Mistry gets misty-eyed on Modi mantra

 In his first public briefing at the sixth Global Gujarat Summit, new chairman of the Tata Group, Cyrus Mistry on Saturday continued to echo his company’s staunch support of Gujarat Chief Minister Narendra Modi’s economic policies, reiterating the Tata Group’s commitment to the state.

Addressing a gathering on the second day of Vibrant Gujarat, Mistry like predecessor Ratan Tata, called Modi a ‘true partner of the Tata group’. This was a day after the who's who of the industry lavished praise on Modi and promised him more investments. The chief minister of Gujarat uses the biennial event to showcase his marketing savvy and drive investment into Gujarat.

Mistry said that the Modi government has succeeded in creating an enabling business environment and a culture of implementation.

"...It is important to recognise the infrastructure and enabling environment put in place by the Gujarat government," Mistry said.

"We at the Tata group has committed significant investments in the state of Gujarat. Our commitment to Gujarat goes beyond industrial activity," Mistry said.

Tata Power, Tata Power, Tata Motors and Tata Consultancy Services have investments in Gujarat.

Mistry said, "In Gujarat, we see a culture of implementation, reflecting the qualities of the chief minister...And our commitment in Gujarat goes beyond industrialisation and investment".

Mistry said he hopes to see continued certainty in policy implementation in the state under Chief Minister Narendra Modi.

Stating that the Tatas have improved the quality of lives wherever the group has invested, Mistry said, "We will continue to maintain with that strategy going forward as well".

"I believe we will continue to get the support from the state and the chief minister as a true partner," he said.

Ratan Tata, erstwhile chairman of Tata Sons, had said on the inaugural day on Friday that the Tata Group has committed to investing another Rs 34,000 crore in the state.

Meanwhile, Modi at the validictory function of Vibrant Gujarat, expressed satisfaction at the outcome of the summit. Officials sources said that 2,670 strategic partnerships were signed at this year's summit, nearly four times the amount seen in 2011.

India Inc has also signed 17,719 investment intentions, with a major chunk coming from small and medium enterprises (SMEs), up from 8,380 in 2011.