Gujarat, Haryana woo investors

NEW DELHI: The chief ministers of Gujarat and Hrayana unveil the advantages of investing fruitfully in their respective states.

Addressing the special session at the 79th Annual General Meeting of FICCI, the Gujarat Chief Minister, Mr. Narendra Modi said: “Gujarat is poised to be India’s growth engine, with the Planning Commission expecting the state to achieve an average annual growth of 10.2%, the highest amongst all major states, in order to achieve an overall growth of 8.2% for the country.”

The state has also proved its investment-worthiness by mobilizing the highest share of around 16% of the investments through IEMs approved in the country, a FICCI press release reports.

Mr. Modi said Gujarat offered the best physical and social infrastructure. “We are linking our ports with road connectivity with private partnership. The concept of production to port is being implemented with full vigour and we are in the process of developing 10 more ports at Greenfield locations. Increased manufacturing, supported by essential infrastructure, cold storages and centers of excellence will ultimately lead the finished products to the ports for export.”

He said investment opportunities abound in traditional areas like textiles, chemicals, drugs and pharmaceuticals. Besides, there is huge scope for investment in emerging areas such as IT and IT Enabled Services, biotechnology and nanotechnology.

The state also sees ample scope for private investment in power, roads, ports, industrial parks and SEZs, communications and institutions of higher learning.

The Gujarat Chief Minister said the state had minimized power deficit through effective load management and a visionary approach towards power generation. The present generation capacity of 9,700 MW, excluding 4,000 MW of captive power, will almost be doubled in the next five years.

Mr. Modi said the state offers complete labour flexibility to units located in SEZs.  The state accounts for only 0.55% of man-days lost and was today recognized as having the highest degree of economic freedom and being the most investor-friendly. He invited Indian and foreign investors to the 3rd Global Investors’ Summit on January 12-13, 2007 in Ahmedabad, to see the sea change in Gujarat and the opportunities that it offers.

The Haryana Chief Minister, Mr. Bhupinder Singh Hooda, pointed out that Haryana was on the fast track of development in all spheres. The growth of industry and industry-related infrastructure during the last couple of years has been phenomenal.

The state has witnessed an unprecedented flow of investment worth Rs 10, 000 crore after the announcement of the new industrial policy in 2005. Projects worth Rs 40,000 crore were in the pipeline, which include FDI proposals of Rs. 1380 crore.

Mr. Hooda said: “the vast investment opportunities in Haryana emanate from its locational advantage. A third of the state falls under the National Capital Region.

Its strong agriculture base, fully developed infrastructure facilities, proximity to Indira Gandhi International Airport, a responsive administration, investor-friendly environment, skilled manpower, excellent law and order, cordial labour relations and a balanced package of incentives, provide a conducive environment for attracting domestic and foreign investment.”

He said consistent efforts by the State Government had resulted in the state becoming the best managed in terms of its financial and fiscal management. “We have not only been able to contain but also to reduce the revenue deficit.

Today, Harayana stands on sound footing and our financial health gives us the benefit to move forward in creating infrastructure to boost economic activities. This is in spite of the fact that we have abolished octroi and removed fiscal barriers of sales tax.”

The state has also placed great emphasis on the promotion of frontier technologies like nanotechnology, biotechnology, development of new materials, encouraging conservation of energy and development of alternative sources of energy, development of design capability and development of new drugs.

Source: Ciol Bureau

Refer this article to a friend