Union Home Minister Amit Shah addresses the closing ceremony of the Vibrant Gujarat World Summit 2024, in Gandhinagar on January 12. Photo credit: ANI
The 10th edition of the Vibrant Gujarat Global Summit concluded on January 12 with memorandums of understanding (MoUs) for 41,299 projects, with potential investment proposals worth โน26.33 lakh crore, signed during the mega event.
On the last day, Gujarat-based Torrent Group announced investments of Rs 47,350 crore in various projects, including around 4,500 MW of renewable energy, development of a solar park in north Gujarat, expansion of power distribution in Gujarat and establishment of hydrogen manufacturing facilities. in the state.
"In line with our strategic priorities and encouraged by our positive experience of working in Gujarat, I am pleased to share that Torrent Group has signed 4 MOUs during Vibrant Gujarat 2024, involving a total investment of Rs 47,350 crore," Sudhir Mehta, Chairman emeritus of the diversified Torrent Group, in his speech at the farewell session.
Gujarat Chief Minister Bhupendra Patel posted on social media platform GIFT city.
According to the Chief Minister, adding up the MoUs signed at the previous summit (scheduled for 2022 but postponed due to the COVID-19 pandemic), a total of 98,540 agreements with investment proposals worth over Rs 45 lakh were signed. crore. 2022 and 2024.
According to details recorded on the official investor facilitation portal (IFP), during the period between the conclusion of the ninth and tenth edition of the summit, memorandums of understanding were signed for a total of 98,540 projects with proposed investments of 45.20 one lakh crore.
Among the sectors with the highest number of investment proposals are urban development, minerals, chemicals, petrochemicals, livestock and fishing, energy, oil and gas, agricultural and food processing, textiles and clothing, according to the details available in the IFP.
Other sectors for which memorandums of understanding were signed between February 1, 2019 and January 12, 2024 (9th and 10th editions) include the environment, forests and climate change, rural development and urban housing, education, engineering and automobile, healthcare, pharmaceutical and tourism.
The summit, inaugurated by Prime Minister Narendra Modi on January 10, was attended by over 61,000 delegates from over 140 countries, Additional Chief Secretary of the Gujarat Industries and Mines department SJ Haider said during a presentation during the farewell ceremony.
UAE President Mohammed bin Zayed Al Nahyan was the chief guest at the inaugural event. He had joined Mr Modi for a tour from the airport to Gandhinagar, the state capital, on January 9.
The high-profile event also saw the participation of the presidents of three countries: Filipe Nyusi of Mozambique, Josรฉ Ramos-Horta of Timore-Leste and Petr Pavel of the Czech Republic. Also participating were the Deputy Prime Minister of Vietnam, Tran Luu Quang, and more than 40 delegations led by ministers from different countries, with a total of 35 countries and 16 international organizations associated with the event.
On the inaugural day, top business tycoons including Reliance's Mukesh Ambani, Gautam Adani of Adani conglomerate, Tata Group chairman N. Chandrasekaran and others announced investments in new projects and expansion of their operations in the state.
Additionally, Japanese automaker Suzuki Motors and UAE-based DP World also announced investments to set up a new automobile factory and a mega port terminal and logistics facility, respectively.
