Central PSUs like NTPC, NHPC queue up to take part in Vibrant Gujarat

NEW DELHI: State-run energy majors are making a beeline for the upcoming Vibrant Gujarat summit, which they had cold-shouldered before Narendra Modi became the prime minister, while private sector energy giants such as Reliance Industries, Cairn India and Suzlon are top sponsors for the three-day event in the second week of January.

“The prime minister and key ministers from the Centre will attend Vibrant Gujarat summit for the first time and Indian corporate houses including PSUs are trying to put up their best show.

Following the promising feedback from large number of central PSUs, we have already earmarked space for them for trade exhibition,” said a Gujarat government official.

Vibrant Gujarat, as event Modi launched as the state’s chief minister in 2003, helped him earn the reputation of being a go-getter in promoting investments, boosting economic growth and creating jobs.This time the event has seven major sponsors, including four central government PSUs. Bank of Baroda, State Bank of India and Dena Bank are silver sponsors of the event while Indian Oil Corporation is a gold sponsor along with Suzlon. Cairn is diamond sponsor and Reliance Industries is platinum sponsor.

In January 2013, state firms such as ONGC, IOC, GAIL India, SBI and BoB and their top officials were conspicuously absent at Vibrant Gujarat summit in Gandhinagar.

Delhi Mumbai Industrial Corridor Development Corporation CEO and MD Amitabh Kant was perhaps the only representative from a central PSU to attend the event then.

Officials said last edition of the summit did not get desired support from the then UPAled government in Centre and its PSUs. Last week, officials of companies controlled by the power ministry, including NTPC, NHPC, SJVN, Rural Electrification Corporation and PTC India met to discuss possibilities of their participation in the summit and its six-day exhibition.

“For the first time, power ministry advised us to participate in the Vibrant Gujarat Summit,” said one of the officials who attend the media coordination committee meet held at NTPC headquarters.

“(Minister) Piyush Goyal has high regard for Gujarat where he visited to study model and reforms in power sector soon after taking over power ministry. With change in guard in the national capital, Gujarat will get prominence in our communication plans,” the person said.

Another official said his company engaged in hydro power business has no presence in Gujarat but it is considering leasing sizable stall in the exhibition.

State-run oil and gas firms ONGC, Oil India, GAIL India, IOC, BPCL and HPCL, who have their establishments in Gujarat, plan to participate prominently with presence of top brass, large exhibits and announcements of big ticket investments.

In his message to Gujarat government for its proposed summit, Modi wrote: “This is a matter of personal satisfaction as I have seen the evolution of this platform since its inception. It has transformed itself from an investment promotion exercise into a growth propelling event. Transcending state boundaries, the Summit has emerged as a significant national and international platform for sharing of knowledge, ideas and innovations.”