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Record 30,000 MoUs likely to be inked at Vibrant Gujarat Summit this year
The state government has decided to segregate ‘big ticket’ MoUs that would fetch huge investments or generate enormous employment
Updated : Jan 10, 2019, 05:40 AM IST
 "Vibrant Gujarat Summit")
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This edition of the Vibrant Gujarat Summit (VGS) may break the record of number of Memorandums of Understanding (MoUs) signed between the state government and investors. The 2019 chapter of the VGS, to be held on January 18-20, may touch the mark of 30,000 MoUs, said sources.
Government sources said, “The government has received around 25,000 investment proposals and the proposals will be accepted until the last day of the VGS. It will continue to accept new proposals after the event too, and the number of MoUs to be signed this VGS may cross 30,000.”
“The greatest response has been observed from the MSME sector as always and there are around 17,000 MoUs from the same. The urban development, financial services and renewable energy sectors got the best response after MSME,” sources said.
The state government has decided to segregate ‘big ticket’ MoUs that would fetch huge investments or generate enormous employment. The government is also keeping special focus on new technology and start-ups and is expecting massive interest in the form of proposals for investments.
A senior official in the Gujarat government said, “The government has decided to start implementation of projects within a period of a month after the VGS. We are trying such that investments worth Rs 1 lakh crore should go for implementation and projects should start, out of all the MoUs signed during VGS.”
The journey of VGS began with 76 MoUs worth Rs 66,068 crore signed at the first edition of the event held in 2003, which went up to 21,304 MoUs in 2015 with proposed investments of Rs 25 lakh crore as per claims presented by then CM Anandiben Patel. At the 2017 edition of the summit, 25,578 agreements were signed.
In 2017, 5,938 MoUs were signed in different sectors besides 18,533 in the MSME sector and 1,107 MoUs of strategic partnerships. As many as 1,625 MoUs were signed in the urban development sector and 52 MoUs worth nearly Rs 4,000 crore were signed in the financial sector.
