rajkot updates news during the sixth phase of vibrant gujarat summit 135 mous were signed. This year’s conference, held from January 11 to 13, 2023, was a great success. The Gujarat government and numerous national and international companies signed 135 Memorandums of Understanding (MOUs) at the conference. Numerous businesses have signed MOUs, including those in the infrastructure, tourism, and energy sectors. Through the Vibrant Gujarat Summit, Gujarat has marketed its benefits, commercial prospects, and potential. The sixth summit session’s MOUs will be reviewed in this article.
Overview of the sixth stage of the Vibrant Gujarat Summit
In the run up to the Vibrant Gujarat Summit, the state government on Monday signed 12 pacts for proposed investments worth Rs 14,165 crore with various industrial groups. The proposals included a Rs 1,500 crore investment by Matter, an electric vehicle manufacturing company. The Gujarati government began hosting the Vibrant Gujarat Summit every two years in 2003 to promote both domestic and global investment. The summit provides the state government with an opportunity to showcase its advantages, business-friendly legislation, and investment opportunities to investors from India and throughout the world. The In Rajkot, Gujarat’s fourth-largest city, Honourable Prime Minister of India Shri Narendra Modi solemnly launched the sixth phase of the Vibrant Gujarat Summit. The sixth annual Vibrant Gujarat Summit’s theme is “Gujarat: Constructing a Resilient Future.” This subject covers environmentally friendly economic development and Gujarat’s initiatives to do so. The meeting was attended by more than 5,000 people, many of whom were ministers, lawmakers, and CEOs from more than 100 nations. According to a press release, the state government and representatives from several industries signed investment proposals for the production of organic paper, metal, jewellery, dyes, and chemicals as well as for the production of electric two-wheelers.
Gujarat is prepared to serve as the nation’s growth engine, according to Chief Minister Bhupendra Patel, who was present at the Gandhinagar event. He also promised to work to make the Vibrant Gujarat Summit’s theme of “Atmanirbhar Gujarat for Atmanirbhar India” a reality.
MOUs were signed at the summit: reports from Rajkot 135 mous were signed at the sixth phase of the lively Gujarat summit. Gujarat will get investments of INR 10,000 crore, or roughly USD 1.3 billion, per these MOUs. The following sectors, among others, have approved the MOUs:
fabrication: engineering textile Several Memorandums of Understanding (MOUs) have been signed between the aerospace, automotive, and other industries. A memorandum of understanding (MOU) for an investment of 500 crores INR (about 68 million USD) to build an electric car manufacturing facility has been signed by Mahindra & Mahindra Ltd. and the government. In the manufacturing sector, MOUs have also been signed by TATA Motors, Ford India, Adani Wilmar Ltd., and JK Paper Ltd.
Infrastructure
Additionally, the construction sector, which includes ports, airports, and railroads, has actively participated in the MOU-signing process. The MOU between Adani Ports and Special Economic Zone Ltd., which calls for an investment of INR 2,000 crore (about USD 273 million) in order to build and run a container terminal at the Port of Mundra, is a noteworthy deal. In addition, the construction sector has seen the aforementioned companies, along with others including GVK Power & Infrastructure Ltd., Bharat Forge Ltd., and IRCON International Ltd., signing MOUs.
Tourism
In the tourism sector, agreements have also been reached between the hotel, hospital, and entertainment sectors. Notably, Hilton Worldwide has committed to spending about USD 27 million (or INR 200 crore) to manage and run a five-star hotel in Ahmedabad. Max India Ltd. and Aster DM have also signed MOUs with the tourism sector.
Energy
Power-related MOUs have been struck in a variety of disciplines, including fuel transportation and the use of renewable energy. A solar power station will be built in the state for a cost of INR 1,500 crore (about USD 204 million) under the terms of an e-memorandum signed by ReNew Power Ltd. in Rajkot. other businesses in Torrent Power Ltd., Adani Transmission Ltd., and Sterlite Power Grid Ventures Ltd. are three companies in the energy sector that have signed MOUs.
The advantages of MOUs
Gujarat will gain from the MOUs signed during the sixth stage of the Vibrant Gujarat Summit. These benefits consist of:
More than 20,000 new direct and indirect job opportunities have been produced in Gujarat as a result of the MOUs.
bolster and support the state’s economy by promoting economic growth.
ability Development: Several MOUs have provisions for projects that will aid in the professional advancement of local employees.
Infrastructure Development: The state’s electrical, communication, and transportation networks are improved by the MOUs in the infrastructure sector.
135 mous were inked during the sixth phase of the energetic Gujarat summit, according to rajkot updated news.
The MOUs that have been inked also result in substantial investments and advantages for Gujarat. These Benefits include the development of infrastructure, job creation, economic expansion, and chances for education and training. The Vibrant Gujarat Summit served as a crucial venue for the state government to promote its welcoming business policies, infrastructure, and investment opportunities to businesses from both India and beyond.
FAQs:
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What is the Gujarat Vibrant Summit?
In order to attract both domestic and global investment, the Gujarati government established the Vibrant Gujarat Summit, a biennial event. - How many MOUs were signed during the Vibrant Gujarat Summit’s sixth phase?
135 mous were signed during the sixth phase of the energetic gujarat summit, according to rajkot updated news. - Which industries signed the most MOUs at the Incredible Gujarat Summit’s sixth phase?
The most MOUs were signed at the Vibrant Gujarat Summit’s sixth session in the producing goods, infrastructures, tourism, and energy industries. - What are the advantages of the MOUs that were signed during the sixth stage of the Vibrant Gujarat Summit?
The MOUs have benefits in the form of jobs, economic growth, skill development, and infrastructure building. - Who participated in the sixth Vibrant Gujarat Summit stage?
The sixth Vibrant Gujarat Summit attracted more than 5,000 attendees from more than 100 nations, including politicians, executives, and CEOs.