Reliance to invest Rs 10000 crore in Gujarat

Reliance Industries chairman Mukesh Ambani said at the inaugural session that it was a matter of pride for him as Reliance was a Gujarati, Indian and global company.

"I believe confidence-building among investors is currently underway," he said.

Ambani said Reliance will invest Rs 8,000-10,000 crore in the state over the next three years. The company has already invested Rs 50,000 crore in Gujarat so far.

Ambani said Reliance wants to become a big player in IT by providing a range of communication services. "We intend to redefine IT by providing broadband information and communication network next to none in the world," he said.

Ficci president A C Mutthiah said the government must set up an advisory council headed by the chief minister to review the progress of various projects.

"We also intend to prepare a strategy document for the growth of Gujarat," Mutthiah said. Chief secretary to the government P K Laheri assured the investors of all assistance in solving their problems.

He said while Gujarat's growth rate will definitely be in double digits, the revenue deficit will be cut by half.

The government had announced its revamped industrial, mineral and tourism policies ahead of the meet.

Over the next five days, sessions on infrastructure (ports and roads), oil and gas sector, tourism, bio-technology and pharmaceuticals, minerals and mining, agro processing and education, will be held at Ahmedabad and Surat. Conferences on textiles and garments and gems and jewellery would also be held.

Inaugurating the summit, deputy prime minister L K Advani expressed confidence that the meet will change the course of Gujarat's economy.

Congratulating chief minister Narendra Modi for the effort, he said the focus should be on developing Gujarat as an information technology (IT) destination on par with Bangalore, Hyderabad and Pune.

Agro-processing and bio-technology sectors should also get a boost, he said.

"I believe that the picture being drawn by the Gujarat government is feasible. It can be achieved with focused work," he said.

Advani said, "Gujarat sends the maximum number of tourists to other states, but does not attract tourists here. There is a vast scope for improvement in this sector."