Modi prescribes formula to beat economic meltdown

January 12th, 2009 - 8:51 pm ICT by IANS  

Narendra ModiAhmedabad, Jan 12 (IANS) Inaugurating the fourth Vibrant Gujarat investors’ summit, Chief Minister Narendra Modi Monday suggested to the business community his formula of “lower risk, alertness, low cost and high efficiency” to turn the global economic crisis into an opportunity.”Lower risk, alertness, low cost and high efficiency can really work wonders. I believe that the RACE formula can convert the global economic crisis into an opportunity,” Modi said in his speech at the inauguration of the two-day event here.

Modi said the annual event, now in its fourth edition, had carved out a niche for itself in India and abroad.

Those present on the occasion included leading corporates, industry tycoons, business wizards and leading personalities from public life from all across the world.

They included Kenyan Prime Minister Raila Odinga, Partner Country Japan’s consul general Hirotsugu Hagiuda, Japanese ambassador to India Hideaki Domichi and the business delegations from 37 countries.

“Japan has come forward as a partner country to Gujarat on the basis of the state’s reputation, strength and credibility. The Delhi-Mumbai Freight Corridor (being developed with japanese support) has opened up avenues of development for the state,” Modi said.

“With Special Economic Zones (SEZs) across the state’s 1,600-km coastline, Special Investors Regions (SIRs) and optimum logistic support system projects, Gujarat is now the gateway to development and excellence,” he added.

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