(from left to right) Ms. Mariette Mulaire, Head, WTC Winnipeg, Canada, Dr. S P Sharma, Chief Economist & Director- Research, PHD Chamber, Ms. Khair Ull Nissa Sheikh, Director, WTC Services India and Mr. Scott Wang, Vice President, World Trade Centers Association, Asia Pacific.
PHD Chamber participated in the Vibrant Gujarat Summit where Dr. S.P. Sharma, Chief Economist & Director- Research and Ms. Megha Kaul, Senior Research Officer, PHD Research Bureau visited the summit on 12th January 2015 and released a research report on “Exploring Prospects for Make in India and Made in India: A Study” conducted in collaboration with WTC Services Council, India at the Exhibition of the Summit. The study was released by Ms. Mariette Mulaire, Head, WTC Winnipeg, Canada, Mr. Scott Wang, Vice President, Asia Pacific, World Trade Centers Association, Ms. Khair Ull Nissa Sheikh, Director, WTC Services India, and Dr. S P Sharma, Chief Economist & Director- Research, PHD Chamber.
The study pertains to know about the structure and growth of manufacturing sector in India and to the operational issues faced by manufacturing sector with regard to infrastructure facilitation, availability of credit, access to capital, availability of land, identification of new markets, environmental clearances, simplification of taxation, etc.
More than 100 attendees were present during the launch of the study. The Vibrant Gujarat Summit witnessed signing of a whopping 21,000 Letters of Intent (LoI) worth Rs. 25 lakh crore. Along with this, 1,225 strategic partnership agreements were signed during the summit, which saw participation of over 25,000 delegates from 110 countries.
The companies that have disclosed their investment commitments include Reliance Industries, Adani Group, Aditya Birla Group, Suzlon and Videocon, as also foreign players like Rio Tinto, Suzuki and CLP Holdings. The proposals also include creation of lakhs of jobs.
Reliance Industries Chairman, Mr. Mukesh Ambani announced Rs 100,000 crore investment across businesses in the next 12-18 months and said India was on the path to become the world's fastest growing economy. The investments will be in expanding petrochemical production capacity as well as in launch the much-awaited 4G broadband services while contributing to Make in India and Digital India initiatives. Mr. Cyrus Mistry, Chairman, Tata Group, and Mr. Rana Kapoor, MD & CEO, Yes Bank, pledged an infusion of Rs 7,500 crore into Gujarat and over 100 branches over the next two years.
On the sidelines of the Vibrant Gujarat Summit in Gandhinagar, Hon’ble Prime Minister, Shri Narendra Modi ji, met Hon’ble UN Secretary General, Mr. Ban Ki Moond and discussed issues related to climate change, environment and clean energy. He also met Mr. John Kerry, US Secretary of State and both sides expressed satisfaction over issues relating to WTO Trade Facilitation that had been satisfactorily resolved. Counter-terror cooperation, economic matters, and issues of regional interest also figured in the talks.
During the summit, the Hon’ble Prime Minister also met Israel 's Agriculture Minister Mr. Yair Shamir. Both sides sought to further enhance cooperation in the agriculture sector. Hon’ble Prime Minister invited Israel to take advantage of the Make in India initiative and establish high-end manufacturing centers in India .
Shri Narendra Modi ji also met Dr. Akbar Torkan, Senior Advisor, Hon’ble President, Iran . Both sides reviewed progress in the implementation of the Chahbahar Port Project and issues related to energy cooperation also came up for discussion. Further, in his meeting with the Prime Minister of Macedonia, both sides agreed on the need to enhance trade and investment ties.
Going ahead, government of Gujarat has also signed an agreement with the UN for sustainable energy and a tripartite agreement with the Government of India and World Bank, which will contribute to the Clean India campaign.
Warm regards,
Dr. S P Sharma
Chief Economist & Director-Research
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