Vibrant Gujarat

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US Secretary of State John Kerry addresses attendees at Vibrant Gujarat Summit 2015.

Vibrant Gujarat is the name given to a biennial investors' summit held by the government of Gujarat in Gujarat, India. The event is aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit is advertised as a platform to understand and explore business opportunities in the State of Gujarat.[citation needed]

The global Summit of Vibrant Gujarat will now enter its 8th edition in 2017. Vibrant Gujarat 2017 is scheduled to be held from 10–13 January 2017.


Vibrant Gujarat: Global Investors' Summit 2003 was organized during the Navratri festival.

The Industrial Extension Bureau acted as a nodal agency for the State Government during Vibrant Gujarat: Global Investors Summit (28 September to 2 October 2003) organized at the two major commercial cities of the State–Ahmedabad and Surat in association with the Government of India, United Nations Industrial Development Organization (UNIDO), Federation of Indian Chambers of Commerce & Industry (FICCI) & CII.

The conventions during the programme had sectoral sessions focus sector - Industrial Investment, Agro-Processing, Biotech- Pharma, Natural Gas and Oil, Infrastructure, Mining, Tourism, Apparels and Gems-Jewellery at Ahmedabad and sectoral sessions on Garment & Textiles and Gems & Jewellery at Surat. There were also exhibitions in above sectors at respective places in Ahmedabad and Surat to provide a platform for showcasing products and services. One-to-one discussions between the prospective investors, government officials and the project promoters took place.

176 project proposals were compiled and were then scrutinized for their viability. Internationally reputed credit rating agencies like CRISIL and CARE lend their support as the financial advisors to these projects. Leading private and public sector banks of India like ICICI, IDBI, State Bank of India, Bank of Baroda, State Bank of Saurashtra, Corporation Bank, IDFC and NABARD have extended their support for financing these projects. CRISIL also worked with iNDEXTb in structuring these projects.

The Deputy Prime Minister of India, Lal Krishna Advani inaugurated Vibrant Gujarat: Global Investors’ Summit 2003 on 28 September 2003.[1] Narendra Modi, Chief Minister, Arun Shourie, Ram Naik, Mukesh Ambani, and A C Muthaih were the other dignitaries present on the dais. Various sessions during the programme were chaired by other ministers from the Union and State Government.

A large number of corporate leaders like Subhir Raha, C K Birla, CEOs of multinational companies like Shell, British Gas, General Motors, P&O ports, Niko & Steag and others attended the event. International dignitaries like Larry Pressler, ex-US Senator; Michael Clarke graced the occasion.

The Surat Summit, inaugurated by Union Finance Minister, Jaswant Singh. was also equally impressive. Other dignitaries present during the event were Union Minister for Textiles, Shah Nawaz Hussain, Union Minister for Rural Development Kashiram Rana, experts in textiles, gems and jewellery, senior officials from State and Central Government.

At the end of the event, 76 memorandums of understanding (MoU) worth US $14 billion for investment were signed.

Other events organized during Navratri festival were International Convention on Reconstruction in Kutch District after earthquake in 2001 and Celebration of Birth Anniversary of Mahatma Gandhi at Porbandar–the birthplace of Mahatma Gandhiji on his birthday anniversary on October 2, 2003.

About 125 foreign delegates, 200 Non-Resident Indians, 200 leading dignitaries and other participants from about 45 countries participated in Navratri festival.


The two-day Vibrant Gujarat: Global Investor's Summit 2005 was a one-of-its- kind event in India. It got off to a start with the Honourable Vice President of India, Shri Bhairon Singh Shekhawat, inaugurating the ceremony. More than 6,000 people attended the inaugural ceremony. The dignitaries present at the ceremony included industry representatives, foreign multinationals, NRIs as well as the business ___ from various sections of the society, India. Mukesh Ambani of Reliance, Gautam Adani of the Adani Group, Shashi Ruia of Essar, Nigel Shaw of British Gas and so on. MoUs for setting up projects worth INR 870 Billion were signed on the first day itself.[citation needed]

To invite participation from global players, five delegations Led by senior Ministers __ of Gujarat Cabinet visited different parts of the world to hold discussions with NRIs, NRGs (Non Residential Gujaratis) and foreign investors. From amongst them, several investors and NRIs participated in the event.

The summit was planned to coincide with Gujarat’s famous Kite festival, Uttarayan, which marks a change of season with the movement of the sun into the northern hemisphere. Sectoral theme pavilions showcasing the strength of Gujarat in the relevant areas were developed. Major industries, Government corporations and Institutions participated in each sector. The event also hosted an exhibition along with seminars on the focus areas for investment in the state. These were IT, Biotech, Agro, Energy, Gas, Petroleum, Non-conventional Energy, Port & port-Led industries, Financial Services, Textiles and Apparels, Gems & Jewellery, Tourism etc. The exhibition was held at the Science City which have more than 200 exhibitors from various sectors. The exhibitions attracted visitors from within the state and outside.

Facility for arranging one to one meetings available where senior officers from the Industries and other departments, representatives of UNIDO and FICCI were present.

On the first day, the focus sectors were Information Technology, Biotechnology, Agro, Energy, Gas, Petroleum and more importantly Non-conventional Sources of Energy. Seminars and meetings were held in three different halls at the Science City. Potential investors and industrialists had one-to-one meetings with senior officials of the state government and ministers of the cabinet.

The concluding day maintained the same momentum and enthusiasm as that of the first day with MoUs being signed by Industry. Several new MoUs were signed in the focus sectors of the day–Agriculture, Engineering, Tourism, Urban Development, Chemicals and Pharmaceuticals, Port & Port Led development, Textiles, Gems & Jewellery.

By the time the Summit concluded on the second day, investments worth INR 1060 Billion in the form of MoUs were signed with 226 units. The concluding ceremony was graced by the Union Minister for Commerce & Industry Shri Kamal Nath,

Of the 226 MoUs, Engineering, Gas and Port sectors attracted the maximum number of investment proposals, followed by Agriculture, Urban Development, Tourism, Chemicals & Pharmaceuticals, Textiles, Gems & Jewellery, IT and Biotechnology sectors. Besides these, four industrial majors–Torrent, Essar, Welspun and Adani, have Ledged investments of INR 120 Billion in gas-based or lignite-based power projects, assuring self-sufficiency to the state for future in the most important sector - power.

Over all, the event evoked an excellent response amongst in industrialists in India and foreign countries in particular in Gujarat in general.


