Variety

Gujarat draws big ticket investments

Virendra Pandit | Updated on March 23, 2011

Gujarat is preparing to absorb large investments in the coming decade, having signed 7,936 MoUs with big business houses and MNCs involving investments of Rs 20,83,000 crore.



With the Fifth Vibrant Gujarat Global Investors' Summit 2011 witnessing big business leaders signing 7,936 MoUs with the State Government, committing investments to the tune of Rs 20,83,000 crore, Gujarat is preparing to absorb large investments in the coming decade. Almost 55 per cent of these investments would be in the SME sector alone, which could potentially create 52 lakh jobs. In the 2009 event, MoUs worth Rs 12 lakh crore had been signed.

“ I do not dream, I sow dreams”, Chief Minister Mr Narendra Modi had said at the valedictory function of the Vibrant Gujarat 2011 on January 13, 2011, adding that more than 400 MoUs were signed for the youth-centric projects focused at the next generation.

Mission Mangal

Mr Modi said the event aims to inspire the rich to think for the poor. Altogether 34 multinational corporations (MNCs) and India Inc signed 57 memorandum of understanding (MoUs) committing Rs 20,000 crore as part of their corporate social responsibility (CSR) activity. This envisages training, sharing of work and helping market products from 15 lakh women from the BPL families under the State's welfare programme known as “Mission Mangal”.

These women had already been organised in two lakh groups. This is expected to go a long way in empowering them and ridding them of poverty.

Investments

Mr Gautam Adani, Chairman of Adani Group, said his company , having committed investments of Rs 80,000 crore, will create centres of excellence for the underprivileged children and set up vocational schools for them across Gujarat, starting with Kutch.

More than 30 projects were among those for which the Gujarat-based companies committed to set up shop abroad. The Essar Group committed investments of about Rs 12,000 crore in the port sector at Hazira and Salaya and for a water desalination project at Jamnagar.

Among the major investments promised were Rs 2.26 lakh crore in urban infrastructure development, Rs 33,800 crore in water resources development, Rs 26,000 crore in healthcare and pharmaceutical sector, Rs 21,000 crore for 10 projects of desalination of water, Rs 12,000 crore in financial services, Rs 5,200 crore for construction of houses for industrial labour and Rs 5,000 crore for the L&T's monorail project at Ahmedabad

During the summit, 650 delegates from 43 countries had a one-on-one interaction with the Chief Minister.

While 47 countries participated in 2009, 101 countries, with 1,400 delegates, came to the event this year. Nearly 350 speakers participated in various sectoral seminars with 3,500 delegates. In addition, 14 events were held by foreign countries.

Vibrant Gujarat 2011 also witnessed 33 knowledge-based events in which 479 institutions tied up for knowledge-sharing and capacity-building.

In all, 470 MoUs were signed in social sector, as against 47 in 2009.

Published on March 23, 2011

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