Recession is an opportunity: Narendra Modi

September 10, 2012 11:14 am

“Recession is an opportunity to attract international business alliances by offering zero-defect quality manufacturing produce at lower labour costs in the shadow of effective governance,” said Gujarat Chief Minister Narendra Modi amid rising concerns about economic sluggishness, quality of governance and dipping investor morale.
Commenting on increasing the growth rate of India, Mr. Modi said, “In order to achieve a double figure growth rate for the nation, we need to strengthen the agricultural, manufacturing and service sectors that act as three pillars of the Indian economy. Skill development being the biggest focus for this, we need to excel in the skill development in Gujarat as well as India.”
Sharing on the Vibrant Gujarat achievements, Mr. Modi shared, “Vibrant Gujarat 2011 was the ‘Indian Davos’ with a power punch response from the participants about 19 Indian states, 112 countries and 20 global political leaders. This was the dream since 2003 as it was started with a participation of nearly 600 delegates from 12 different countries. We feel proud of creating the Davos momentum in India.”
Rajiv Vastupal, and President of AIMA said, “Attracting national and international investments of around ` 16.28 lakh crore, Gujarat has alone bagged more than 13 per cent of the investments nationwide. With an emphasis on building economic potential of people and creating economic opportunities, Gujarat has not only maintained a tremendous GDP growth rate, but also reduced unemployment rate to 1.3 per cent. A policy-driven and performance-oriented approach has made the state an attractive option for large Indian and foreign multinationals to come to Gujarat.”