Vibrant Gujarat Global Summit: MoUs envisaging Rs 1 lakh crore investments already signed

New Delhi: Ahead of the Vibrant Gujarat Global Summit, as many as 23 Memorandums of Understanding (MoUs) were signed between various business entities and the state government on Wednesday for proposed investments of Rs 1 lakh crore.

With these MoUs, 100 such agreements have been inked for potential investments of Rs 1.35 lakh crore in Gujarat ahead of the 10th edition of the biennial investor summit to be held from January 10 to 12 at Mahatma Mandir in Gandhinagar, said a state government release.

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It is expected that the 23 MoUs for the proposed investments of Rs 1 lakh crore will generate nearly 70,000 new employment opportunities, said the release.

Under the MoUs signed on Wednesday, 10,100 jobs will be created with an estimated investment of Rs 27,271 crore in port and related sectors, it said.
Besides, 5,500 jobs will be created in the power sector with an estimated investment of Rs 45,600 crore, while 2,000 employment opportunities will come up in mineral-based ventures with a projected investment of Rs 4,000 crore, said the release.

Engineering, auto and other industries will generate 8,150 jobs with an estimated investment of Rs 13,070 crore, it said.

Moreover, 34,650 jobs will be created with an estimated investment of Rs 4,469 crore in industrial parks, textiles and apparel, chemical and petrochemical sectors, nearly 8,200 jobs in the education sector (over Rs 3,100 crore investment) and 1,290 employment avenues in the agro and food processing sector (with proposed investment of Rs 3,500 crore), said the release.

The latest MoUs were signed in the presence of Gujarat Industries Minister Balwantsinh Rajput, Agriculture Minister Raghavji Patel and Minister of State for Industries Harsh Sanghvi.

The industries envisaged under these 23 agreements are expected to commence operations between 2025 and 2030. These units will be established at various places in Gujarat such as Amreli, Valsad, Hazira, Jamnagar, Kutch, Morbi, Rajkot, Surendranagar, Vadodara and Ahmedabad, said the release.

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