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The Big Picture – Investment meets: Promises and outcomes

Summary:

Investment summits have become the buzzword for many of the states in the country.

Every year some of the summits have grown larger and larger.

The recent Gujarat summit is touted as the biggest ever with the chief minister claiming that 21000 MoUs have been signed worth Rs.25 lac crore along with 1205 strategic partnerships also being signed. In the past also several such MoUs have been signed in Gujarat.

Other states including Karnataka, MP, Tamilnadu, Westbengal have held or planning to hold similar summits this year.

One common criticism about these summits is that it promises more than it actually delivers. Outcomes do not really reach the promises made.

Its supporters feel that such summits help the states to showcase their strengths and attract investors and also allay some of their concerns and fears.

The rationale for holding these investment summits is not entirely a bad one.

These summits also create much hype and exaggerations.

Several people are saying that the Prime Minister should not have participated in the Gujarat summit.

These summits bring in lot of positive competition awareness in the whole arena.

The success of these summits depends on local infrastructure and administrative laws.

These summits also serve as the image building exercise for the present government.

Industrial promotion is good but competitive populism should be discouraged.

Some see it as a task of image building.

Investment summits also spur the competition among the states.