The Rajkot updates news during the sixth phase of vibrant Gujarat summit 135 mous were signed: Here the sixth stage of the Vibrant Gujarat Summit has ended in Rajkot, Gujarat, India. The summit this year, which took place from January 11 to 13, 2023, was a huge success. 135 Memorandums of Understanding (MOUs) with various national and international businesses and the Gujarat government were signed at the summit. Numerous businesses, including manufacturing, infrastructure, tourism, and energy, have reached MOUs. Gujarat has promoted its advantages, business opportunities, and potential through the Vibrant Gujarat Summit.
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Overview of the Vibrant Gujarat Summit’s Sixth Phase
Rajkot updates News during the Sixth Phase of Vibrant Gujarat Summit 135 Mous were Signed: The Gujarat government established the Vibrant Gujarat Summit, a biennial gathering, in 2003 to promote local, national, and international investment. The summit provides a platform for the state government to showcase its infrastructure, business-friendly laws, and investment opportunities to investors from India and worldwide. In Rajkot, Gujarat’s fourth-largest city, the Honourable Prime Minister of India, Shri Narendra Modi, officially launched the sixth phase of Vibrant Gujarat Summit.
The theme of the sixth version of the Vibrant Gujarat Summit is “Gujarat: Building 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.
MOUs Signed During the Summit
Throughout the sixth phase of the Vibrant Gujarat Summit, 135 Memorandums of Understanding were signed with various enterprises and the Gujarati government. However, these MOUs are expected to draw investments of INR 10,000 crore (or roughly USD 1.3 billion) for Gujarat. Several industries, including the following, have ratified the MOUs:
- Numerous MOUs have been signed in the manufacturing sector in engineering, textiles, and autos. Mahindra & Mahindra Ltd. has signed a memorandum of understanding (MOU) committing to invest INR 500 crore (about USD 68 million).
- In the state to build an electric vehicle manufacturing facility. TATA Motors, Ford India, Adani Wilmar Ltd., and JK Paper Ltd. are other companies in the manufacturing sector that have signed MOUs.
- Several MOUs have been signed in the infrastructure sector, which includes ports, airports, and trains. Adani Ports, then Special Economic Zone Ltd.,
- Has signed an MOU to construct and operate a container terminal at the Port of Mundra for an investment of INR 2,000 crore (about USD 273 million).
- Other companies that have signed MOUs in the infrastructure sector include GVK Power & Infrastructure Ltd., Bharat Forge Ltd., and IRCON International Ltd.
- Hotel, healthcare, and entertainment businesses have signing memorandums of understanding connecting to tourism.
- To manage and run a five-star hotel in Ahmedabad, Hilton Worldwide has agreed to invest INR 200 crore (about USD 27 million).
- MOUs have also been signed in the tourism sector with Max India Ltd., Aster DM Healthcare Ltd., and PVR Ltd.
- Numerous energy-relating MOUs have been signing, including ones about power transmission and renewable energy. ReNew Power Ltd. has signed a memorandum of understanding (MOU) to invest INR 1,500 crore (about USD 204 million).
- In the state to build a solar power project. Other companies that have signed MOUs in the energy sector include Torrent Power Ltd., Adani Transmission Ltd., and Sterlite Power Grid Ventures Ltd.
Benefits of the MOUs
It is believing that the MOUs signed during. The sixth phase of Vibrant Gujarat Summit. Will significantly benefit the state of Gujarat.
These benefits include:
The MOUs are expecting: To generate more than 20,000. New direct and indirect jobs in Gujarat.
Economic Growth: The MOU-attracted investments are predicting. To bolster and support the state’s economy.
Abilities Development: Several MOUs contain. Provisions for projects. That will aid local employees in developing their abilities.
Infrastructure Development: The MOUs in the infrastructure sector are expecting. To enhance the state’s transportation. Electrical, and communication infrastructure.
With the signing of 135 MOUs spanning numerous industries, the sixth part of the Vibrant Gujarat Summit has been a terrific success. It is predicting that the. However, MOUs will provide the state of Gujarat with significant investments and benefits. Including creating jobs, economic growth, skill development, and infrastructure development. The state government used the Vibrant Gujarat Summit as a vital platform to showcase its business-friendly policies, infrastructure, and investment opportunities to companies from India and abroad.
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