147 MoUs worth over Rs 2 trn signed so far at Vibrant Gujarat Summit

Leading up to the Vibrant Gujarat Global Summit 2024 scheduled for January 2024, as many as 147 MoUs have been signed, projecting potential investments worth Rs 2.91 lakh crore in the initial phase.

Under the guidance of Gujarat Chief Minister Bhupendra Patel, 47 MoUs have been inked in a single day, showcasing a potential investment of Rs 1.56 lakh crore on Wednesday, which is expected to generate over 7.59 lakh employment opportunities.

The state government has been proactively engaging in a weekly series of Memorandums of Understanding (MoUs) with various industries.

MoUs encompassed various sectors, including engineering, auto industries, mineral-based projects, industrial parks, textiles and apparel, education, health, and agro and food processing.

In the ongoing 14th round, 100 MoUs have been signed, representing a potential investment of Rs 1.35 lakh crore. Continuing this momentum, the 15th round witnessed the signing of 47 MoUs, projecting potential investments exceeding Rs 1.56 lakh crore. This development brings the total number of MoUs to 147, with potential investments surpassing Rs 2.91 lakh crore.

Under the Memorandum of Understanding (MoU) inked today, an estimated investment of Rs 50,450 crore is anticipated to generate 9710 jobs across diverse sectors. This includes the establishment of industrial parks and investments in the textile and apparel sectors amounting to approximately Rs 2,900 crore, resulting in the creation of 1.52 lakh jobs.

In the financial services sector, an investment of Rs 50,500 crore is expected to yield 5.50 lakh jobs. Mineral-based projects, with an estimated investment of Rs 9,645 crore, are projected to create 2,895 jobs.

The science and technology sector, with an investment exceeding Rs 22,824 crore, is anticipated to generate 41,430 jobs. Additionally, an investment of Rs 11,022 crore in the healthcare and pharmaceutical sectors will lead to the creation of 6,200 jobs. In the agriculture and food processing sector, an investment of Rs 800 crore is expected to generate 800 jobs.

The industries covered by the MoU are anticipated to commence operations between 2023 and 2028.

These industries will be strategically located in various districts, including Kutch, Bharuch, Kheda, Ahmedabad, Mehsana, Amreli, Vadodara, Surat, Panchmahal, Sabarkantha, Gandhinagar, Dang, Navsari, and Rajkot.

Concerning the Memorandums of Understanding (MOUs), the presence of the state's Chief Secretary, Raj Kumar, along with the Additional Chief Secretary of the Industries Department, SJ Haider, alongside other senior officials and industrialists, marked the signing ceremony.

Key officials, including Finance Minister Kanubhai Desai, Health Minister Rushikesh Patel, Industries Minister Balwantsinh Rajput, Agriculture Minister Raghavji Patel, and Tourism Minister Mulubhai Bera, also graced the occasion with their presence.