Gujarat has capacity to create a niche for ‘Made in Gujarat’ goods in global economy, and build ‘Gujarat’ as a brand: CM

Gujarat has capacity to create a niche for ‘Made in Gujarat’ goods in global economy, and build ‘Gujarat’ as a brand : Narendra Modi

Gujarat has the resources, location, entrepreneurship and leadership to become a global business destination

                                                                                        – Prof Jagdish Sheth

Gujarat Chief Minister Narendra Modi today asserted that the state has all the capacity and ability to create a niche for ‘Made in Gujarat’ goods in global economy as well as build ‘Gujarat’ as a brand.

Speaking at a lecture by international expert on marketing Prof Jagdish Sheth on the occasion of Vibrant Gujarat Global Investors Summit-2013 at Mahatma Mandir, Mr. Modi said that Gujarat is situated at a strategic location where East meets West.

He said that the state took initiative in spreading Information Technology & Communication (ITC) around 2009 and connected 18,000-odd villages through broadband. In sharp contrast, the Centre could not do it for hardly 3,000 villages. Just as Gujarat has joined the world’s Ivy League of sorts in cracking cyber crime by establishing Forensic Science Library here, he said, Gujarat is now poised to embark on the next stage of Information Highway, onto the highway of human development.

Mr. Modi stressed on the need to take the Indian economy from being a ‘Market’ to become a part of ‘Market Economy’ for a win-win situation. He said that Gujarat is part of a ‘developing country’ but has the capacity to partner ‘developed countries’. The people of Gujarat already belong to the global community and have the global intellectual capacity to showcase its prowess.

Prof Jagdish Sheth said Gujarat has four plus points to compete in the global economic system, they being resources, location, entrepreneurship and leadership. These qualities could take Gujarat to eight advantageous situations: (1) to create a developed market from unorganized market, (2) to invest in business accounting infrastructure, (3) to attract the best domestic and global brains, (4) to develop a cosmopolitan culture, (5) to strengthen public-private partnership, (6) to set up world-class institutions, (7) to establish global mindset and international benchmarks, and (8) create its own positive image of ‘Gujarat’ as a brand.

He had a word of praise for the political stability, public-private partnership and good governance in Gujarat as has been put into practice by the Chief Minister for all round development of the state, marching onto the path of ‘inclusive growth’, according it more importance than economic growth.

Prof Sheth dwelt on what would be the socio-economic equations and what roles the Chinese, Indian and American economies would play in this competitive world by 2020. He said that China and India would transform themselves as the leaders of emerging economy in the form of ‘CHINDIA RISING’.

He also predicted that India would grow faster after 2020 and China’s single-child policy would make it an ageing country thereby reducing its working population and slowing down its economy.

The lecture was followed by question-answer session.