Gujarat govt inks 47 more MoUs for proposed investment of Rs. 1.56 lakh crore

Gandhinagar: The Gujarat government today said it has signed 47 MoUs today with various business houses for Rs. 1.56 lakh crore worth of proposed investments today, which may result in the creation of 7.59 lakh new employment opportunities. The government said the projects that are in Engineering, auto, industrial park, textile, financial services, minerals, science and technology, healthcare, pharma, agro and food processing sectors will be operational between 2023-2028 in Kutch, Bharuch, Kheda, Ahmedabad, Mahesana, AMreli, Vadodara, Surat, Panchmahal, Sannad, Gandhinagar, Dang, Navsari, Rajkot etc districts.

As a part of, the Vibrant Gujarat Global Summit-2024, with Chief Minister Shri Bhupendra Patel in attendance, 47 MoUs were concluded, in a single day, reflecting a potential investment of Rs 1.56 lakh crore and the creation of 7.59 lakh potential employment opportunities.

MoUs encompassed various sectors, including engineering, auto industries, mineral-based projects, industrial parks, textiles and apparel, education, health, and agro and food processing.

In the initial phase of the Vibrant Gujarat Global Summit-2024, a total of 147 MoUs have been signed, projecting potential investments worth Rs. 2.91 lakh crore.

Key officials, including Finance Minister Shri Kanubhai Desai, Health Minister Shri Rushikesh Patel, Industries Minister Shri Balwantsinh Rajput, Agriculture Minister Shri Raghavji Patel, and Tourism Minister Shri Mulubhai Bera, graced the occasion with their presence.

Gandhinagar, 20 December 2023: Leading up to the Vibrant Gujarat Global Summit-2024 scheduled for January 2024, and under the visionary leadership of Prime Minister Shri Narendra Modi, and the guidance of CM shri Bhupendra Patel, 47 MoUs have been inked in a single day, showcasing a potential investment of Rs 1.56 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 Shri Kanubhai Desai, Health Minister Shri Rishikesh Patel, Industries Minister Shri Balwantsinh Rajput, Agriculture Minister Shri Raghavji Patel, and Tourism Minister Shri 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, Shri Raj Kumar, along with the Additional Chief Secretary of the Industries Department, Shri S. J. Haider, alongside other senior officials and industrialists, marked the signing ceremony.