Global business summit kicks off in W.India

A three-day international investors ' summit, or the Vibrant Gujarat Summit, kicked off on Sunday in western Indian state of Gujarat, with Indian Prime Minister Narendra Modi inaugurating the opening ceremony.

UN Secretary General Ban Ki Moon, U.S. Secretary of State John Kerry and World Bank President Jim Yong Kim, among other distinguished figures, attended the summit.

Vibrant Gujarat Summit is a biennial global business summit organized by the government of Gujarat since 2003, when Modi was Chief Minister of the state.

Gujarat Chief Minister Anandiben Patel said the state has become a global business hub and everyone would benefit from the three-day summit.

As one of the Indian business leaders, the country's richest man, CEO of Reliance Industries Mukesh Ambani, said his group would invest 1 trillion Indian Rupees in 12 to 18 months across businesses in Gujarat.

Among foreign companies, Australian mining giant Rio Tinto's CEO Sam Walsh said the group would add 30,000 jobs in diamond cutting industry in Gujarat, adding that Australia is looking forward to the state as a promising business destination.

Singapore's Second Trade and Industry Minister S Iswaran said " Singapore companies have strong commercial interests in Gujarat", while British Trade and Development Minister Lord Livingston said they will open a new deputy High Commission in Gujarat in a few weeks.

UN Secretary General Ban Ki Moon lauded Indian government's efforts in using more renewable energy, while U.S. Secretary of State John Kerry said he is "highly inspired by Prime Minister Narendra Modi's slogan of 'Sabka Saath, Sabka Vikas'", which means together with all, development for all.

Speaking at the seventh edition of the Vibrant Gujarat Summit, Modi said there is a need to work for sustainable and inclusive growth, and fluctuations in the global economy is the biggest concern.

Modi said various countries are coming forward to work with India, and India also wants to work with global leadership on issues ranging from poverty to ecology.