Prime Minister Narendra Modi inaugurated the 7th edition of Vibrant Gujarat Summit,
hosted by the Gujarat government, today.
Modi told business
delegations and visitors from over an 100 countries that India was the ideal
place to invest because of low-cost manufacturing, a high quality workforce,
and a young population. He also promised to create favourable conditions for
setting up businesses with ease in the country.
Reliance
Industries Chairman Mukesh Ambani on Sunday announced Rs 100,000 crore (Rs 1
trillion) investment across businesses in the next 12-18 months and said India
was on the path to become the world's fastest growing economy.
The
investments will be in expanding petrochemical production capacity as well as
in launch the much-awaited 4G broadband services while contributing to Make in
India and Digital India initiatives.
BarackObama is "very excited" that he will be the first United States
President to be honoured as the chief guest at India's Republic Day
celebrations, Secretary of State John Kerry said on Sunday.
Speaking
at the 7th Vibrant Gujarat Summit in Gandhinagar, he said, "President
Obama is very excited and particularly pleased with the fact that he will be
the first US president to be honoured as the chief guest on Republic Day
commemoration."
Prime
Minister Narendra Modi had invited the US president to be the chief guest at
this year's Republic Day celebrations on January 26. Obama accepted the
invitation in signs of expanding ties between the two nations.
The
2015 edition of the Vibrant Gujarat summit is all about ‘globalising’ the event
and taking it into a higher orbit with the help of the eight partner countries
who have co-sponsored the event, said Saurabh Patel, who is in-charge of the
summit.
“The
Vibrant Gujarat summit is the Davos of the East. We want it to be as famous as
Davos," said Patel. The summit, organised by the state, has been controversial
in the past for many reasons.
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