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In the account of the Vibrant Gujarat Global Summit (VGGS), the Gujarat state government has already seen signing MoUs with 20 enterprises, which deems a total of Rs. 25,000 crore. This 10th edition of the VGGS will be inaugurated by PM Narendra Modi on 10 of January.
The primary national efforts and worldwide significance issues of VGGS 2022 would include sustainable infrastructure and manufacturing, national hydrogen mission, renewable energy, electric transportation, and futuristic technology, in accordance with Pankaj Kumar, Gujarat Chief Secretary.
This is the first batch of Memorandums of Understanding that are signed and every Monday until VGGS 2022 on January 10, the government will be signing more MoUs, he further stated.
Describing this as a good success rate, Kumar said that around 70 per cent of the MoU signed with companies at the summit gets materialized over time.
Fructification is determined by the nature of the undertaking. Some projects require a long gestation time. It might take a long time. It is necessary to observe over time. So 70% is the average level of realization that we reach, Kumar expressed
Renewable energy, chemicals, food processing, and financial services are among the major sectors from which corporations will participate in VGGS 2022, according to him.
In VGGS 2022, having the theme of “Atmanirbhar Gujarat to Atmanirbhar Bharat”, firms from countries like the UK, USA, Sweden, France, Switzerland, Germany, Italy, UAE, Netherlands, Saudi Arabia, and Qatar will take part.
Citing Vibrant Gujarat as being the influential factor in jobs generation in Gujarat, Kumar states that the state has a current 3.4% unemployment rate, which is the lowest in the country.
During the most recent VGGS summit in 2019, a total of 28,360 MoUs were signed, compared to 25,578 MoUs inked during the previous VGGS summit in 2017.
Kumar also brings to the notice that, despite the last year being passed in the pandemic, the state received 37% of total FDI (Foreign Direct Investment), received by the country, which is 21.9 billion dollars in solid figures. He also aspires that there will be an enhanced flow of FDI in Gujarat in this fiscal year