Gandhinagar (Gujarat), Jan.11 (ANI): Recently retired Tata Group Chairman Ratan Tata was on Friday given a resounding applause at the sixth edition of the two-day Vibrant Gujarat Summit-2013 being held here, when he again mentioned his famous quote: "One would be stupid to not be in Gujarat."
Having brought the Tata Group to Gujarat nearly five years ago through the Nano car passenger project, Ratan Tata said today that the group has already invested or committed Rs.34,000 crore in the state.
He also said that Gujarat stands out better than other states in India and the credit for that he added goes to its Chief Minister Narendra Modi.
He said the state has become vibrant, attractive and new investment destination.
Reliance Industries Chairman Mukesh Ambani also lavished rich praise on Modi.
He said: "In Narendra Bhai, we have a leader with a grand vision."
Ambani also announced a Rs. 500-crore university that will be set up in collaboration with the Gujarat Government.
His younger brother, Anil, described Modi as "a king among kings."
He further added: "Narendra Bhai has the Arjuna-like clarity of vision and purpose."
He said Modi's skills have "acted as a huge magnet for investors and entrepreneurs from India and across the world in the past decade."
The Vibrant Gujarat Summit (VGS) 2013 is being held at Mahatma Mandir in Gandhinagar.
Around 50,000 delegates from India and 1,800 others from 105 countries are said to be participating in it.
There will also be meetings between businesses and government representatives on Sunday.
However, according to sources, Modi and India Inc. are unlikely to make major investment proposals during the summit.
Since the last summit, the state government has shifted focus from inviting investment commitments to forging knowledge-based strategic partnerships.
Since 2011, Modi has said that the government has started emphasising the need for youth development, increasing of skills and creating job opportunities, creating more women entrepreneurs and giving a boost to sunrise sectors such as green energy.
In the seven years through March 2011, Gujarat's economy grew at an annual rate of 10.08 per cent at constant prices, against 6.45 per cent in the eight years through March 2002. (ANI with inputs)