Over 17,000 MoUs promise 3.7 lakh jobs

Unlike previous five summits, the government this time chose not to announce the investments pledged in MoUs

In a shift from the practice of announcing investments pledged at the end of Vibrant Gujarat summits, the state government this time chose to declare only the number of intentions of investment and projected scale of employment generation.

The 6th edition of the Vibrant Gujarat Global Investors' Summit, in which small and medium enterprises (SMEs) were one of the focus areas, saw signing of 17,719 memoranda of understanding (MoUs), most of them in the SME sector.

"The event has proved to be a benchmark as it has been the biggest so far in every term, be it the number of events, speakers, participant countries, footfall, size of exhibition and delegation, or number of strategic partnerships," said Principal Secretary (Industries) Maheshwar Sahu at the valedictory function Saturday.

He said that "85 per cent" of the total MoUs signed are related to the SME sector. "This will be

realised within the next three commercial year," Sahu added.

While in the first five editions of the biennial event that started in 2003, investments pledged determined the summit's success, this time, strategic partnerships and the number of employment that the MoUs signed would generate took centrestage.

The number of intentions of investment signed in this summit jumped to 17,719 from 8,380 witnessed in the 2011 edition.

These MoUs are expected to provide jobs to nearly 3.73 lakh people. In 2011, this figure stood at 2,28,670.

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