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Gujarat: State to cash in on ‘Vibrant Gujarat’ to attract investors, May 30, 2003
For the state government that is making attempts to lure entrepreneurs after communal riots, the "Vibrant Gujarat: Global Investors’ Summit 2003" in September is a bright ray of hope.

Gujarat sees dip in FDI flows
NDTV, Saturday, May 24, 2003
The economic effect of last year's communal riots in Gujarat are being felt with a dip in Foreign Direct Investment in the state over the past few months.

The Centre for Monitoring the Indian Economy (CMIE) in its April report has said that no FDI was made in Gujarat during September 2002 to March 2003.

The report also says that there is a decline in the intended investment in the state.

Foreign Exchange Of Hate- IDRF and the American Funding of Hindutva
AN EXCLUSIVE report that focuses on the US-based organization -- the India Development and Relief Fund (IDRF), which has systematically funded Hindutva operations in India.

IT giants plug funds to Sangh
Chetan Krishnaswamy, Times News Network, November 22, 2002

U.S. corporates funding hate?
By Anjali Mody, The Hindu, November 21, 2002

Indian economy hit by riots: US, October 29, 2002


Who does Gujarat belong to?
Communalism Combat, March-April 2002

'Social responsibilty also CII's business'
Neeraj Saxena, Times News Network April 30,2002

Useful Sites

The Interfaith Center on Corporate Responsibility

Business and Human Rights -- The Bottom Line
Commentary by Arvind Ganesan, Human Rights Watch
Corporate Social Responsibility

Indian corporates must come out in re-building Gujarat. The way we have done after the Bhuj earthquake. We can open community centres, (re)build burnt-down houses and educate children who have been orphaned. We at HDFC will certainly do our bit."
Deepak Parekh, chairman, HDFC. (Source: Communalism Combat, March-April 2002

  • Now, FGI’s turn to jump on Modi bandwagon
    Express New Service, February 26, 2003
    Vadodara, February 25: EVEN as the controversy triggered off by the confrontation between the Confederation of Indian Industries (CII) and some pro-Modi industrialists was yet to die down, Vadodara-based Federation for Gujarat Industries (FGI) on Tuesday jumped onto the pro-Modi bandwagon. It demanded that the CII apologise to the Chief Minister for, what it alleged were, irresponsible statements made by the CII members.

  • Top Gujarati industrialists rally behind Modi against CII
    IANS, February 23, 2003
    AHMEDABAD: With chief minister Narendra Modi still smarting from blunt questions asked on the security situation in violence-scarred Gujarat at an industry conclave, top Gujarati industrialists have begun rallying round their angry leader.

  • Gujarat Inc throws weight behind Modi, takes on CII
    Express News Service, February 21, 2003
    Ahmedabad, February 20: Gujarat Inc threw it’s weight behind CM Narendra Modi on Thursday. The differences between Modi and Confederation of Indian Industry (CII) took a twist when a group of industrialists met under the banner of Resurgent Group of Gujarat to warn ‘‘forces causing embarrassment to the state globally.’’ They expressed concern over efforts to create an ‘‘unrealistic and improper’’ image of Gujarat.

  • Modi brushes away corporates' flak
    Gandhinagar, February 15, 2003, Sify.Com
    Referring to the criticism levelled against him at a recent meeting of 130 industrialists in Mumbai, he said he maintained his poise and tolerated the "attack".

    In an official statement here, the Chief Minister said when industry captains like Rahul Bajaj and Godrej questioned the state's law-and-order at a Confederation of Indian Industry(CII) conference in New Delhi, from the dais, he could not tolerate the "insult and gave them a befitting reply".

  • Stained for life
    The Hindustan Times, February 7, 2003
    Narendra Modi’s outburst at a meeting organised by the Confederation of Indian Industries in New Delhi is understandable.

    Instead of hustling out someone who questioned Mr Modi’s role during the Gujarat riots, as during an earlier CII meeting in Mumbai, this time the big guns of Indian business themselves referred to that ‘unfortunate’ period. For Mr Modi, still gloating over his electoral triumph, a reference to those dark days came seemingly like a personal insult. What he could not understand was why the matter was being raked up a year after the event. What he probably fails to realise is that it is a subject that will haunt him for the rest of his life.

  • Modi rebuffed at CII meet
    By P.K. Bhardwaj, The Hindu, February 7, 2003
    NEW DELHI Feb. 6. Godhra continues to dog the Gujarat Chief Minister, Narendra Modi, wherever he goes. The issue was raised again today during an interactive session hosted by the Confederation of Indian Industries (CII). And as was to be expected, Mr. Modi hit out at his critics.

