India Inc. lauds "king of kings " Modi
Indian industry titans showered lavish praise on Gujarat Chief Minister Narendra Modi on Friday, lauding the right-wing leader's business friendly administration and promising crores of rupees in investments.
Around 50,000 investors including several heavyweights from the Indian business universe are taking part in the Vibrant Gujarat Summit 2013, the flagship biennial congregation where Modi employs his marketing pull to drive investment in the state.
In his address, Reliance ADAG Chairman Anil Ambani chairman heaped generous praise on the Chief Minister who claimed a fourth consecutive victory in state elections last month, comparing him to the likes of Mahatma Gandhi, Sardar Patel and father Dhirubhai Ambani.
"Narendra Bhai has been described in different ways. My personal favourite comes from what his name literally means in Sanskrit - a conjunction of Nara and Indra. Nara means man and Indra means King or leader. Narendra bhai is the lord of men and a king among kings," Ambani said.
He also went on to say "Narendra Bhai has the Arjuna-like clarity of vision and purpose" and that his skills have "acted as a huge magnet for investors and entrepreneurs from India and across the world in the past decade".
His brother and Reliance Industries chairman Mukesh Ambani announced that his company, India's largest listed firm, had committed more than Rs 1 lakh crores in investments over the next three years.
"In Narendra Bhai, we have a leader with a grand vision. I am proud to say that RIL is a Gujarati, Indian and a global company. We began from Gujarat and we come back here again and again to invest," Ambani said.
Tata Sons chairman emeritus, who stepped down from the top post of the salt-to-software conglomerate last month and continues to be one of the most respected Indian business leaders said Modi should be credited for the achievements of Gujarat in drawing investments.
"Gujarat stands out better than other states in India and the credit goes to chief minister," said Tata, reiterating his famous quote "one would be stupid to not be in Gujarat" and saying that the company has already committed Rs 34,000 crores in investment in the state.
Godrej Group chairman Adi Godrej said, "Gujarat has made a remarkable progress. We see almost every state embarking on an investors' summit now - a pro-active approach established with a walk the talk approach of the government here."
Mahindra and Mahindra chairman Anand Mahindra said, "There is something about the food in Gujarat that makes Gujaratis not just entrepreneurial but they are remarkably free of the fear of failure. And to me, this freedom from the fear of failure is at the root of entrepreneurship and innovation."
Adani Group chairman Gautam Adani said, "Over the past decade, Gujarat's GDP has grown at an average of at least 2 percent point faster that India's. No leader of any state has had such a massive impact on modern India."
ICICI Bank Managing Director Chanda Kochhar said, "Gujarat welcomes growth, progress and investment. Gujarat is not just the fastest growing state in the country but by that token actually it becomes one of the fastest growing regions in the world."