Investor friendly Gujarat woos American businesses

New York, July 10 (IANS) The Indian state of Gujarat has invited American investment, saying even in a turbulent global economic scenario and with a domestic slowdown in India, Gujarat continues to grow and remains an investor friendly state.

The message was delivered by a high powered government and business delegation from Gujarat led by D.J. Pandian, Principal Secretary, Department of Energy and Petrochemicals, during a roadshow here Monday.

The event to interact with the American business community was organized jointly by the Confederation of Indian Industry (CII) and the US India Business Council (USIBC).

The delegation of 18 industry leaders, representing sectors like financial services, oil and gas, pharmaceuticals, clean energy are accompanying Pandian and other Gujarat Government officials for a 10-day visit to the US and Canada.

Pandian spoke of the tremendous strides made by Gujarat in becoming an attractive investment destination with world class infrastructure, skilled labour force, and a stable and transparent bureaucratic, judicial and legal system.

He invited investors and industry representatives in New York to attend the Vibrant Gujarat 'investment festival' scheduled for January 11-13, 2013.

Pandian particularly attributed the singular success of Gujarat in attracting and retaining businesses from all over the world to a combination of political will and administrative skill.

He also highlighted the quest of Gujarat government to undertake sustainable development, especially through environmentally friendly development policies and a renewed focus on clean energy.

Clean energy technologies, waste management were stressed among areas where US companies have expertise and could be potential areas of investment and collaboration in Gujarat.

Pandian also expressed his belief that some of the central government's controversial policies would undergo changes in the near future.

He also emphasised that if the central government asked the states whether they would be open to multibrand retail, the state of Gujarat would respond very positively.

Bal Das, Executive Advisor, Aquiline Capital Partners LLC also spoke about the remarkable growth story of Gujarat, and referred to the state as the growth engine of India.