The Government of Gujarat hosted the Vibrant Gujarat Global Investors' Summit 2007 on January 12 and 13 at Ahmedabad in which Gujarat emerged as a Global Investment Destination and justified its role as the Growth Engine of Indian Economy. This was the third such Summit organized by the state government with the first Summit held in 2003 and the second held in 2005.

In all the Summits, Gujarat was showcased as an ideal investment destination, both for Indian and Foreign investors. Prospective investors were extended two significant messages: 1. In Gujarat there is only Red Carpet and no Red Tape. 2. It is where Investors can sow a rupee and reap a dollar as returns.

Detailed investment opportunities in different segments of focus sectors were prepared and supplemented by individual project profiles to give comprehensive information about the state. These focus sectors included Agro & Food Processing; Engineering, Auto & Ceramics; Biotechnology; Textiles and Apparels, Gems & Jewellery; Tourism; IT; Power, Oil & Gas; Chemicals, Petrochemicals & Pharmaceuticals; SEZ & Port-Led Development and Urban Development.

The Vibrant Gujarat Global Investors’ Summit 2007 event was spread over a period of 4 days. On 10 January 2007, a multimedia exhibition-Eternal Gandhi–on life and philosophy of Mahatma Gandhi was inaugurated at Science city, Ahmedabad. On the 11th of January, an exhibition showcasing the strengths and advantages of the various industries in Gujarat named “Gujarat Discovered” and the International Kite festival at the Sabarmati Riverfront Development site was opened. The 12th of January saw the inauguration of Global Investors’ Summit at the Science city.


The Government of Gujarat organized the 4th biennial Global Investors' Summit 2009 during 12–13 January 2009. Based on the theme–Gujarat Going Global and aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit served as a perfect platform to understand and explore business opportunities with the State of Gujarat.

Vibrant Gujarat: Global Investors' Summit 2009 had resounding success this year too as it had been in the past. During the course of two days, 8662 MoUs worth US$243 billion (over Rs. 12,000 Billion) are signed. The summit witnessed participation of delegates from 45 countries, amounting to over 600 foreign delegates. The who’s who of the Indian industry were present, including Ratan Tata, Chairman, Tata Group, KV Kamath, Chairman ICICI and President CII, Mukesh Ambani, Chairman, Reliance Industries, Kumar Mangalam Birla, Chairman, Birla Group, Shashi Ruia, Chairman, Essar Group, Mr, Anil Ambani, Chairman, ADAG Group, Sunil Mittal, Chairman, Bharti Enterprise among several other dignitaries. Several political dignitaries from various countries such as Japan, UK, China, Russia, Canada, Israel, Poland, Korea, UAE, Malawi, Indonesia, Oman, Kenya, Italy, Singapore, Trinidad & Tobago, Vietnam, Uganda, Zimbabwe and Maldives had participated

Japan was the Partner Country to this Summit. This being the first time any country has agreed to partner with a State of another country. Japan External Trade Organisation (JETRO) was designated as the partner organization. Japan also reciprocated Gujarat’s initiatives for mutual economic cooperation by sending two senior level delegations, led by Hideaki Domichi, the Ambassador of Japan to India and Heizo Takenaka, Former Minister of Economic & Fiscal Policy of Japan. The maximum number of delegates was from Japan, totalling to over 70 members. Another major delegation was from USA.

The exhibition was organized in a grand way, spread over an area of 19,200 sq. mts. There were 232 stalls, quite impressive and informative, having participation of eminent companies of India. Sixteen countries participated in the exhibition from countries such as Japan, Korea, UK, Kenya, Arab League, Russia, Netherlands, Trinidad & Tobago, Czech Republic, El Salvador and Uganda.

Earlier Summits were organized in the year 2003, 2005 and 2007. The 2003 Global Investors' Summit was held coinciding with the glorious Navratri festival where a total of 76 MoUs worth USD 14 billion were signed. The 2005 Summit saw signing of 226 MoUs garnering an investment of USD 20 billion. The year 2007 Summit, resulted in signing of 675 MoUs worth USD 152 billion. In the year 2009, the initiative that began six years ago, was intensified and the state propelled into the next stage of the development process, focused and intensive growth in the socio-economic index.


Vibrant Gujarat 2011 Summit was held at Gandhinagar on 12–13 January 2011. It is to be held at a special site dedicated for Vibrant Gujarat named Mahatma mandir situated at Gandhinagar sector 13. About 7936 MoUs were signed worth $462 billion in the two days.[2]


Vibrant Gujarat 2013 Summit was held for the second time in Gandhinagar on 12–13 January 2013 Mahatma mandir.[3] Besides Gujarat it will also host a Number of other Indian states Like Karnataka and Developed and Developing Countries like Mozambique, Canada, United Kingdom, Japan.[4]


The 7th Vibrant Gujarat Summit was planned during 11 to 13 January 2015 at Mahatma Mandir, Gandhinagar, Gujarat, India. Six summits held so far had been a resounding success and immensely contributed to the transformation of Gujarat into a "Global Business Hub". The prime focus of Government of Gujarat was Inclusive development and the key areas for development identified included: Innovation, Sustainability, Youth & Skill Development, Knowledge Sharing and Networking. This Summit was an ideal platform for other states and countries to showcase their strengths, highlight business opportunities, facilitate knowledge dissemination etc.

Apart from Summit, Vibrant Gujarat is also known for the Trade Shows. Every year 2000+ Companies do participate in this exhibition, and around 1 million visitors participated in Vibrant Gujarat 2015.

Details about participation of prominent foreign dignitaries and their views about VG & Gujarat

Over 25,000 Delegates from India and 110 other countries participated in the 7th Vibrant Gujarat Summit 2015. Following are the dignitaries and diplomats who marked their presence in Vibrant Gujarat 2015:

  • a. Mr. Narendra Modi, Hon’ble Prime Minister
  • b. Mr. Tshering Tobgay, Hon’ble Prime Minister, Bhutan
  • c. Mr. Nikola Gru`evski, Hon’ble Prime Minister, Republic of Macedonia
  • d. Mr. Ban Ki Moon, Secretary General, United Nations
  • e. Mr. John Kerry, Secretary of State, USA
  • f. Mr. Jim Yong Kim, President, World Bank
  • g. Mr. Sam Walsh, CEO, Rio Tinto, Australia
  • h. Mr. Mukesh Ambani, Chairman, Reliance Industries Ltd.
  • i. Mr. Kumar MangalamBirla, Chairman, Aditya Birla Group
  • j. Mr. Ajaypal Singh Banga, President, USIBC
  • k. Mr.Yosuke Takagi, Hon’ble State Minister, Ministry of Economy, Trade & Industry, Govt. of Japan

John Kerry, Secretary of State, USA, said, “PM Modi’s Sabka Saath Sabka Vikas sounds like a pretty slogan for all of us to adopt.”

