Asian Development Bank; Kevin Bentley, Deputy Cabinet Member to Lord Hanningfield, the United Kingdom; Roberto Paranhos do Rio Branco, President of the Brazil India Chamber of Commerce; Ron Somers, President US-India Business Council; and Raman Singh, Chhattisgarh Chief Minister, were present.
Mr. Mahindra announced an investment of Rs.3,000 crore through six projects, including development of an integrated business city in Dholera Special Investment Region in the Delhi-Mumbai Industrial Corridor (DMIC) and setting up of seven new Club Mahindra resorts.
Mr. Anil Ambani, Chairman and Managing Director of the Anil Dhirubhai Ambani Group (ADAG), announced investments of Rs.50,000 crore in the State in the next five to seven years in cement and coal and gas-based power plants in Kutch, Junagadh and Porbandar districts. Mr. Tata said his Group would assist the government in rural development, particularly transport. Mr. Mukesh Ambani, Chairman and Managing Director of the Reliance Group, said his Group would now be directly associated with the Pandit Deendayal Petroleum University (PDPU), Gandhinagar, and make it a world class institution.
Mr. Naik promised investments of Rs.15,000 crore in engineering projects. Mr. Adani said his group planned to invest over Rs.80,000 crore in power projects. Mr. Gulabchand promised investments of Rs. 12,000 crore at Dholera, while Prashant Ruia of the ESSAR group said his companies planned to invest Rs.30,000 crore in power, ports, refining crude and water technologies.
Prasoon Mukherjee, Chairman of the Singapore-based Universal Success Enterprises Ltd (USEL), promised to invest Rs.6,500 crore on infrastructure and ship-building projects.