Vibrant Gujarat Summit 2024 Witnesses Record-Breaking MoUs: ₹26 Trillion in Investments, Including ₹5 Trillion by Reliance and ₹2 Trillion by Adani

Vibrant Gujarat Global Summit 2024 Concludes with Record-breaking MoUs

Gandhinagar’s Mahatma Mandir hosted the closing ceremony of the Vibrant Gujarat Global Summit today, inaugurated by the Prime Minister of India, Narendra Modi, on January 10th. The summit saw the presence of Presidents, CEOs, and delegates from various countries and companies. The closing ceremony, attended by Union Home Minister Amit Shah and Chief Minister Bhupendra Patel, marked the end of the summit. During this Vibrant Summit, a record-breaking 41,299 Memorandums of Understanding (MoUs) were signed, amounting to a total value of 26.33 lakh crores.

Highlights of the Vibrant Summit include the participation of 135 partner countries, breaking the previous records. A total of 50% of the MoUs are dedicated to green growth initiatives. With a whopping 98,540 projects, the MoUs signed exceed 45 lakh crores in value. This Vibrant Summit has established partnerships with 135 countries, making it the largest gathering of partner countries to date. The event featured 3500 events, 77 seminars, participation from 17 ministers of the Indian government, 2800 business-to-business meetings, and 1300 business-to-government meetings. Noteworthy MoUs include investments from Reliance (5 lakh crores), Adani (2 lakh crores), and NTPC (90 thousand crores).

MoUs Worth 26.33 Lakh Crores Signed in Vibrant Gujarat Global Summit:

It’s noteworthy that amidst the vibrancy of the Vibrant Gujarat Global Summit in 2022, 57,241 projects with a cumulative worth of 18.87 lakh crores were signed as MoUs due to the ongoing impact of the pandemic. In contrast, the 10th edition of the Vibrant Summit in 2024 has achieved a significant milestone with 41,299 projects and a record-breaking 26.33 lakh crores in MoUs for investments. The total includes 98,540 projects valued at over 45 lakh crores, setting a new record for MoU signings in Gujarat.

Role of MSME:

• Gujarat’s Micro, Small, and Medium Enterprises (MSME) sector has emerged as the backbone of the state’s industrial landscape.

Vibrant Gujarat’s Global Impact:

• Vibrant Gujarat has become a global summit since its inception in 2003, and over the past 20 years, it has consistently expanded its influence.
• The MSME sector in 32 districts has been a key focus, with Vibrant Districts also being organized.

International Collaboration:

• The summit saw the participation of the President of the UAE, strengthening ties with the signing of several significant MoUs.
• The “Gate to Global Future” initiative has positioned Gujarat as a gateway to the future.

Green Growth and Sustainable Development:

• Emphasizing the commitment to sustainable development, 50% of MoUs are dedicated to green growth initiatives.

Vision for the Future:

• Gujarat has presented the “Roadmap 2047” for its development, and the Vibrant Gujarat summit has played a pivotal role in realizing the Prime Minister’s vision.

The Vibrant Gujarat Global Summit continues to be a platform for forging partnerships, promoting economic growth, and showcasing Gujarat as a global business destination.