A total of 30 memorandum of understanding (MoU), amounting to Rs 24,707 crores, were formally signed and exchanged at an event held in the run-up to the much-awaited Vibrant Gujarat Global Summit. The Gujarat government believes that the operationalisation of these MoUs is expected to generate direct and indirect employment opportunities for more than 38,000 youth across sectors.
The MoUs encompass projects related to minerals, innovative housing and commercial buildings within urban development, townships, chemicals and petrochemicals, pharmaceuticals, jewellery manufacturing, green and solar energy, textile and apparel parks, engineering, automotive, animal healthcare, ethanol production, industrial parks, water supply, and skill development, among others.
During the MoU signing ceremony, the Chief Principal Secretary to the Chief Minister K Kailashnathan, Additional Chief Secretary of Industries and Mines SJ Haider, and senior officials from relevant departments were in attendance. Representatives from various renowned companies also participated in the event.
As many as 11 MoUs amounting to a total of Rs 67,000 investment potential were signed at the pre-Vibrant Gujarat Global Summit event held in Bharuch. The event, ‘FutureChem Gujarat: Shaping tomorrow’s Chemicals and Petrochemicals Industry’, brought under one umbrella policymakers, practitioners, and national and international academicians to discuss future initiatives.
The event in Bharuch centred around sustainability, decarbonisation and growth in upcoming segments. Moreover, startups and business leaders will be showcasing industry-relevant solutions and services during the event.
Nationwide, this crucial sector employs around 2 million individuals. Of the USD 94.6 billion chemical industry in India in 2017-18, USD 31.5 billion was contributed by Gujarat. Similarly, of the USD 137 billion overall coke and petroleum industry, USD 50.8 billion was contributed by Gujarat.
The Vibrant Gujarat Global Summit was initiated by Narendra Modi in 2003, then chief minister, to put Gujarat on the world map of trade and industry. The tenth edition of the Summit will be held from January 10 to 12 2024.
