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"Report by Associated Chambers of Commerce and Industry in India lauds development in Gujarat"
"Gujarat tops list of states with highest share of outstanding private sector investment (both domestic and foreign): ASSOCHAM"

In yet another recognition of the dynamism and development in Gujarat, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) has stated that Gujarat tops the list of states with maximum share of outstanding private sector investment (this includes both domestic and foreign private sectors) across India. The data is as of June 2012.

Record Investment Generated, Private Sector Shines!

ASSOCHAM data points out that Gujarat received total investments worth Rs. 14.8 lakh crore of which private sector investment is Rs. 10.3 lakh crore, giving it a 70% share in total investments across Gujarat.

ASSOCHAM further shared that Gujarat has received 12% of total private investment across the nation, which is the highest among all Indian states.

Bureaucratic efficiency, infrastructure among key factors

While releasing the study, senior functionaries of ASSOCHAM pointed out that private investments are decided by a number of factors most notably bureaucratic efficiency, infrastructure, easiness for land acquisition, tax concessions and exit policies among other things.

Gujarat scores impressively on all these fronts. Under the leadership of Shri Narendra Modi, the state has created a wonderful investment climate over the last decade drawing people from all parts of India and the world.

Gujarat among fastest developing states, its growth model most unique

ASSOCHAM is not the only reputed body that is lauding the development journey in Gujarat. Recently, Asia’s leading international brokerage firm CLSA lauded Gujarat’s development model and termed it as most unique. Its report ‘Gujarat: Growth to Sustain’ talks about the uniqueness of the Gujarat model and identifies some of the areas why it has succeeded.

It points out that Gujarat presents a growth model that is sustainable and takes note of the industry friendly policies of the state Government under Shri Modi that have attracted many industries and industrialists. CLSA notes the agrarian transformation of Gujarat, conventionally a state not known for success in agriculture.

Significantly, CLSA states that Gujarat’s strides in development are characterized by low reliance of central funds. This is in tune with what Shri Modi repeatedly says- that the credit for the development of Gujarat goes to its 6 crore people and not those who claim imaginary Hands in the state’s development.

Earlier in June this year, another CLSA publication ‘GREED & fear’ authored by renowned strategist Mr. Christopher Wood praised Gujarat’s growth story and contrasted it with the air of pessimism in New Delhi.

Red Carpet, not Red Tape is the way out: Shri Modi!

Today Gujarat has made a mark as a successful investment destination but behind the dazzling success is a vision and mission of Shri Narendra Modi to make the state a preferred destination for business and the growth engine of India! His Mantra is very clear- Gujarat’s growth for India’s growth.

Over the last decade Shri Modi took several steps that brought about a remarkable turnaround most notable one being the biennial Vibrant Gujarat Summits that have played an anchoring role in scripting the state’s economic progress.

In a recent interview with the Economic Times, Shri Modi made it very clear that when it comes to drawing investment our policy should be a red carpet rather than red tape. He stressed on the need for transparency in decision-making.

Talking about the uniqueness of the Gujarat Model he talked about how state Government’s efficiency, quality infrastructure and skilled labour drew leading auto companies to Gujarat, taking the state as the next auto hub.

King of Governance Narendra Modi offers the Big Idea, articulates a clear and coherent stand on economic issues!

It is this coherence on economic issues that has benefitted the people of Gujarat immensely. Writing in Firstpost, columnist Venky Vembu notes that in the economic sphere, “while the PM offers tired clichés, Modi offers a Big Idea- one that he has actually implemented in Gujarat with manifest success in recent years.

Similarly, Shashi Shkehar argues that Shri Narendra Modi articulates a clear and coherent stand on economic issues .

He has already been praised by several leading think tanks and international journals. A USA Congressional Think Tank called Shri Modi the ‘King of Governance’ while Brookings Institution lauded Gujarat’s growth. Financial Times lauded the growth in Gujarat and Wall Street Journal wrote that in a slow growing India Gujarat is a fast growing star. He became the first Indian Chief Minister to feature on the cover on TIME Magazine, with a story titled ‘Modi Means Business.’

