Investment commitments worth nearly Rs 900,000 crore were inked at the fourth two-day Vibrant Gujarat Global Investors’ Summit, surpassing all previous records.
Investment promises during the summit in 2007 were Rs 4,61,835 crore, while in 2005 they were Rs 1,06,161 crore and Rs 66,068 crore in 2003.
Official sources at the summit told HT the total investment proposals this year may be close to the Rs 10-lakh-crore mark, by the time all the MoUs under discussion are signed.
Power sector emerged the top investment destination, with 31 MoUs signed. The proposals, worth Rs 2,04,395 crore, are primarily for setting up of generation units and transmission networks.
The alternate energy sectors, including solar power and wind power in coastal areas, have attracted investments worth Rs 1,02,922 crore.
Investors are ready to put in Rs 1,00,000 crore in the proposed Special Investment Region in Dholera, the port city 100 km south-west of Ahmedabad, the state’s commercial capital, while 17 MoUs signed would bring in Rs 77,248 crore for the
Special Economic Zones (SEZ) across Gujarat.
Development of ports attracted investments worth Rs 70,310 crore from 61 MoUs.
In the chemicals and petrochemicals sector, 45 MoUs have been signed for investments worth nearly Rs 50,000 crore. This, Gujarat Industries Minister Saurabh Patel said, will help create 15,000 more jobs.
Apart from the large industrial sectors, Chief Minster Narendra Modi’s stress on encouragement to Small and Medium Enterprises (SMEs) seem to have yielded results, with 7,200 MoUs worth Rs 68,000 crore signed.