Ahead of the Vibrant Gujarat Global Summit (VGGS) that is scheduled to take place between January 10-12 next year, a total of 20 companies have signed Memorandums of Understanding (MoUs) with the Government of Gujarat on Monday (November 22). The total value of pledged investments stood at ₹24,185 crores.
As per reports, there were about 6 listed companies that had inked MoUs with the State government. They included Kiri Industries Ltd, Meghmani Organics and Meghmani Finechem Ltd, Borosil Renewables and Borosil Ltd, KEI Industries and Indian Oil Corporation Ltd. The total investment committed by the listed companies stood at ₹8500 crores. Besides, Indo Asia Copper Ltd has pledged to invest ₹8500 crores for a copper smelter and fertiliser complex in the Amreli district. It will generate a total of 3500 jobs.
Colourtex India Pvt Ltd has signed an MoU with the Government of Gujarat to invest ₹2000 crore and create 3500 jobs in Bharuch district. The project is expected to start from 2023 onwards. Between 2021 and 2023, the Indian Oil Corporation Ltd will invest ₹1,595.22 crores and create 5,760 jobs in depot-terminal modernisation, automation of LPG plants etc. While Kiri Industries will invest ₹2900 crore and generate 1100 employment at the MDI complex in Dahej, Meghmani Group will invest ₹2600 in Dahej and Sanand.
Similarly, JVRx Assets Management Pvt Ltd will generate 8000 jobs through investment in the R&D and manufacturing clusters near Ahmedabad. The project is expected to kickstart from 2023. Captain Tractors has committed an investment of ₹100 crore in Rajkot and will provide 1790 jobs in the manufacture of mini tractors and agriculture equipment. B Medical Systems will set up medical and vaccine cold chain equipment in Kutch and invest about ₹100 crores for the project.
The MoUs were signed in the presence of incumbent Gujarat Chief Minister Bhupendra Patel. He assured the investors of necessary governmental support and urged them to invest in a timely manner. It is estimated that the investment will generate 36,925 jobs. The 10th edition of the Vibrant Gujarat Global Summit (VGGS) was cancelled this year, owing to the Coronavirus pandemic. It has thus been re-scheduled for January 10-12, 2022.
Government to conduct roadshows abroad for Vibrant Gujarat summit
As per a report in The Indian Express, the Gujarat government will organise roadshows to promote the ‘Vibrant Gujarat’ summit in 7 countries, including the Middle East and Europe. Additional Chief Secretary (Industries and Mines) Rajiv Kumar Gupta informed, “Chief Minister Bhupendra Patel will be visiting Dubai, Abu Dhabi and other countries in the Middle East tentatively on December 8-9. He will be leading the roadshows and meeting important businessmen and officials. One team is headed to the US, while another team is headed to Germany, the Netherlands, the UK and France. A third team is going to Japan.”
He added, “We have informed 15-20 countries through diplomatic channels and many have confirmed. In any circumstances, the number of partner countries will be more than last time.” The Gujarat government will also conduct 6 roadshows in different cities, starting with New Delhi on November 25. It will be followed by another roadshow in Mumbai on December 2. Other such roadshows will be conducted in Lucknow, Chennai, Bengaluru and Hyderabad.