  • Big biz, low cunning
    By Praful Bidwai, The Hindustan Times, January 24, 2003
    One must congratulate Oxford-based historian and secular activist Jairus Banaji for courageously confronting Narendra Milosevic Modi with awkward, but pertinent and long-overdue questions at the huge ‘Gujarat Unlimited’ congregation of ‘business leaders’ organised for Modi’s benefit last Saturday in Mumbai by the Confederation of Indian Industry (CII).

  • Citizen's Conscience
    Today's Interview, The Times of India, , January 24, 2003
    Jairus Banaji, economic historian and author of a recent report on Indian corporate governance, recently created a stir at a meeting hosted by the Confederation of Indian Industries (CII). He spoke to Rajni Bakshi about the need for initiatives from the corporate sector to ensure good governance in India.

  • Group floated to promote US business in Gujarat
    PTI, October 10, 2002
    AHMEDABAD: Faced with unfavourable conditions for industrial growth during the post-Godhra phase, a business group was formally launched here on Thursday to "promote and protect US commercial interests" in Gujarat.

  • Gujarat to boost trade ties with US
    Regional Bureau, Business Standard, October 10, 2002
    Sureshchandra Mehta, state minister of industries, has launched the Group of American Businesses in Gujarat (GAB-Gujarat) here last week. GAB-Gujarat has been facilitated by the US Commercial Services (USCS), the commercial wing of the US Consulate in Mumbai.

  • Business Basics: Surat Stood Firm Against Violence
    Kingshuk Nag, The Times of India, October 08, 2002
    So when in the aftermath of Godhra, cities like Ahmedabad began to burn and violence erupted in Surat too, the local businessmen decided to strike back. Organised under the banner of the influential South Gujarat Chamber of Commerce and Industry (SGCCI), business decided proactively to collaborate with the police in maintaining law and order.

  • Terrorising the economy
    Peace and calm: essential ingredients for any kind of investment flows
    Editorial, The Indian Express, Ahmedabad, September 27, 2002

    Will the terrorist attack on the Akshardham Temple at Gandhinagar on Tuesday, and the resultant fear of communal tension getting fuelled, result in the Gujarat economy slowing down, and in investment pulling out of the state? Any prediction, clearly, is foolhardy, more so since this time around the chief minister appears to be taking care to ensure there are no post-Godhra type of incidents of mass communal violence in the state. It helps that this time around, the political leadership in Delhi has unambiguously reinforced this message.

  • Godhra incidents put us to shame: Pitroda
    Times News Network, September 21, 2002

    AHMEDABAD: What happened in Gujarat (Godhra and its aftermath) has put all of us to shame, and has hurt the state, said the chairman and CEO of WorldTel, Sam Pitroda, here on Friday.

  • No direct aid from corporates for Gujarat riot victims
    Raveen Thukral, Hindustan Times, June 13, 2002
    (Ahmedabad, June 12) Are the business and corporate houses of Gujarat wary of the Modi government and the right wing Hindu organisations? Why then is the state, known for its affluence and bordered by the country's financial capital Mumbai, unable to raise money for the riot-affected victims?

    Industrialists admit on the condition of anonymity that they are apprehensive of contributing openly for the rehabilitation work.

  • Is secularism good for business?
    Cyrus Guzder, Seminar, # 513, May 2002, Society Under Siege a symposium on the breakdown of civil society in Gujarat

    I MAY be excused for apparently exceeding my brief by directly addressing the causes and consequences of the current civil disturbances in Gujarat. However, I propose to break with our customary practice of being politically correct in the belief that I am still being faithful to the CII’s outlook to business life which is modern, liberal, tolerant and caring of people.

  • The Indian Business Elite and the Illogic of Collective Silence
    The Economic Times, May 07,Guest Column / Ashok Deo Bardhan

    THE communal carnage in Gujarat has been met with a deafening silence on the part of the business leaders of the state. Notable exceptions apart, the Indian business elite at large has also chosen to keep mum.

  • Foreign investors’ perception good
    May 17, 2002, Times News Network

    Gujarat violence and insurgency in Kashmir has not clouded foreign investors’ perception about India, feels head of global research for Standard Chartered, Gerard Lyons.

  • Gujarat violence will not affect FDI: Soota
    PTI, May 13, 2002

    KOCHI: CII President Ashok Soota on Monday said the continuing violence in Gujarat would not affect foreign direct investment. However, if there was no improvement in the situation, Gujarat would lose the most favourable state status among potential investors, he told a press conference. He said the estimated losses due to the violence in Gujarat was about Rs 800 crore.

