Business tycoons hails Vibrant Gujarat Summit for providing ease of doing business  
 Source : News Bharati English  Date : 27-Dec-2016

Ahmadabad, Dec 27 : Expressing the satisfaction  about the business environment  in the state of Gujarat top six industrial houses claimed that most of their investment commitments made during previous editions have been fulfilled.

In the wake of 8th Vibrant Gujarat Global Summit 2017  a joint press conference  was held by top industrial houses  comprising of  representatives of Reliance Industries, Zydus Group, Adani Group, Essar Group, Welspun Group, and Torrent Group.

The industry representatives said a total of 51,738 MoUs had been signed in the last seven summits being held since 2003, out of which 30,065 MoUs have been commissioned (58 per cent) while 4,014 agreements are under implementation.

Informing about the status of previous editions Parimal Nathwani who is Group President  of Reliance Industries  said that the company had pledged to invest Rs 1 lakh crore during the last two summits, but ended up investing Rs 1.25 lakh crore. “We have given jobs to 52,000 permanent employees, and 1.40 lakh temporary labourers are engaged for last two years,” he said.

Underlining the important achievements Nathwani said that  the company has  investment of Rs 2.37 lakh crore in the state where projects worth Rs 12,000 crore have been completed. He further added that company invested Rs 9,000 crore in the state for Jio.

Adani Wilmar Group managing director Pranav Adani said, “Over the last two years, we have implemented projects of about Rs 50,000 crore in various verticals, be it infrastructure, power, ports, solar, agri-business.”

Head of corporate affairs and strategic planning of Welspun Group Chintan Thaker informed  that  the company has implemented Rs 13,000-14,000 crore worth projects in the state of which MoUs of more than Rs 12,000 crore were signed in the last two summits.

According to Torrent Group Executive Director Jayesh Desai most of the MoUs signed by the company have been implemented. “We have executed most of the MoUs we had signed and have invested Rs 2,000 crore through the agreements signed in the last two summits,” he said.

Essar Shipping Ports and Logistics CEO and MD, Rajiv Agarwal said making investment in Gujarat has been a good experience. “The Essar Group has signed MoUs worth Rs 1.1 lakh crore, of which Rs 80,000 crore have been invested. There are investments in the pipeline which are taking place in areas of coal, power, refinery, and they will come in future,” he said.

Vibrant Gujarat Global Summit is the pet project of Prime Minister Modi .The four-day summit will be held at Gandhinagar from January 10.