Narendra Modi, Chief Minister of the Indian state of Gujarat, will be speaking at the Annual General Meeting (AGM) of the Confederation of Nepalese Industries (CNI) as the key-note speaker at a program scheduled for the last week of March.


The AGM is being organized with the theme of ‘Investment and Economic Transformation’ where Modi is expected to share his experience regarding economic growth.


According to CNI, the visit is being organized hoping to find a new way towards the country’s economic prosperity and change.


Modi is also scheduled to have talks with Nepali politicians and policymakers during his stay in Nepal.


Gujarat has become an investment destination for both foreign and domestic investors for some time now and is leaving all other Indian states behind in terms of economic prosperity. The western Indian state is the fastest growing economic state of India with a double digit economic growth rate.


So, at a time when Nepal is preparing for Nepal Investment Year 2012/13 and seeking to embark on the path of economic progress, the visit holds a much higher importance as there can be a lot of things to learn from Modi and Gujarat.


President of CNI and chairman of Chaudhary Group Binod Chaudhary, who has been playing a significant role in Nepal’s economic development, is the main personality behind this upcoming program. CNI has also been actively looking for new initiatives to bring the country’s economy on the right track.


According to Chaudhary, the sharing of experiences by Chief Minister Modi, the architect of modern Gujarat, on economic transformation would help sketch plans for economic development of the country and help concretize them for the future.


"The exchange and sharing of the experiences of Modi with our political leaders, bureaucrats, businessmen, industrialists and other authorities concerned will be encouraging and helpful in our effort to build a New Nepal," said Chaudhary.


Along with the Industrial development, Gujarat has also shined in terms of infrastructural development. In a 2011 report, The Economist noted that Gujarat's infrastructure competes with Guangdong of China.


So, the most important lesson to learn from Gujarat is the linkage between power supply, good development policy, political stability and economic growth. If you have the former three, then investments will pour in and economic prosperity can be attained.