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| Narendra Modi a 'king among kings', |
| Narendra Modi a 'king among kings', says Anil Ambani at Vibrant Gujarat summit
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| INDIA
, 11-January-2013
3:2:19 AM |
| Narendra Modi received lavish praise today from India Inc at the biennial Vibrant Gujarat summit that began today, where the chief minister of Gujarat employs his marketing savvy to drive investment in his state.
Mukesh Ambani, the chairman of Reliance Industries, said "In Narendra Bhai, we have a leader with a grand vision." He announced a Rs. 500-crore university that will be set up in collaboration with the Gujarat government.
His younger brother, Anil - a headlining rapprochement was reached recently - acknowledged "respected elder brother Mukesh Bhai" in his opening remarks before going on to call Mr Modi "a king among kings." There was more. "Narendra Bhai has the Arjuna-like clarity of vision and purpose." He said the chief minister's skills have "acted as a huge magnet for investors and entrepreneurs from India and across the world in the past decade."
Mr Modi was re-elected for a third time as chief minister of Gujarat last month.
Initiated by Mr Modi in 2003 to attract investment after the violence and an earthquake in 2001, the event is attended by thousands of corporate officials who pledge billions in investment, although in reality only a fraction has seen the light of day. Of 12,40,000 crore rupees in investment proposed at the 2009 event, just 8.5 per cent had been spent as of November 2011, according to state government data.
Industry in Gujarat is helped by a long coastline and plenty of barren land that is easy to turn over to factory use.
Mr Modi has also been able to leverage the well-acknowledged business acumen of Gujaratis, a prosperous global diaspora and the support of billionaires such as Adani Group chief Gautam Adani and Mukesh Ambani who controls Reliance Industries, India's most valuable company.
"Under Modi's regime, there has been significant improvement in infrastructure growth, significant improvement in industrialisation, as well as agriculture," said Jahangir Aziz, senior Asia economist at JP Morgan.
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