My Article in THE ECONOMIC TIMES on Vibrant Gujarat Investment is only on paper

Gujarat was vibrant much before Mr Narendra Modi was on the horizon of politics. Gujarat’s 11% growth rate compared to the country’s 8.49% is no breaking news. Gujarat has always been ahead. Those who know Gujarat and believe in reality more than rhetoric know that in 1994-95 , Gujarat’s growth rate was 13.2% compared to India’s growth rate of 6.3%.I believe that it is inherent entrepreneurship skills and “Gujaratiness” that is responsible for its amazing growth story besides the state’s strategic location and natural resources. Trade and industry is in Gujarati DNA and long back before Mr Modi or I were born, trade transaction permission and first actual trade by British took place in Gujarat. There is record that in 3rd century BC, Greeks found Gujarat to be outstandingly market-oriented .

India’s largest ship breaking yard in Alang, the largest greenfield refinery in Jamnagar, the country’s first private port in Pipavav all came much before Mr Modi came to Gujarat. In fact, now hoardings with Mr Modi’s wellrehearsed poses scream Gujarat tops in castor or soda ash production but this has been the case since the last three decades. Other than credit claiming and event management, what is Mr Modi’s contribution?

Only those who know Gujarat from the periphery can get carried away by Mr Modi’s claims. RTI records prove investment coming in this summit mainly exist on paper. None of the 31 MoUs of power sector of 2009 Vibrant Summit amounting to . 2,11,895 crore offering employment to 58,000 people have seen the light of the day. The Modi government claims to have attracted investment promises worth over . 7 lakh crore in energy sector alone this time. Investors have promised investments in 42,000 MW of renewable energy projects when the entire solar mission aims at 20,000 MW of solar power by 2021 Gujarat does not need more than 2,000 MW of renewable projects in the state! From a blood-shedding expert to a book-keeping wizard, Mr Modi has marketed himself well but then all hype and hollow action is what the summit is about.