MoUs worth $462 bn signed in Vibrant Gujarat: Modi
By IANSThursday, January 13, 2011
GANDHINAGAR - A staggering 7,936 memorandums of understanding (MoUs) for Rs.20,83,000 crore (about $462 billion) worth of projects have been signed in the two-day Vibrant Gujarat Global Investors Summit, Chief Minister Narendra Modi announced at the valedictory function Thursday evening.
The whopping investment would also result in about 5.2 million additional jobs, Modi added.
The previous edition of the summit in 2009 had resulted in about 4,000 MoUs being signed for investments worth Rs.12,00,000 crore (about $243 billion).
The investments on account of this year’s Vibrant Gujarat Summit are higher than India’s foreign exchange reserves estimated at around $300 billion, though how many of these MoUs turn into actual projects is a matter of conjecture.
With the who’s who of India’s corporate world in attendance here, the chief minister told the summit that the 21st century belonged not just to India, but also the larger Asia and Africa.
