Gujarat Attracts Rs 9.45 Lakh Crore Investments Before Vibrant Gujarat Summit
Click to start listening
Synopsis
Ahead of the 10th Vibrant Gujarat Global Summit, Gujarat has finalized 55,860 projects with a proposed investment of Rs 9.45 lakh crore, as confirmed by Industries Minister Balwantsinh Rajput. This initiative reinforces the state's position as a premier investment destination.
Key Takeaways
- Gujarat signed 55,860 projects worth Rs 9.45 lakh crore.
- 32,801 projects have been commissioned.
- Vibrant Gujarat Summit enhances investor interest.
- Sector-specific policies introduced to facilitate investments.
- MoUs worth Rs 47 lakh crore were signed in 2024.
Ahmedabad, March 21 (NationPress) In anticipation of the 10th Vibrant Gujarat Global Summit, the state administration has finalized a remarkable total of 55,860 projects with an anticipated investment of Rs 9.45 lakh crore, as stated by Industries Minister Balwantsinh Rajput.
Out of these, 32,801 projects have been successfully commissioned, 13,051 are in the preliminary stages, and 6,217 are currently under implementation, he informed the Legislative Assembly.
Minister Rajput highlighted the significant influence of the biennial summit, which was first initiated in 2003 during the tenure of then Gujarat Chief Minister and current Prime Minister Narendra Modi.
He acknowledged the initiative for transforming Gujarat into a preferred hub for multinational corporations and establishing it as a model for economic advancement in the country.
Emphasizing the state’s investor-centric policies, the minister outlined various incentives, such as the enhancement of transportation systems, development of industrial parks, and improvement of digital infrastructure.
Additionally, he mentioned that Gujarat has rolled out sector-specific policies and an online single-window portal to streamline the investment process.
During the recently held 10th edition of the summit in 2024, the state government signed MoUs amounting to an estimated Rs 47 lakh crore, further solidifying Gujarat’s status as an investment powerhouse, Minister Rajput added.
The inaugural summit in 2003 set the groundwork for Gujarat's economic evolution, securing investment commitments of Rs 66,000 crore.
The momentum carried on with the 2005 edition, which recorded increased participation and investment proposals exceeding Rs 1 lakh crore. By 2007, the summit had gained international recognition, drawing 300 foreign delegates from 25 countries and formalizing MoUs worth Rs 4.6 lakh crore.
The 2009 summit marked a significant milestone with over 600 MoUs signed, translating into investment proposals worth Rs 12 lakh crore.
In 2011, the summit achieved unprecedented success, attracting participation from more than 100 countries, with investment intentions reaching Rs 20.83 lakh crore. The 2013 edition saw further expansion, emphasizing knowledge sharing, urban development, and sustainable growth.
The 2015 summit, held after BJP leader Narendra Modi ascended to the role of Prime Minister, positioned Gujarat as a significant global investment hub, attracting participation from major economies, including the US, UK, Canada, Japan, and Australia.
The 2017 edition witnessed the highest-ever foreign presence, with over 25,000 participants from 100 countries and investment proposals surpassing Rs 56 lakh crore.