Jim Yong Kim, President, World Bank, said, “We believe India should be the leader in eliminating poverty; it’s a radical and unique opportunity over the next decade.”

Mukesh Ambani, Chairman, Reliance Industries Ltd., said, “I urge each and every investor to follow our path and invest in Gujarat, just as we did.”

Tshering Tobgay, Hon’blePrime Minister, Bhutan, said, “I am here on my economic pilgrimage”

Sam Walsh, CEO, Rio Tinto, Australia, said, “We will add 30,000 Jobs in diamond cutting industry in Gujarat. Looking forward to impetus that Vibrant Gujarat will provide.”

Yosuke Takagi, Hon’bleState Minister, Ministry of Economy, Trade & Industry, Govt. of Japan, said, “Japan is incomplete without India, India is incomplete without Japan.”


After organizing seven successful Summits, Government of Gujarat moved further in its journey towards sustainable long-term growth and inclusive development by organizing the 8th edition of Vibrant Gujarat Global Summit from 10th to 13 January 2017 at Mahatma mandir, Gandhinagar. The central focus of the 8th edition of the Vibrant Gujarat Global Summit was “Sustainable Economic and Social Development”. The Summit brought together Heads of States and Governments, Ministers, Leaders of the Corporate World, Senior Policy Makers, Heads of International Institutions and Academia from around the world to further the cause of development and promote cooperation.

Gujarat Chief Minister Vijay Rupani declared conclusion of the 8th edition of Vibrant Gujarat Global Summit, at Mahatma Mandir on 12 January 2017, on a politically confident note, by inviting all the guests for the next edition of the biennial event in January 2019 even as the state is scheduled to go for assembly elections in 2017. A total of 25,578 Memorandum of Understanding (MoUs) were declared to have been signed by different industrial units. Out of the signed MOUs, 18,533 were from MSME sector, 5,938 from the large-scale sector and 1,107 MOUs were for strategic and technological partnership sector. However, the number of the total worth of MOUs was not declared.[5][6] Vibrant Gujarat Global Summit 2017: Big-bang promises missing Though invited, former Tata Sons chairman Cyrus Mistry chose to stay away Vinay Umarji & Sohini Das | Gandhinagar January 11, 2017 Last Updated at 00:48 IST Tiny URL Add to My Page Print Email 3041

Prime Minister Narendra Modi with Gujarat Chief Minister Vijay Rupani at the Vibrant Gujarat Summit 2017 in Gandhinagar on Tuesday. (Photo: Yasin D) Prime Minister Narendra Modi with Gujarat Chief Minister Vijay Rupani at the Vibrant Gujarat Summit 2017 in Gandhinagar on Tuesday. (Photo: Yasin D) ALSO READ Brand Modi key to success of 2017 Vibrant Gujarat Summit State govt claims 66% success ratio for past seven Vibrant Gujarat summits Vibrant Gujarat Global Summit 2017 attracts Chinese attention Gujarat Summit numbers do not add up After auto, Gujarat aims to be defence, aerospace hub

The 2017 Vibrant Gujarat Global Summit's inaugural ceremony on Tuesday looked like a shadow of its own past glory as the trademark big-ticket investment promises were missing.

Several chief executive officers attending the summit praised Prime Minister Narendra Modi's "dynamic and visionary leadership" over the past two and a half years.

The PM's speech, which was at least a quarter of an hour shorter than last year's, showcased India's growth story. "Despite the global slowdown, we have registered excellent growth. India is a bright spot in the global economy." The World Bank, the International Monetary Fund and other institutions have projected even better growth in the coming days, he added.

Listing out India's global rankings on various indicators, Modi said, "Creating an enabling environment for business, and attracting investments, is my top priority."

Modi was called a transformational leader by many, including Executive Chairman of Cisco John Chambers and Chief Executive Officer of Fairfax Canada Prem Watsa. Calling Modi the Lee Kuan Yew of India, Watsa said the Prime Minister can transform the country. The late Singaporean leader was the city-state's first Prime Minister and is credited with transforming Singapore into a developed nation in a span of 25 years.

Investment promises came only from a couple of people. Gautam Adani, chairman of the Adani Group, committed fresh investments worth Rs 49,000 crore over five years and Lulu Group promised Rs 12,000-crore investment.

Some like Reliance Industries (RIL) Chairman Mukesh Ambani, who was referred to as "handsome" (leaving Ambani in splits) by Huntsman Corp President and Chief Executive Officer Peter Huntsman, underlined their investments already made in the state. Ambani said that RIL’s investments in Gujarat were the biggest by an Indian corporate in a single state, at about Rs 2.4 lakh crore.

“In fact, in the past four years, we have invested Rs 10,000 crore more than what we had promised, or around Rs 1,25,000 crore,” he said.

Piruz Khambatta, chairman and managing director of Rasna Pvt Ltd, justified the stance of not speaking about investments. “Once investment commitments are announced, it actually becomes a tool in the hands of the opposition and the critics to say that only a fraction of the investments comes in. This is probably why (Mukesh) Ambani spoke about the actual investments he has made in the state. So, this is a strategic decision.”

Ratan N Tata, chairman of Tata Sons, and the first one to speak at the event, reminisced what he had said a few years ago. “If you were not in Gujarat, you are stupid.” He ended his speech to a round of applause when he said in Gujarati, “Amey bhi Gujarati chhu; Ane aapne paachha Gujarat ma aavya chhe (I am a Gujarati too; I have now come back to Gujarat).”

Though invited, former Tata Sons chairman Cyrus Mistry chose to stay away.

