Narendra Modi: A Political Biography by Marino Andy

Author:Marino, Andy [Marino, Andy]
Language: eng
Format: epub
Tags: Biography
Published: 2014-04-07T18:30:00+00:00

As soon as he became chief minister in October 2001, Modi began to work assiduously towards holding a business–industry summit with a view to attracting new investment – especially foreign direct investment (FDI) – into the state. He involved the GCCI as well as its parent national federation, and attracted delegates from Asia, Europe and the US. It was titled Resurgent Gujarat and was the prototype of what would later be his series of larger, two-yearly Vibrant Gujarat summits. Modi had hosted it from 8 to10 February 2002, a mere fortnight or so before Godhra.

In the wake of the bloodshed, it now appeared obvious to the media that investors would be rowing at full speed back to their own countries. The Hindu pointed out at the time that investment promises generated by the first Resurgent Gujarat summit, worth Rs 12,360 crore, would just about cover the losses incurred during the riots. Its analysts declared: ‘Investors are not only likely to shy away from future investment but the existing industry may also leave the state.’10 But three months after the riots foreign investors turned their boats around and announced new projects in Gujarat worth Rs 75,800 crore.11

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