Vibrant Gujarat Summit attracts investments worth Rs 26.33 lakh crore

The 10th edition of the Vibrant Gujarat Global Summit ended with the signing of Memorandums of Understanding (MoUs) for a whopping 41,299 projects, featuring investment proposals totalling Rs 26.33 lakh crore, as revealed by Chief Minister Bhupendra Patel. The three-day mega event witnessed enthusiastic participation from more than 61,000 delegates representing over 140 countries.

Highlighting the cumulative impact, Patel shared that if the MoUs from the postponed 2022 summit, affected by the COVID-19 pandemic, were considered, the total agreements reached 98,540, with investment proposals exceeding Rs 45 lakh crore. Official records on the investor facilitation portal (IFP) documented MoUs for 98,540 projects, indicating an investment intention of Rs 45.20 lakh crore.

These encompassed 21,536 large sector proposals with a commitment of Rs 43.24 lakh crore and 77,004 pacts projecting capital infusion of Rs 19.58 lakh crore. Key sectors attracting substantial investment proposals included urban development, minerals, chemicals, petrochemicals, animal husbandry, fishing, power, oil & gas, agro and food processing, textile, and apparels.

Additional sectors covered by the MoUs, signed between February 1, 2019, and January 12, 2024 (spanning the 9th and 10th editions), comprised environment, forest and climate change, rural development, urban housing, education, engineering, auto, healthcare, pharmaceuticals, and tourism.

Inaugurated by Prime Minister Narendra Modi on January 10, the summit witnessed a prominent gathering, with over 61,000 delegates representing 140 countries. UAE President Mohammed bin Zayed Al Nahyan served as the chief guest, while Presidents from Mozambique, Timore-Leste, and the Czech Republic, along with Deputy Prime Minister of Vietnam and minister-led delegations from over 40 countries, added to the international participation.

Union Home Minister Amit Shah concluded the summit with his remarks during the valedictory ceremony. The significant investment commitments underscored the event's success in fostering economic partnerships and showcasing Gujarat as a preferred destination for global investments.

(With PTI inputs)