Adani to pump in Rs 49,000 crore

Adani Group plans to invest over Rs 49,000 crore in Gujarat over five years and this is expected to generate direct and indirect employment for 25,000. Of this, around Rs 16,700 crore would be invested in Mundra, Dahej, Hazira and Tuna to set up a container terminal capacity to 10 million TEUs and to connect Hazira with the Delhi-Mumbai freight corridor through a rail-link, among others. In renewable energy, the group will invest Rs 23,000 crore by 2021 to develop and generate solar and wind energy. In the agri business, under Adani Wilmar, it plans to invest Rs 1,200 crore to double capacity. of edible oil facility at Mundra from 3,000 tpd. New investments are planned in the water and cement sectors as well - a Rs 5,500-crore cement plant at Mundra with capacity of 10 million tonnes and a desalination plants at Rs 2,000 crore.

Lulu to invest Rs 12,000 crore

Lulu Group has committed to make an investment of Rs 10,000-12,000 crore in Gujarat. “Our Lulu Shopping Mall in Kochi, Kerala, is India’s biggest shopping mall. In Ahmedabad, we are looking at opportunities to start a shopping mall, hotel and a mini convention and exhibition centre,” said Yusuffali M A, MD. Even health workers on prevention operations were not informed of incidence; WHO official expresses disappointment over Ministry response

For a week, the Union Health Ministry has maintained that the decision to not make cases of Zika public was to avoid panic. However, an investigation by The Hindu reveals that the Vibrant Gujarat Summit “was a factor” in the decision to keep the Zika incidence under wraps.

The cases in Ahmedabad district were confirmed by January 4, 2017. In just about a week, Prime Minister Narendra Modi’s flagship project to attract foreign investors, Vibrant Gujarat, was scheduled to take place. A travel advisory at this time could have ruined the summit. Two independent sources, one of whom is highly placed in the Health Ministry, confirmed that the investment summit was the reason for covering up the Zika cases.

Intense surveillance

Soon after a positive case was reported, a team of 250 health workers and entomologists (people who study insects) were summoned to Bapunagar, in the east of Ahmedabad, where the patient lived. The healthcare workers were divided into clusters of 20 to carry out intensified intra domestic (ID) work that involves identifying mosquito-breeding spots and symptomatic patients. The week-long exercise, however, did not mention the word Zika.


Question of public trust

“We were told it was a special campaign for vector-borne diseases like malaria and dengue. The ID activities are carried out throughout the year so we simply followed the orders,” said Dr. Harish Sandariya, medical officer of the Bapunagar Urban Health Centre that was at the epicentre of the action.

“Even now, I have no idea who the Zika virus patients are. I am only told that two of them fall under my medical boundary,” he said, adding that the secrecy was probably to avoid spreading panic.

The health officials were not the only people in the dark. The entire district, with population of close to six lakh people, was told that the screenings were for malaria. “The health workers keep coming to put medication in the water tanks to prevent malaria and dengue. But we are not aware about any new disease spread by the mosquitoes,” said Gulshan Bano, 40, a resident of Garib Nagar inside Bapunagar.

Asked about how the government handled the news about the Zika cases, Dr. Soumya Swaminathan, Director General of the Indian Council of Medical Research (ICMR), said: “In general, for public health interventions, it is best to take the community into confidence. We need to educate people about the risks and present a factual and balanced view.”

ALSO READ Zika cases in India: A shocking cover-up

Answer in Parliament

The Health Ministry had submitted in Parliament that, “representative[s] of the State Governments/UTs have been briefed on the action plan. Advisories have been issued to the States for intensification of vector control measures. Travel advisory has been issued,” after confirming one of the three cases reported.

However, last week, J.N. Singh, Chief Secretary of Gujarat, informed the media that the government, “Consciously did not go public with the cases” as the numbers did not rise.

Further, the Health Ministry delayed giving data on the Zika cases in Gujarat to WHO’s South East Asia Office (SEARO) for nearly two months. WHO’s SEARO had reached out to the Ministry in March whereas the data was given to them on May 15, and eventually published last Saturday.

“Going in, the government could not have known that the cases won’t rise. We reached out to the Health Ministry the day that question was raised in Parliament. It took two months to get the data from the government,” said a senior official in WHO SEARO.

The WHO official added that when the ICMR eventually handed over the information, the facts were out of place. “Their document said that one case each was reported in February 2016, November 2016 and then January 2017. When we published this information last week, the Ministry informed us that the first case in February 2016 was a typo. The handling of information by the Ministry has been disappointing,” the official said.

Precautions ignored

According to notification requirements of WHO’s International Health Regulations (2005), member states are to brief the international organisation within 24 hours of identifying a case. “The four decision criteria to be used... in assessment of a public health event are: (1) the seriousness of the event’s public health impact; (2) the unusual or unexpected nature of the event; (3) the risk of international disease spread; and (4) or the risk that travel or trade restrictions will be imposed by other countries.”

We now know that none of these precautions was taken by the Health Ministry as the State-level health officials were also kept out of the loop. As Gujarat readies for the eighth edition of Vibrant Gujarat Global Investors Summit (VGGIS) next week, the stage is set for Prime Minister Narendra Modi to pitch India as an investment hot spot from the platform of the biennial event beginning January 10.

Increasing its reach and span, the four-day business meet this year is being touted as the biggest ever summit, which was conceived and launched by Modi in 2003 when he was the Gujarat chief minister. Apart from industry captains, the summit will also host Nobel laureates along with several heads of states for the first time.

The PM will hold a dialogue with heads of 35 international and 23 Indian companies at the global CEO roundtable on ‘Transforming India’ at Mahatma Mandir in Gandhinagar on the inaugural day.

“The roundtable aims to dig and brainstorm industry’s expectations to make India an ideal investment destination,” PK Taneja, additional chief secretary (industries and mines), said.

John Chambers, chairperson of global technology giant Cisco; Bertrand-Marc Allen, president of Boeing International; and Jean-Bernard Levy, CEO of French electricity giant EDF, have already confirmed their participation in a special meeting with Modi.

Besides, presidents of Kenya and Rwanda, prime ministers of Portugal and Serbia, and deputy prime ministers of Russia and Poland will be among the dignitaries at the inaugural ceremony. It will also see the participation of delegations from the United Kingdom, Canada, Japan, Sweden and France, among others.

A Nobel Prize Series Exhibition – wherein Nobel-winning scientists will interact with students, scientists, industry leaders and policy makers – is being seen as one of the high points of the summit that has, so far, been projected as a platform for meeting of business minds.

The five-week exhibition will be opened by Modi on January 10 at Science City in Ahmedabad. Among the scientists is Indian-origin Venkatraman Ramakrishnan, who shared the Nobel Prize in chemistry in 2009 with Thomas A Steitz and Ada Yonath.

