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Ahmedabad Feb. 16 The two-day "Vibrant Gujarat Urban Summit 2007", organised with the objective of attracting investments in urban development sector, concluded here today with the Gujarat Chief Minister, Mr Narendra Modi, announcing that Memorandum of Understanding (MoUs) worth more than Rs 2.05 lakh crore have been signed during the event.

Last month, MoUs worth Rs 4.60 lakh crore had been signed during "Vibrant Gujarat Global Investors' Summit 2007" in different sectors. The two-day event that concluded today was exclusively focused on attracting investments in the urban development sector.

Major Investors

A total of 312 MoUs were signed today that included 106 in township development (Rs 80,995 crore), 143 in infrastructure development (Rs 1,14,481 crore) and commercial centres development (Rs 9,684 crore).

Among the major investors were the IL&FS and DLF groups (Rs 50,000 crore and Rs 30,000 crore, respectively), the Subhash Projects (Rs 5,000 crore) and Reliance Retail (Rs 900 crore).

Speaking on the occasion, the former Union Urban Development Secretary, Mr Anil Baijal, said the Centre would be spending $12 billion in the next five years under the Jawaharlal Nehru Urban Renewal Mission (JNURM) for upgradation of amenities in urban areas of the country. The private sector could invest in this sector to compensate for the projected deficit of $16 billion to $17 billion envisaged under this head.

Modernisation

Mr Modi, while recounting the steps undertaken by his Government for improving the quality of life, said Bhuj, devastated by the 2001 earthquake, was the only town in the world after London, devastated by the Nazi bombing in the Second World War, to recover and be rebuilt on its ruins with better urban planning.

Emphasising that India should undertake modernisation without westernisation, he asked the planners to mould their plans to suit the specific needs of Indian society and its culture, instead of aping the West.

More Stories on : Events | Urban Development | Investments | Gujarat

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