Over 28,300 MoUs signed, Vibrant Gujarat Summit ends on a new high

Curtains came down on the ninth edition of the Vibrant Gujarat Summit, with the signing of a record-breaking 28,360 Memorandum of Understandings. However, for the second straight year, the government did not disclose the size of the proposed investments.

Almost 3,000 more MoUs were signed during the three-day summit as compared to the previous year, when 25,578 MoUs were executed.

Vice-president M Venkaiah Naidu, who began his address in Gujarati, lauded the entrepreneurial spirit and trading skills of Gujaratis, and said the state had emerged as a shining example of inclusive progress and prosperity.

"Through this important summit, the message of India's readiness for enhancing bilateral trade, business and investment has become known around the world," he said.

Deputy CM Nitin Patel said the summit had attracted record participation from 135 countries, and had helped in attracting large investments to the state.

He, however, declined to reveal the size of the investments proposed in the MoUs.

"The size of the investment proposed is not important. It is more important that investments are happening in Gujarat and jobs are being created for our youth," Patel told reporters after the summit.

Chief Minister Vijay Rupani said the Vibrant Gujarat Summit 2019 has not only resulted in a new branding for Gujarat, but also in the state's bonding with the world. "The summit has become a global platform for ease of doing business. The summits have made Gujarat the gateway to the world," he said, announcing that the 10th edition of the summit would take place in January 2021.

Of the 28,360 MoUs, 21,889 were signed in the MSME sector. On the last day of the summit, MoUs proposing investment of more than Rs1 lakh crore, were signed in the renewable energy space.