“This will be the first time that Nobel Prize winners in such a big number from across the world will hold a session in the country,” chief secretary JN Singh said.

The Nobel winners will take part in ‘Nobel Laureate Dialogue’ at Mahatma Mandir on January 10, secretary of department of science and technology Dhananjay Dwivedi said.

“On January 11, these Nobel laureates will interact with students at various educational institutes such as IIT Gandhinagar, Gujarat University and MS University in Vadodara,” he added.

MoUs materialisation

Opposition Congress has time and again questioned the success of VGGIS in terms of actual investment and employment generation against the pledge memorandum of understandings (MoUs) and promised jobs.

However, leading industrialists led by RIL Group vice-president Parimal Nathwani last week came in defence of the Bharatiya Janata Party (BJP) government in the state, claiming a higher rate of MoUs actualisation.

“From the past seven summits, on an average 66% of signed MoUs have been either commissioned or are in the stage of implementation,” chief secretary Singh said.

The government, however, has shied away from giving total investment that has come due to the actualisation of the 66% of the MoUs.

Fixed-pay workers threaten disruption

Jan Adhikar Manch (JAM), a little-known outfit, has threatened to disrupt the summit if nearly 15 lakh fixed-pay and contractual workers are not enrolled permanently by January 7. Young leaders, including Jignesh Mevani and Alpesh Thakor who represent Dalits and OBC/SC/ST, respectively, have extended their support to JAM.

“We want that the government, which is organising a world class summit, must treat these 15 lakh workers on par with its employees,” JAM convener Pravin Ram said.

Deputy chief minister Nitin Patel on Monday said that the government will try to address the issue of the workers and file an affidavit on January 10 in the Supreme Court, which is hearing a case in this regard.

Opposition Congress, however, said the government’s assurance was just an eyewash.

“To avoid any sort of disruption during the summit, the government has given a lollipop by saying they would take a positive approach to resolve the issues of the fixed-pay workers,” Congress national spokesperson Shaktisinh Gohil said.

The 'Mahatma Mandir' in Gandhinagar witnessed the 8th edition of Vibrant Gujarat Global Summit 2017 inaugurated by Prime Minister Narendra Modi. The 'temple' is a convention centre and a memorial which is inspired from life and philosophy of Father of the Nation--Mahatma Gandhi. Covering an area over 34 acres, it is one of the biggest convention centres in India. Earlier, business meets like Vibrant Gujarat Global Summit 2011, 2013 and 2015 were also organised here. (Facebook) The memorial dedicated to Mahatma Gandhi was constructed by Shapoorji Pallonji And Company Limited. It has a suspension bridge built in memory of the Dandi March. A concrete dome structure is constructed representing salt mound houses a museum, library and research center. (Facebook) A sculpture garden with stone murals depicting the life of Mahatma Gandhi has also been developed. The memorial also has a grand spinning wheel (charkha), again inspired from and reflects the life and philosophy of the Mahatma Gandhi. (Facebook) Ahead of the official inauguration of the Vibrant Gujarat Global Summit, Prime Minister Narendra Modi held delegation-level talks with various international leaders at Mahatma Mandir on Tuesday starting with the President of Rwanda, Paul Kagame. Nobel Dialogue 2017 held at Mahatma Mandir as part of Vibrant Gujarat Global Summit wherein Nobel laureate David Gross participated along with eight others laureate. (Facebook) In 2003 Narendra Modi became the first chief minister to hold a state-level investor conclave called Vibrant Gujarat Global Investors Summit (VGGIS). These summits helped a lot in building his image as an administrator who could attract investment and hence bring development. Many states have emulated this practice since then. With this year’s edition of Vibrant Gujarat scheduled from January 10 to 13, speculations are rife whether investment announcements would exceed the 2015 level of Rs25 lakh crore.

To be sure, not everybody buys these figures. The opposition has in the past raised allegations that only a fraction of investment announcements made in VGGIS are actually realized. Such allegations have been refuted by corporate houses, as was reported in a Mint story recently.

How credible are the investment announcements made in VGGIS? The Socio-Economic Review of Gujarat for 2015-16 says that 57% of all MoUs/Investment Intention approved during Vibrant Gujarat Summit 2003 to 2015 (as on October 2015) have been commissioned or are under implementation, but no further details are provided.

A Mint analysis shows that even half of the investment announcements made in VGGIS might not have been realised. Here’s why. If all proposed investments in VGGIS between 2003 and 2015 were to be combined, the state has witnessed an investment commitment of over Rs76 lakh crore. For the period from 2003 to 2011, Vibrant Gujarat website has the data for investment announcements made in VGGIS. For 2013 and 2015, media reported figures have been used to arrive at the total figure from 2003 to 2015. This figure is around 40% more than the combined GSDP of Gujarat between 2003-04 and 2014-15.

GSDP figures are supposed to be a sum of consumption, investment (both government and private) and net exports. So it is clear that investment announcements in VGGIS are gross exaggerations.

Given the fact that GSDP statistics do not give estimates on capital formation, it is difficult to ascertain the exact amount of capital formation in a state.

Mint has used Centre for Monitoring Indian Economy’s (CMIE) Capex numbers to get an idea about the investment scenario in Gujarat.

A look at trend for new investment announcements in Gujarat shows a big spike in investment announcements in Gujarat in quarters when VGGIS is held. No such trend is seen for all-India figures though.

Are these investment commitments actually realised? It does not look like that. Gujarat is behind many states in terms of share of investment projects completed in investment announcements made, shows CMIE data. In absolute terms, however, Gujarat has seen the highest value of both new investment projects announced as well as completed between 2002-03 and 2015-16.

Gujarat is one of the most industrially advanced states in the country, and hence it is to be expected that it would attract more interest from investors both at home and abroad. The excitement around VGGIS is probably a result of the state’s already existing industrial accomplishments, rather than it being the other way round. The 7th Vibrant Gujarat Summit, is scheduled to be held from 11th to 13th January 2015 at Mahatma Mandir, Gandhinagar, Gujarat, India. The previous successful summits are examples of the visionary approach of the Government of Gujarat towards inclusive and sustainable development. Six summits held so far have been a resounding success that immensely contributed to transformation of Gujarat into a \"Global Business Hub\". The brand \"Vibrant Gujarat\" began as an \"investors\' summit\" has now evolved into an ideal platform for knowledge sharing, social and business transformation. The Summit gradually evolved into a round-the-year investment promotion exercise with events scheduled well in advance of the main Summit planned in 2015.

