A UK-BASED business magazine announced on Wednesday that it has decided to confer the Asia fDi award to the state of Gujarat instead of Chief Minister Narendra Modi, as his “alleged role in the (2002) riots is under investigation”.

“Following a review prompted by the ongoing investigations into the riots, fDi has decided to present its award to the state, rather than Narendra Modi, the state’s Chief Minister,” fDi magazine, published by business daily Financial Times, said in a statement.

The statement, however, did not mention as to whether the honour was initially announced for Modi.

The magazine said the award was in recognition of Gujarat’s ability to attract an outstanding volume of inward foreign investment.

“Gujarat increased that volume by more than 50 per cent over the past year for a total of 10.3 per cent of all foreign investment into India,” it said.

“Modi was the Chief Minister of Gujarat at the time of the riots. His alleged role in connection to the riots is under investigation, but he denies any responsibility,” added the statement.