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State has become home to many MNCs due to Global Gujarat Summit: Minister

Gujarat Industries Minister Balvantsinh Rajput said that before the 10th Vibrant Gujarat Global Summit in 2024, Memorandums of Understanding (MoUs) were signed for a proposed investment of Rs 9,45,158.68 crore in a total of 55,860 projects.

Rajput was speaking at a press conference on the upcoming Vibrant Gujarat Regional Conference (VGRC) for the north Gujarat region to be held in Mehsana on October 9-10. (Twitter: X/@Balwantsinh99)

As a result of the Vibrant Gujarat Global Summit started in 2003 under the leadership of then Chief Minister Narendra Modi, the state has become home to a number of multinational companies (MNCs) of the world and has emerged as a development model for the country, Industries Minister Balvantsinh Rajput said in the Legislative Assembly on Friday.

Responding to a starred question by Congress MLA Shailesh Parmar, Rajput said that before the 10th Vibrant Gujarat Global Summit in 2024, Memorandums of Understanding (MoUs) were signed for a proposed investment of Rs 9,45,158.68 crore in a total of 55,860 projects.

Out of these, a total of 32,801 projects have been commissioned while 13,051 are at the initial stage. As many as 6,217 projects are under implementation, he added.

The minister said that the state government provides several facilities to domestic and foreign investors in the state such as transportation network, implementation of infrastructure projects like industrial parks and digital infrastructure, formulation of sector-specific policies, investor-facilitation portal etc.

“As a result, during the 10th Vibrant Gujarat Global Summit-2024, MoUs worth more than Rs 47 lakh crore were signed in the state,” the minister added.

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