           The prime focus of Government of Gujarat is Inclusive development and the key areas for development identified included: Innovation, Sustainability, Youth & Skill Development, Knowledge Sharing and Networking. Also, this Summit is an ideal convergence for other states and other countries to showcase their strengths, highlight business opportunities, facilitate knowledge dissemination etc. It also provides an attractive opportunity to its participants to understand the potential of Gujarat in various sectors. Besides, it provides platform to interact with policy makers, industry leaders, and renowned academicians from all over the world.

           The focus for the 7th edition is on participation of CEOs of top international companies and focuses Government of India’s economic programmes, including job creation through attracting investment in line with “Make in India”. The Summit would not be confined to the State of Gujarat; proposals for investments and commercial activities – both in and outside Gujarat – are encouraged. Prime Minister of India will be present on the first day of the Summit.

GANDHINAGAR: Investment promises, the hallmark of Vibrant Gujarat summits, rained heavily on the second day of the coveted business meet at Mahatma Mandir on Wednesday as Indian corporates, multinationals, educational institutions and state-run enterprises pledged over Rs 20 lakh crore. The amount is likely to cross Rs 30 lakh croremark on the concluding day on Thursday Defence and aerospace, mining and minerals, chemicals, steel, urban infrastructure, petroleum and petrochemicals, renewable energy , automotive, electronics and information technology were some of the sectors where companies expressed their intent to invest. "In all, 50 MoUs committing at least Rs 4,000 crore and 133 for investment between Rs 1,000 crore and Rs, 4000 crore were signed on Wednesday ," Nitin Patel, deputy chief minister, told media per sons. Notable among them was France's Airbus Group, which signed an MoU to develop an aerospace cluster including a helicopter manufacturing plant in Dholera spe cial investment region. However, the company did not quote any investment figure. While Adani Group, Welspun Group and MRF Group together announced investments worth nearly Rs 16,500 crore, the sunrise sector of biotechnology saw 54 firms signing MoUs to pump in nearly Rs 6,000 crore over the next few years.

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सिर्फ 2 हफ्ते में खत्म हो रही डायबिटीज GlyxGo Recommended By Colombia Welspun will invest Rs 2,000 crore in setting up an integrated textile manufacturing zone. It will also invest Rs 1,000 crore each on capacity enhancement of its technical textile business and its advanced textile arm that makes specialised materials for aerospace, defence and automobiles. Adani Group signed an MoU to invest Rs 4,200 crore for solar plant in Mundra and Rs 1,700 crore in information technology .P K Taneja, additional chief secretary , industry & mines, said, "So far, 24,835 MoUs have been signed for various sectors besides a number of strategic tie-ups." Information technology, the one in dustry where Gujarat is still struggling to attract top firms, also saw Rs 16,000 crore worth MoUs being signed. The state home department has also entered into a strategic partnership with a Russian agency for electronic surveillance system. Latest Comment

Every year such MoUs are done. But only 1℅hardly Investment take place Jitesh Narshana SEE ALL COMMENTSADD COMMENT Japan, which has been associated with VGGS since 2003, is keen to set up a dedicated Japan industrial park. Six cement plants are also likely to come up in Gujarat with various companies signing MoUs for an investment ranging from Rs 2,500 to Rs 5,500 crore.China's Tsingshan Holding Group has also proposed a Rs 5,500 crore steel plant while another firm from the dragon land, Taishan Fibreglass Inc, signed an MoU to set up Rs 1,700 crore fibre glass plant here. P2 & 4 Stay updated on the go with Times of India News App. Click here to download it for your device. HIGHLIGHTS The number of MoUs signed at VGGS was close to 3,000 more and the committed investment is likely to cross Rs 30 lakh crore. Despite demonetisation the maximum number of MoUs came from the micro and small and medium enterprises. Defence Minister Manohar Parrikar addresses the valedictory function of Vibrant Gujarat Investment Summit in Gandhinagar on Thursday. (PTI photo)Defence Minister Manohar Parrikar addresses the valedictory function of Vibrant Gujarat Investment Summit in G... Read More GANDHINAGAR: Gujarat sought to project itself as a bright spot amid the prevailing economic gloom post-demonetisation with investment intentions or memoranda of understanding signed at the eighth edition of Vibrant Gujarat Global Summit (VGGS) touching a record 25,578 as curtains fell on the biennial business blitzkrieg at the Mahatma Mandir on Thursday. The number of MoUs signed this summit was close to 3,000 more than the 2015 summit and the committed investment is likely to cross Rs 30 lakh crore. However, deputy chief minister Nitin Patel refused to put any figures to the investment intentions. This was an aberration from the previous summit when then chief minister Anandiben Patel had declared that the state had attracted Rs 25 lakh crore investment intentions. The three-day event partnered by 12 countries justified the theme `Connecting India to the world' as 2,743 inter national delegates from nearly 100 countries participated. "One of the biggest take away from this year's VGGS is that all the foreign delegates would act as brand ambassadors of Gujarat in their respective countries," chief minister Vijay Rupani said, addressing the valedictory function. Rupani also attempted to silence the critics who often question the actual realisation of MoUs and said even as 80% of them are being implemented, questions are being asked about the remaining 20% of those that have not fructified. "This is a good thing. I welcome this criticism and I promise that we will do everything possible to realize those 20% too," he said. Ironically, the maximum number of MoUs came from the micro, small and medium enterprises (18,533) that have been worst hit by demonetisation and seen thousands being laid off due to cash crisis. Defence minister Manohar Parrikar, who was the chief guest at the valedictory function, invoked Swami Vivekananda on his 154 th birth anniversary and said that Vibrant Gujarat was a real tribute to him as it would result in massive employment for the youths.