These words by leading international bodies and reputed bodies such as ASSOCHAM illustrate how the state of Gujarat is surging ahead on the path of development, under the leadership of Shri Narendra Modi with the call of ‘Sabka Saath, Sabka Vikas’ (All together, growth for all).

Shri Modi addressing the Valedictory Function of Vibrant Gujarat 2011

 

Main References Cited:

http://economictimes.indiatimes.com/news/economy/finance/gujarat-gets-12-5-of-total-investment-share-in-india-assocham/articleshow/16966352.cms

http://www.thehindubusinessline.com/industry-and-economy/at-12-gujarat-tops-private-investment-list-assocham/article4034669.ece?homepage=true

https://www.narendramodi.in/the-country-can-progress-only-if-we-end-red-tapism-no-red-tape-only-red-carpet-is-my-policy-towards-investors-cm/

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INDIA-EU LEADERS' MEETING
May 08, 2021
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At the invitation of the President of the European Council Mr. Charles Michel, Prime Minister Shri Narendra Modi participated in the India-EU Leaders’ Meeting today.

The meeting was held in a hybrid format with the participation of leaders of all the 27 EU Member States as well as the President of the European Council and the European Commission. This is the first time that the EU hosted a meeting with India in the EU+27 format. The meeting was the initiative of the Portuguese Presidency of the Council of the European Union.

During the meeting, the leaders expressed their desire to further strengthen the India-EU Strategic Partnership based on a shared commitment to democracy, fundamental freedoms, rule of law and multilateralism. They exchanged views on three key thematic areas: i) foreign policy and security; ii) COVID-19, climate and environment; and iii) trade, connectivity and technology. They discussed forging closer cooperation on combating the COVID-19 pandemic and economic recovery, tackling climate change, and reforming multilateral institutions. India appreciated the prompt assistance provided by the EU and its member states to combat its second COVID wave.

The leaders welcomed the decision to resume negotiations for balanced and comprehensive free trade and investment agreements. Negotiations on both the Trade and Investment Agreements will be pursued on parallel tracks with an intention to achieve early conclusion of both agreements together. This is a major outcome which will enable the two sides to realise the full potential of the economic partnership. India and the EU also announced dedicated dialogues on WTO issues, regulatory cooperation, market access issues and supply chain resilience, demonstrating the desire to deepen and further diversify economic engagement.

India and the EU launched an ambitious and comprehensive ‘Connectivity Partnership’ which is focused on enhancing digital, energy, transport and people-to-people connectivity. The Partnership is based on the shared principles of social, economic, fiscal, climate and environmental sustainability, and respect for international law and commitments. The Partnership will catalyse private and public financing for connectivity projects. It will also foster new synergies for supporting connectivity initiatives in third countries, including in the Indo-Pacific.

India and the EU leaders reiterated their commitment to achieving the goals of the Paris Agreement and agreed to strengthen joint efforts for mitigation, adaptation and resilience to the impacts of climate change, as well as providing means of implementation including finance in the context of COP26. India welcomed the EU’s decision to join CDRI.

India and the EU also agreed to enhance bilateral cooperation on digital and emerging technologies such as 5G, AI, Quantum and High-Performance Computing including through the early operationalization of the Joint Task Force on AI and the Digital Investment Forum.

The leaders noted with satisfaction the growing convergences on regional and global issues, including counterterrorism, cybersecurity and maritime cooperation. The leaders acknowledged the importance of a free, open, inclusive and rules-based Indo-Pacific and agreed to closely engage in the region, including in the context of India’s Indo-Pacific Ocean’s Initiative and the EU’s new strategy on the Indo-Pacific.

Coinciding with the Leaders’ Meeting, an India-EU Business Roundtable was organised to highlight the avenues for cooperation in climate, digital and healthcare. A finance contract of Euro 150 million for the Pune Metro Rail Project was signed by the Ministry of Finance, Government of India, and European Investment Bank.

India-EU Leaders Meeting has set a significant milestone by providing a new direction to the Strategic Partnership and giving a fresh impetus for implementing the ambitious India-EU Roadmap 2025 adopted at the 15th India-EU Summit held in July 2020.