You are here: Home » PTI Stories » National » News
Business Standard

Gujarat's image improved further due to Modi's initiatives:Min

Press Trust of India  |  Bengaluru 

The image of state has improved further due tothe proactive response to Prime Minister Modi's various schemes, including 'Startup Standup India', Industries Minister Rohit Patel said today.

Among the various sectors, that have been propelling Gujarat's economy, the government had implemented the 'Make InGujarat' on the lines of 'Make In India' concept to encouragestartups in the state, he said.

Speaking to PTI on the sidelines of the roadshow of the Vibrant Global Summit 2016 here, he said though failed as a compact car, Tatas had not failed asthe company till persists to stay on in Gujarat to makea luxury car. "We gave facilities for Nano, the car failed, but Tatas haven't failed. They are going to manufacture a luxury car there. Such is the image of Gujarat - it is business-friendly," he added.

The government has earmarked Rs 10 crore for encouraging startup in the state, he said.

"We offer venture capital at a grant. We give Rs 10 lakh for production and another Rs 10 lakh for marketing and give a stipend of Rs 10,000 every month for their living.This is how we support and this will be continued for next two years," Patel added.

Patel said Gujarat was looking for investors in aeropspacesector and he met officials of the Bharat Electronics Limited and UTC Aeropspace, a US-based company.

"We had a prolonged discussions with UTC and we would like to invite the American company to Gujarat. They can either join hands with the government or any dynamic industrialist. We are ready to provide infrastructure," he said.

Officials of NASSCOM, Prestige, Bosch, Amazon, Canara Bank, Vijaya Bank, Corporation Bank, Syndicate Bank and Brigade Group also met the visiting Minister.

Investment of USD 2 billion in Research and Development sector had been realised till 2015, and additional USD 3.2 billion committed by 2020 in this sector, Patel said. The roadshow saw "overwhelming" participation of more than 200 industrialists, investors, policymakers and startups from Karnataka, he said.

Gujarat government has organised roadshows in 25 countriesglobally to meet industry leaders and innovators who can offertheir expertise in sectors identified by the state government and partner the state in its growth story, he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 25 2016. 20:42 IST