Gujarat

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In fact, companies like Reliance Infrastructure Ltd., Zydus Infrastructure Pvt. Ltd. and Suzlon Infrastructure Ltd et al are investing hugely in SEZ’s in Gujarat. All credit goes to the government’s investor friendly approach which gives them an ideal atmosphere to invest. As Sudhir Mehta, Chairman, Torrent Group exclaims, “Gujarat is a very good investment destination because of forward looking policies, well develop infrastructure & congenial labour relations.”

Certainly all this has made Gujarat a home to some of the most successful home grown companies which include Gujarat Ambuja Cement, Vadilal, Nirma and Amul et al. But then why Gujarat? “The competition in Gujarat is not intense. Therefore we believe in a fast and steady growth,” a spokesperson from the world’s largest detergent powder maker, Nirma tells 4Ps B&M. And this corporate philosophy stands true for all companies as the state has undergone a slow but consistent transformation that is being realised in the modern infrastructure of the state. Even many small companies like Balaji Wafers, Ramdev Spices and Texaco synthetics are making a mark in the state. Surely entrepreneurship is in the soil.

It’s the state Industrial Policy which facilitates development of small, medium and large-scale industries. Such is the lure that biggies like Tata Teleservices are investing over Rs.1.65 billion on expansion. Even Kishore Biyani’s Flagship brand Big Bazaar plans to invest Rs.5 billion in Gujarat. Further, the world’s second largest producer of gold jewellery seems slowly turning into a major biotech hub. Pharma majors like Zydus Healthcare are investing heavily on biotech in the state. So, what lures bigwigs to enter the Gujarat arena? “It’s the place of choice for investors because of its development orientation, good law and order situation and an investor friendly approach,” answers Prasad R. Menon, MD, Tata Chemicals. The real estate sector in the state is also a fleshy meat to grab on. India’s largest real estate developer DLF who is heavily investing in infrastructure of the state is among many to go gung ho over it. “We invest where the infrastructure is good. Legal hurdles like approval, sanctions are less in Gujarat and the atmospheres is conducive. It is one state which is definitely on our radar,” a spokesperson from DLF tells 4Ps B&M.

Lapping up one milestone after another, Gujarat has earned the fair credit of world’s largest hub for diamond processing. However, not resting on this, the state has also become a ubiquitous destination for almost every other expatriate of any book value. Applaud the state for its gusto and you will be told very modestly that they are just getting started. They also whisper about the next Global investor’s summit in 2009…. phew!

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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