Like his predecessor Ratan Tata, the new chairman of Tata Sons, Cyrus Mistry, too, promised to continue the group’s association with Gujarat. Mistry termed Gujarat Chief Minister Narendra Modi and Gujarat as a “true partner” in the Tata group’s endeavour to create long-term value for its stakeholders.
“I want to emphasise the focus of Tata group in creating long-term value creation for all its stakeholders. And in this journey, I do consider the state of Gujarat and the chief minister, Narendra Modi, as a true partner,” Mistry said at the valedictory ceremony of the biennial Vibrant Gujarat Summit in Gandhinagar on Saturday.
Mistry kept his first public address after taking charge as chairman of Tata Sons short and focussed on the group’s interest in Gujarat. “It is on this foundation that we have seen some remarkable progress and creation of value full of faith,” he said.
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Praising the enabling environment and infrastructure put in place by the state government as a major attraction for industries, he said, “This has been a catalyst, influencing the decisions of many companies to locate their industrial and economic activity here, in the state of Gujarat.”
On Modi’s administrative qualities, he said: “In Gujarat, we see a culture of implementation at various levels of government, reflecting the leadership qualities of the honourable chief minister.”
He also saw a global role for Gujarat. “The rest of India and, in fact, the entire world will focus on the stability of policy framework set up by the government of Gujarat, providing an environment that attracts investments, by institutions such as the Tata group.”
However, the Tata Sons chairman also added a word of caution with regard to stable policies and its implementation in true spirit. “In a world filled with uncertainty and volatility, it is extremely important that proactive and balanced policies of the government of Gujarat be implemented in true-to-its spirit and intent to ensure long-term sustainability and attractiveness of the state of Gujarat.” But he expressed confidence in the Gujarat leadership to stand up to the challenge.
Mistry said the group’s commitment in Gujarat went beyond industrial activities, and was also focused on improving the quality of life in the communities it is involved. “We are engaged in programmes promoting skill-based employment, environmental management, primary health care and sustainable development. We continue to remain committed to this strategy,” he added.
Unlike previous summits, Chief Minister Modi refrained from announcing the investments proposed at the summit this year. Announcement of the “magic figure” had become a trademark of the Vibrant summits.
Enthused by the third consecutive victory in the Assembly elections, Modi invited companies and delegates to the 2015 Vibrant Gujarat Summit.
The mega-event saw participation of 58,000 delegates, including 2,100 from 121 countries, in the two-day flagship programme of the Gujarat government. As many as 127 events were held and 830 experts spoke on various sectors, including green energy, education partnerships, and affordable housing.
More than 17,700 memoranda of understanding (MoUs) were signed in knowledge sharing, education and skill development — focus of the sixth Vibrant Gujarat Summit. As many as 12,886 MoUs were signed for investments in small and medium enterprises. The investments are expected to generate over 0.37 million jobs.
After they together paid Rs 12 lakh to settle charges related to alleged delay in amending insider trading norms