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This Mother is struggling to save her baby! Milaap Recommended By Colombia "Today is the National Youth Day and you have succeeded in generating lakhs of new job opportunities for our youth in Gu jarat. This is one area which I think needs to be followed up by others," he said. Moreover, it was the first time since the inception of Vibrant Gujarat in 2003 that two Muslim countries -Saudi Arabia and the United Arab Emirates that are among the richest in the world -actively participated in the event and expressed keen desire to forge business ties with Gujarat. Latest Comment

1% of the total amount invested on all the projects can be donated by the Government of Gujarat to build a new Bridge at Ghodbunder near Mumbai, so all the people coming from Vibrant Gujarat do not h... Read More Brian Noronha SEE ALL COMMENTSADD COMMENT Parrikar praised Gujarat for its innovative, ease of business, progressive and forward looking approach. "It can become an important hub for defence manufacturing. There are varieties of products being developed by defence and Gujarat gover nment can be interested in aerospace technology," he said. VGGS 2017 also saw Prime Minister Narendra Modi, who is often eulogized by industry captains and international guests at every summit, got the biggest compliment when several global leaders sought to see him take centrestage internationally. Stay updated on the go with Times of India News App. Click here to download it for your device. AHMEDABAD: All roads will lead to the Mahatma Mandir over the next four days as who's who of politics, business, and even academia from across the globe descend on Gandhinagar for the Vibrant Gujarat Global Summit (VGGS) 2017. The 8th gala edition of the summit will be inaugurated by Prime Minister Narendra Modi on January 10. On Monday , the PM will throw open the five-week and the-first-of-its-kind Nobel Exhibition, the BSE International Exchange in GIFT City , and will break ground for Rs 300 crore mega-redevelopment project of the Gandhinagar railway station. With "Connecting India to the World" as its central theme, this year's biennial flagship event of the state will host prime ministers, presidents, deputy PMs, and ministers of several nations apart from CEOs of Fortune 500 companies.Prime Minister of Serbia Aleksandar Vucic, President of Kenya Uhuru Kenyatta, Presi dent of Rwanda Paul Kagame, Prime Minister of Portugal Antonio Costa, Russia's deputy prime minister Dmitry Rogozin, and France's for eign minister Jean-Marc Ayrault have consented to be a part of the summit.

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An Indian girl dropped 5 size in only 3 month Healthreport24 Recommended By Colombia Bertrand-Marc Allen of Boeing International, Sultan Ahmed Bin Sulayem of DP World group, Cisco System's John Chambers, and 32 other global CEOs will rub shoulders with Indian business magnates such as Mukesh Ambani, Anil Ambani, Kumar Mangalam Birla, Gautam Adani, Vishal Sikka and Pankaj Patel at the Global CEOs' Conclave. The sum mit, no longer limited to just investments, aims to pro vide a plat form to debate global eco nomic and so cial issues on the lines of the World Economic Forum (WEF) in Davos. Large delegations from12 partner countries of Vibrant Gujarat -including the US, the UK, France, and Austra lia -are attending the summit. And for the first time, eight No bel Laureates will interact with youth during the "Nobel Dia logue". VGGIS 2017 is expected to be leveraged by PM Modi to soothe the nerves of industries hit by demonetization. Top Comment

isn't it time to announce how many past MOUS IN GUJARAT WERE CONVERTED INTO CONCRETE INVESTMENTS AND How MANY JOBS WERE CREATED. Rajesh Vyas SEE ALL COMMENTSADD COMMENT Keeping with the tradition, the state government has lined up 21,910 memorandums of un derstanding (MoUs) to be signed. The investment com mitment is expected to reach Rs 30 lakh crore, the highest among all summits held so far. Apart from the country-spe cific seminars featuring sever al nations, sessions on goods and services tax (GST), Make in Gujarat, MSMEs, smart and livable cities, innovation, star tups, and entrepreneurship will be major attractions. 25,578 MoUs signed at Vibrant Gujarat summit Vibrant Gujarat Global Summit 2017 came to an end on Thursday, with 25,578 memorandums of understanding (MoUs) signed during the three-day event. By: FE Bureau | Gandhinagar | Updated: January 13, 2017 6:55 AM 2 SHARES Facebook Twitter Google Plus

As many as 25,578 MoUs have been signed at this edition of the summit, says Nitin Patel.

As many as 25,578 MoUs have been signed at this edition of the summit, says Nitin Patel. The much-anticipated Vibrant Gujarat Global Summit 2017 came to an end on Thursday, with 25,578 memorandums of understanding (MoUs) signed during the three-day event which saw participation of over 33,000 people from across 10 nations. Giving details of the investments promised during the summit at the valedictory ceremony, Gujarat deputy chief minister Nitin Patel said: “As many as 25,578 MoUs have been signed at this edition of the summit, which is 2,500 more than the number that were signed at the last edition in 2015. The highest number of MoUs were signed for micro, small and medium enterprises (MSMEs) amounting to 18,533 MoUs, followed by 5,938 MoUs for large-scale industries and 1,107 MoUs for technology sharing.” Defence minister Manohar Parrikar, who was also present at the ceremony, congratulated the state government for the summit’s success. Lauding the state and its people, Parrikar said he was aware that Gujarat would not benefit from the Goods and Services (GST) reform as it is a manufacturing state. “But Gujarat is a smart state. The people know it will benefit in the long-term”, the minister added. Of the 25,578 MoUs signed, 381 are in the agro and food processing sector, 493 in animal husbandry, 268 in petrochemicals and chemicals, 190 in education, 94 in engineering and automobiles, 259 in environmental and forests, 93 in financial services, 285 in health, 123 in industrial and logistics parks, 147 in information technology and biotechnology, 409 in minerals, 87 in Port development, 425 in power and gas, 41 in road and railways development, 380 in rural development, 168 in urban housing, 89 in skill development, 28 in Special Investment Regions (SIRs) infrastructure projects, 151 in textile and apparel, 145 in tourism and civil aviation, 1,625 in urban development, 51 in water management and seven in sports and cultural sectors. Gujarat inks MoU for bullet train The Gujarat government has signed an MoU with National High Speed Rail Corporation (NHSRCL) at the Vibrant Gujarat Global Summit 2017 to facilitate component manufacturing for the Ahmedabad-Mumbai bullet train project. The MoU is expected to generate Rs 67,000 crore worth of business in the state. The state will bear 25% project cost and provide land and facilitate implementation of the project. Gandhinagar: Over Rs 50,000 crore worth MoUs for investments and credit were signed at the end of the second day of the Vibrant Gujarat Global Summit with State Bank of India leading the pack.

Prime Minister Narendra Modi addresses the Vibrant Gujarat Global Summit 2017, in Gandhinagar, Gujarat on Tuesday. PTI Prime Minister Narendra Modi addresses the Vibrant Gujarat Global Summit 2017, in Gandhinagar, Gujarat on Tuesday. PTI SBI signed memorandum of understanding with the Gujarat Government for extending bank credit especially in priority sector. Under the MoU country's largest lender will give Rs 30,000 crore worth loans over two-year period, officials announced at the Summit here.

