Gujarat Vibrant Summit: Rs 10 Lakh Crore Investments, 13 Lakh Jobs
Jan 03, 2024 20:52
Gujarat government signs 234 MoUs ahead of Vibrant Summit, attracting over Rs 10 lakh crore investments and creating 13 lakh job opportunities.
Photograph: ANI Photo
Ahmedabad, Jan 3 (PTI) Ahead of the 10th edition of Vibrant Gujarat Global Summit, the state government said it has signed a total of 234 Memorandums of Understanding (MoUs), 58 of them on Wednesday, proposing cumulative investments of more than Rs 10.31 lakh crore in various sectors with a potential to generate around 13 lakh employment opportunities.
At an event in Gandhinagar on Wednesday, the state government inked 58 more MoUs with companies expressing intention to invest Rs 7.12 lakh crore with a potential to generate 3.70 lakh employment opportunities in various sectors in Gujarat, an official statement said.
With this, the total investments committed through MoUs signed at 17 such pre-Vibrant Gujarat Global Summit events have exceeded Rs 10.31 lakh crore, it said.
Chief Minister Bhupendra Patel, who was present at the 17th weekly MoU signing event in the state capital organised by the government, called it a "proud moment".
The 10th Vibrant Gujarat Global Summit (VGGS) will be organised in Gandhinagar from January 10 to 12.
Among the 58 MoUs, several were signed by central PSUs such as National Thermal Power Corporation, Power Finance Corporation, Power Grid Corporation, ONGC, HPCL, IOCL, and state government enterprises like Gujarat Industries Power Company and Gujarat State Electricity Corporation, said the statement.
Apart from these firms, many private enterprises also signed MoUs for investments in various sectors in Gujarat, the government said.
Among the 58 MoUs inked on Wednesday, 17 expressed investment intentions of more than Rs 10,000 crore, 21 for commitment of less than Rs 2,000 crore, 12 for investments between Rs 5,000 crore-Rs 2,000 crore and eight for Rs 5,000 to 10,000 crore, said the statement.
In a novel approach, the state government launched an initiative of signing MoUs with various corporates and industrial houses in the presence of the chief minister and other members of his cabinet every Wednesday in Gandhinagar as a prelude to the VGGS 2024.
"So far, a total of 234 MoUs have been signed with potential investments of more than Rs 10,31,250 crore and creation of more than 12,89,078 employment opportunities," said the government.
The companies with which investment agreements have been signed are from sectors as diverse as electric vehicles, agro and food processing, automobiles, biotechnology, cement, chemicals and petrochemicals, ports, education, engineering, healthcare and pharmaceuticals, industrial parks, IT-ITES, logistics, oil and gas, packaging, plastics, power, green hydrogen and renewable energy, it said.
Addressing the event, CM Patel said it was a proud moment for Gujarat as MoUs with potential investments of more than Rs 7 lakh crore were signed in a single day.
He said Prime Minister Narendra Modi started the investor summit in 2003 during his tenure as chief minister with an aim to make Gujarat a leader in trade and industries on the global map.
Due to the biennial summit, Gujarat has become a preferred investment destination for domestic and foreign investors over the years, he said.
Patel invited industrialists and investors to join the 10th edition of the summit and said the state would realise PM Modi's vision to make India a developed nation by 2047 by building a developed Gujarat.
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