Demonetisation will boost confidence of foreign investors: Vijay Rupani

At pre-Vibrant Summit meet in Mumbai, Vijay Rupani woos business tycoons.

Written by Shubhangi Khapre | Kolkata | Updated: November 23, 2016 1:14 pm
vijay-rupani-759 Gujarat Chief Minister Vijay Rupani with Ashish Chauhan, MD and CEO of the Bombay Stock Exchange, at BSE in Mumbai on Tuesday. Prashant Nadkar

The demonetisation drive to tackle the problems of black money and terrorism will send a positive signal to foreign investors, says Gujarat Chief Minister Vijay Rupani. Speaking to The Indian Express on the sidelines of the pre-Vibrant Gujarat Summit meet in Mumbai, Rupani said, “Prime Minister Narendra Modi’s decision to replace Rs 1,000 and Rs 500 notes was a master stroke. It will boost the confidence of the foreign investors in doing business with India.”

WATCH VIDEO: Demonetisation: Relief For Common Man: Find Out More

According to the report for year 2015, Gujarat claimed it attracted foreign direct investments up to $12.4 billion. While claiming its contribution is 7.14 per cent of GDP of India, it accounts for 35 per cent of the stock market wealth of India. While describing the hardships to the people caused due to currency change as temporary, he said, “The decision will not have any adverse impact on the politics.”

Rupani held one-to-one meetings with CMD of Reliance Industries Mukesh Ambani, executive chairman of Mahindra Group Anand Mahindra and chairman of Tata Group Ratan Tata. The CM also met the chairman of Godrej Group, Adi Godrej, CEO of Kotak Mahindra Bank Uday Kotak, Chairman of Welspun Group B K Goenka, MD of Sun Pharmaceuticals Dilip Shanghvi and the chairman of Reliance ADAG Anil Ambani.

Rupani also addressed a gathering of businessmen where he highlighted the investment potential in GIFT City, Mandal-Becharaji SIR, Dahej PCPIR and Dholera SIR. He also said that policies for biotech, healthcare, defence and aerospace will be finalised in the coming week. Dr JN Singh, Chief Secretary, PK Taneja, Additional Chief Secretary Industries and Mines Department were among the state government officials who were present in these meetings.

PM Narendra Modi will inaugurate the eighth edition of the Vibrant Gujarat Summit which will be held from January 10 to 13, 2017. While expressing concerns over Gujarat ranking taking a beating to states of Andhra Pradesh and Telangana from number one to three position, Rupani said, “We will work out to restore the rank through new efforts.”

While elaborating on how Gujarat will get all the support from the Centre, he said, “In the past when Modi was the chief minister of Gujarat, UPA government at the centre never cooperated with the state. They tried to thwart Modi’s efforts to develop the state.” However, “Modi, who is leading at centre holds special place for Gujarat, will extend full support for its development in every sector.”
While revealing that they would partner with Singapore for the summit, he said, “In the next three weeks the state government would formalise its policies on defence, aerospace, health and digital.”

To attract major manufacturers in Gujarat, the government has taken the decision not to impose the pre-condition of impact assessment environment document for setting up units in defence and aerospace sectors.

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