NABARD inked an MoU for rural financing worth Rs 13,000 crore while Union Bank of India entered into a pact with the state government for providing Rs 5,600 crore of bank finance across various sectors.

The investment commitment are besides the Rs 49,000 crore investment Adani Group Chairman Gautam Adani had announced yesterday in expansion of capacity of three ports in the state as well as foraying into water and cement businesses over the next five years.

The BSE and NSE - the two leading stock exchanges in the country, also envisaged an investment of Rs 500 crore each in GIFT City for setting up International Exchange and international clearing corporation.

MRF also plans to invest Rs 4,500 crore in the state over a period of 10 years to set up manufacturing unit.

MCX also outlined setting up of business continuity facility here.

Urban development department has signed 1,575 investment intention with various companies, in the area of domestic real estate and waste management companies.

The summit saw participation from 110 foreign countries, they said. The second day of Vibrant Global Gujarat Summit 2017 sees a total of 24,385 MoUs being signed. The state government did not disclose the investment figures as of now, saying that they were still in the process of collating data. Around 50 MoUs were worth more than Rs 4,000 crore each; 133 MoUs were in the range of Rs 1,000-4,000 crore. The big names included the likes of Amazon India, Tyson Glass (Rs 1,700 crore for fibre-glass manufacturing unit), Tsinghshan Steel (Rs 5,500 crore), Adani Group, Ultratech Cement, Shree Cement, Gulf Mining, Airbus (helicopter manufacturing in Dholera).

Around 89 MoUs worth Rs 16,000 crore being signed in the information technology sector, followed by 54 worth Rs 5,022 crore in the biotechnology sector. In the automobile sector, MRF Tyres signed an MoU worth Rs 4500 crore for setting up a greenfield manufacturing unit in the state with the Gujarat Industrial Development Corporation (GIDC).

MRF chairman and managing director K M Mammen later said that the upcoming manufacturing unit at Bharuch will generate employment for 2,500 people.

Under the MoUs signed in biotechnology, 14 companies commitment investments worth Rs 2,228 crore in pharma and healthcare while four firms made investment intentions worth Rs 2,076 crore in industrial biotechnology.

Companies also signed MoUs for agriculture, infrastructure, environment, bioinformatics and biotechnology instrumentation, with the state government anticipating over 100,000 new employment through these MoUs. The state government also signed 340 MoUs with different companies in food processing sector for cold storage and warehouse projects in Gujarat.

Around 60 French companies evinced interest of investing in Gujarat in sectors like urban transporation, energy and regional air connectivity. On the other hand, the Australian delegation, led by High Commissioner Harindar Sidhu discussed investment opportunities in sectors like education, mining, clean energy, agriculture, water and sports. On the other hand, the action seminar saw young startups initiate deliberation with state government officials on making Gujarat 'Innovators' Paradise' through policy changes. Gujarat Narmada Valley Fertilisers & Chemicals Ltd (GNFC) signed an MoU with Saudi Alfalar for 40 Mw solar plant. Gandhinagar: As the countdown begins to Vibrant Gujarat Global Summit-2017, the state government may sign MoUs worth Rs 30 lakh crore, surpassing the investment pledged during the previous edition in 2015. Already, 21,910 MoUs with investment promises of over Rs 25 lakh crore have been lined up. With a few more days to go, the figure will swell past Rs 30 lakh crore-mark. As many as 21,304 MoUs worth Rs 25 lakh crore were signed in 2015. Carrying on the legacy of previous seven editions, corporate giants domestic and multinationals are ready to make big bang announcements during the biennial summit which will be inaugurated by PM Narendra Modi on January 10 at Mahatma Mandir in Gandhinagar. Home grown biggies like Adani group, Torrent group, Zydus group, Sintex Ltd and Nirma Ltd as well as MRF Ltd, Essar group, Ultratech Cement, Reliance group, GHCL Ltd and NTPC Ltd among others will be announcing their big-ticket investments in Gujarat. MNCs such as Vodafone, China's Pacific Construction group and Sinoma Taishan Fibreglass Inc have also jumped onto the MoU bandwagon. As per the data obtained from reliable sources, billionaire Gautam Adani-controlled Adani group has readied several investment intentions worth over Rs 34,000 crore for projects in renewable energy , port and edible oil. DCS Power Ltd has proposed Rs 40,000 crore for setting up 10,000 MW for canal top solar power projects on Narmada canal and sub-canals. Other mega investments include Rs 75,000 crore by DMC Infrastructure and Rs 37,500 crore by China-based Pacific Construction group. Despite demonetisation taking its toll on the micro, small and medium enterprises (MSME) business, this segment of the industry-like 2015 summit-have come out with a maximum number of MoUs pegged at 16,634 followed by urban development (1431 MoUs), animal husbandry , fisheries and co-operation (422) and mineral based projects (396). Critics have often dismissed the summit as a tamasha with very little MoUs realising in investments on the ground. The government on the other hand claims that out of total 51,738 MoUs (Rs 84.55 lakh crore) signed since the first summit in 2003, 65.86% projects have either been commissioned or are under implementation. The state, however, has not made data public. French aircraft maker Airbus intends to set up a manufacturing facility in the State

GANDHINAGAR: More than 25,000 Memorandums of Understanding (MoU) were inked at the three-day Vibrant Gujarat Summit, which ended on Thursday.

Deputy Chief Minister Nitin Patel said that 25,578 MoUs were signed by various departments and entities of the government with private investors and corporates. Out of these, 18,533 are in the small and medium enterprises sector.

However, the State government has not given the figure of total investments pledged by the investors.

One of the major agreements was with French aircraft maker Airbus, who intends to set up a manufacturing facility in the State. However, according to State government sources, the MoU with Airbus will be implemented only if the company gets a contract with the Defence Ministry for supply of military aircraft and choppers.

Gujarat Chief Secretary Dr. J.N. Singh said the Airbus officials visited the proposed site in Dholera SIR and discussed the project details with Chief Minister Vijay Rupani.

Most MoUs signed at the summit are for expansion of existing projects in the State. Even Central government entities like the Indian Railways, nationalised banks and Public Sector Undertakings have signed MoUs for expansion of their existing projects or providing credit to the industries in Gujarat.

The Indian Railways has signed an MoU pledging investment of Rs. 67,000 crore for the Ahmedabad-Mumbai bullet train project, which was announced in the railway budget.

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