Modi invites Andhra investors to Gujarat

HYDERABAD - Gujarat Chief Minister Narendra Modi Sunday said his dream was to develop his state as the globally-preferred place to live in and do business in and invited investors from Andhra Pradesh to be part of this growth story.

Addressing industrialists at a meeting organised by the Confederation of Indian Industry (CII), Modi invited investors to the “Vibrant Gujarat Summit 2011″ Jan 12-13 at Ahmedabad.

The fourth such summit held in 2009 attracted an investment commitment of over $243 billion despite the global recession, he said.

Describing Gujarat as the growth engine of India and listing out the strides it made in various sectors, he said the state’s development model was unique.

“Gujarat’s growth is for India’s growth. We are committed to contribute immensely to India’s growth. The Gujarat growth model is unique. With active participation of people, development is becoming a mass movement,” he said, amid thunderous applause.

Modi said the proposed special investment regions (SIRs) in the state would be developed as global hubs of economic activity supported by world-class infrastructure.

“Development of SIRs will be in line with the development Delhi-Mumbai industrial corridor and will change the economic profile of the entire country,” he said.

“If you want to be ahead of time you must be in Gujarat,” he told industrialists.

Maheshwar Sahu, principal secretary, industries, Gujarat, said a total of 13 SIRs would be coming up in the state, each over an area of 10,000 hectares. Five of the SIRs have already been notified.

He pointed out that 38 percent of the proposed Delhi-Mumbai industrial corridor fell in Gujarat.

The investment for the corridor was expected to be $90 billion by 2020. Sahu said 60 percent of this investment would come to Gujarat.

The cargo handled at 42 ports along the 1,600 km Gujarat coastline is 35 percent of the total cargo handled in India. This is expected to double in three-four years.

He said Gujarat was a power surplus state and it would add 4,000 to 5,000 MW power generation capacity a couple of years.