147 MoUs, with potential investments Of Rs2.91 Tn, signed Under VGGS 2024

A total of 47 MoUs were concluded in a single day In the run up to the Vibrant Gujarat Global Summit 2024

As a part of the VGGS-2024, with the guidance of Chief Minister, a total of 47 MoUs were concluded in a single day

FinTech BizNews Service

Mumbai, December 25, 2023: In the run up to the Vibrant Gujarat Global Summit-2024, scheduled for January 2024, under the visionary leadership of Prime Minister Narendra Modi, and the guidance of CM Bhupendra Patel, 47 MoUs have been inked in a single day, showcasing a potential investment of Rs1.56 lakh crore. This surge in agreements is expected to generate over 7.59 lakh employment opportunities.

The state government has been proactively engaging in a weekly series of Memorandum of Understanding (MoUs) with various industries. In the ongoing 14th round, 100 MoUs have been signed, representing a potential investment of INR 1.35 lakh crores. Continuing this momentum, the 15th round witnessed the signing of 47 MoUs, projecting potential investments exceeding INR 1.56 lakh crores. This development brings the total number of MoUs to 147, with potential investments surpassing INR 2.91 lakh crores.

Under the Memorandum of Understanding (MoU) inked today, an estimated investment of INR 50,450 crores is anticipated to generate 9710 jobs across diverse sectors. This includes the establishment of industrial parks and investments in textiles and apparel sectors amounting to approximately INR 2,900 crores, resulting in the creation of 1.52 lakh jobs. In the financial services sector, an investment of INR 50,500 crores is expected to yield 5.50 lakh jobs. Mineral-based projects, with an estimated investment of INR 9,645 crores, are projected to create 2,895 jobs. The science and technology sector, with an investment exceeding INR 22,824 crores, is anticipated to generate 41,430 jobs. Additionally, an investment of INR 11,022 crores 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 INR 800 crores is expected to generate 800 jobs.

The industries covered by the MoU, signed in the presence of esteemed dignitaries such as Finance Minister  Kanubhai Desai, Health Minister  Rishikesh Patel, Industries Minister  Balwantsinh Rajput, Agriculture Minister  Raghavji Patel, and Tourism Minister  Mulubhai Bhera, 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,  S. J. Haider, alongside other senior officials and industrialists, marked the signing ceremony.

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