rajkot updates news during the sixth phase of vibrant gujarat summit 135 mous were signed . The summit this year, which took place from January 11 to 13, 2023, was a huge success. At the summit, various national and international businesses and the Gujarat government signed 135 Memorandums of Understanding (MOUs). Numerous companies, including producing goods, infrastructure, tourism, and energy, have reached MOUs. Gujarat has promoted its advantages, business opportunities, and potential through the Vibrant Gujarat Summit. This article will summarize the summit’s sixth session and the MOUs signed there.
Overview of the Vibrant Gujarat Summit’s sixth phase
The Vibrant Gujarat Summit is a biennial event that the Gujarati government started in 2003 to encourage domestic and foreign investment. The summit allows the state government to demonstrate its strengths, business-friendly laws, and investment prospects to investors from India and worldwide. The Honorable Prime Minister of India, Shri Narendra Modi, formally started the sixth phase of the Vibrant Gujarat Summit in Rajkot, the fourth-largest city in Gujarat. The theme of the sixth version of the Vibrant Gujarat Summit is “Gujarat: Constructing a Resilient Future.” This topic highlights sustainable growth and Gujarat’s initiatives to advance the economy while safeguarding the environment. Over 5,000 people from more than 100 countries attended the conference, including numerous ministers, politicians, and CEOs.
Signed MOUs at the summit:
rajkot updates news during the sixth phase of vibrant gujarat summit 135 mous were signed . According to these MOUs, Gujarat will receive investments of INR 10,000 crore, or almost USD 1.3 billion. The MOUs have received approval from several sectors, including:
The engineering textile and car industries have made many Memorandums of Understanding (MOUs) in the industrial sector. Mahindra & Mahindra Ltd. and the state have signed a memorandum of understanding (MOU) for an investment of 500 crores INR (about 68 million USD) to construct an electric vehicle manufacturing facility. Other businesses in the manufacturing industry with MOUs are TATA Motors, Ford India, Adani Wilmar Ltd., and JK Paper Ltd.
Moreover, the building industry, encompassing ports, airports, and railroads, has actively participated in signing MOUs. A notable agreement is the MOU between Adani Ports and Special Economic Zone Ltd., which entails an investment of INR 2,000 crore (approximately USD 273 million) for constructing and operating a container terminal at the Port of Mundra. Additionally, the construction industry has witnessed the signing of MOUs by prominent businesses such as GVK Power & Infrastructure Ltd., Bharat Forge Ltd., and IRCON International Ltd.
Furthermore, the hotel, healthcare, and entertainment industries have struck memorandums of understanding in the tourism sector. Notably, Hilton Worldwide has agreed to invest INR 200 crore (approximately USD 27 million) in managing and operating a five-star hotel in Ahmedabad. Additionally, the tourist industry has also forged MOUs with Max India Ltd. and Aster DM.
Many fields have signed MOUs pertaining to power, including the transportation of fuel and energy from renewable sources. ReNew Power Ltd. has executed e memo rajkot to build a solar power station in the state with an expenditure of INR 1,500 crore (about USD 204 million). Other companies in the energy sector that have signed MOUs include Torrent Power Ltd., Adani Transmission Ltd., and Sterlite Power Grid Ventures Ltd.
The MOUs’ benefits
The MOUs inked during the sixth stage of the Vibrant Gujarat Summit will benefit Gujarat. These advantages include:
- The MOUs have created more than 20,000 new direct and indirect job opportunities in Gujarat.
- Enhance and support the state’s economy through economic development.
- abilities Development: Several MOUs include clauses for projects that will help local workers advance their skills.
- Infrastructure Development: The MOUs in the infrastructure sector boost the state’s transportation, electrical, and communication networks.
rajkot updates news during the sixth phase of vibrant gujarat summit 135 mous were signed . Moreover, the signed MOUs generate significant investments and benefits for Gujarat. These benefits include job creation, economic growth, education and training opportunities, and infrastructure development. Additionally, the state government utilized the Vibrant Gujarat Summit as a vital platform to showcase its favorable business policies, infrastructures, and investment possibilities to companies from India and abroad.
What is the Summit for a Vibrant Gujarat?
The Gujarati government created the Vibrant Gujarat Summit, a biennial event, to draw domestic and foreign investment.
The sixth phase of the Vibrant Gujarat Summit saw the signing of how many MOUs?
rajkot updates news during the sixth phase of vibrant gujarat summit 135 mous were signed .
Which industries witnessed the greatest MOUs during the sixth phase of the Incredible Gujarat Summit?
The sixth session of the Vibrant Gujarat Summit witnessed the most MOUs in the producing goods, infrastructures, tourism, and energy industries.
What are the benefits of the signed MOUs at the Vibrant Gujarat Summit’s sixth stage?
Jobs, economic growth, skill development, and infrastructure construction are all advantages of the MOUs.
Who took part in the sixth stage of the Vibrant Gujarat Summit?
More than 5,000 participants, including ministers, decision-makers, and CEOs, attended the sixth Vibrant Gujarat Summit from over 100 countries.
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