  • Gujarat not to have any effect on long-term: FM
    PTI, May 13, 2002

    SHANGHAI: Though the gujarat violence will have a “marginal impact” on the Indian economy and no effect at all on the inflow of FDI, Finance Minister Yashwant Sinha said the growth rate for 2002-03 fiscal will be over six per cent. “There will be some marginal impact because of the disturbances which have taken place.

  • CII gaining political colour: BJP
    Times News Network, May 11, 2002

    NEW DELHI: The BJP’s honeymoon with the CII appears to be over. In a strong attack on the CII, the BJP on Friday said the business club has become a forum for BJP-bashing. “CII is mainly for the interest of industry, but certain members of the CII have sought to give it a political colour. We don’t approve of it,” party spokesman V K Malhotra told reporters.

  • No one rides to Gujarat in riot season
    Bhavna Vij, The Indian Express, May 09, 2002
    New Delhi, May 8: Gujarat Chief Minister Narendra Modi may not like it but tourists and businessmen — both domestic and international — seem to be shunning his state, going by the passenger records of the railways and airlines.

  • India Inc Optimistic On Rejuvenation In Gujarat, Shows Ficci Survey
    Financial Express, 09 May 2002

    Communal violence in Gujarat seems to have had a little impact on the confidence of India Inc. In fact, the industry is looking forward to an economic rejuvenation over the next six months.

  • Gujarat strife hits tourism
    IANS, May 9, 2002

    NEW DELHI: Lingering sectarian strife in Gujarat has cast a shadow on India's tourism sector, which is yet to recover from the tailspin it went into post-September 11, industry sources say. Foreign tourist traffic to India in the first four months of 2002 dipped 15 per cent to 832,535 from 980,359 during last year.

  • Foreign investors feel India politically stable
    The Economic Times, May 07,Guest Column / Ashok Deo Bardhan

    THE communal carnage in Gujarat has been met with a deafening silence on the part of the business leaders of the state. Notable exceptions apart, the Indian business elite at large has also chosen to keep mum.

  • Sabeer Bhatia Blows Hot On Gujarat Carnage
    eFE Bureau, 03 May 2002

    The IT honchos’ fears about the escalating violence in Gujarat is increasing by the day. First, Mr Narayana Murthy of Infosys and then Mr Azim Premji of Wipro voiced their concerns about the continuing communal violence in Gujarat.

    On Thursday, Sabeer Bhatia, the man who pioneered the free web-based e-mail service Hotmail, voiced dissatisfaction on the Gujarat violence.

  • CII lobbies for ending violence in Gujarat
    IANS, May 3, 2002

    BANGALORE: The Confederation of Indian Industry has called for an immediate end to the dragging sectarian fury in Gujarat, saying lingering violence could affect investment in the country’s most industrialised state. “It is too early to say about the impact on Gujarat per se. But the situation has to be brought under control as soon as possible for it to be dismissed as a passing phase.

  • 'Riots have hurt India's image abroad'
    May 1, 2002, Neeraj Saxena, Times News Network

    " There is no argument: what has been happening in Gujarat has affected India's image outside. One can't get away from that fact. Assuming that the situation will be okay in a week or two — India has much better resilience to pull the situation back to normal -whatever demand lost `notionally' in the past 6-8 weeks can be made up.

    However, if the violence continues longer, it will have long-term serious impact on FDI inflows. Gujarat's state industry minister said on Saturday that General Motors had decided to go ahead with its investment in spite of violence. But GM took four years to make up their mind. They are not going to change within a few weeks." From an interview with Neeraj Saxena, the new CII president.

  • 'Social responsibilty also CII's business'
    Neeraj Saxena, Times News Network April 30, 2002

    "Business never wants to get involved with politics.But the business of business is not just business. Certainly, social responsibility is also our business. When Gujarat situation started to drift beyond a point, we decided to take a call. It is a human tragedy and if it goes on, you are bound to see serious business implications." In an exclusive interview with Neeraj Saxena, the new CII president Ashok Soota discussed as to why India Inc chose Gujarat as its main agenda bypassing hardcore busines and policy issues.

  • Body-blow to Gujarat business
    By Raju Bist, Asia Times, April 23, 2002

    More than Rs20 billion (US$409 million) have been lost due to the riots. Already, insurance claims worth Rs1.5 million have trickled in from 150 business units, and insurance companies have stopped underwriting new policies.