GANDHINAGAR, 26th July: In a significant boost to the state's economy, the Gujarat government on Wednesday confirmed the signing of six Memorandum of Understandings (MoUs) totalling an investment of Rs 1,360 crore. The signing, which took place in Gandhinagar, witnessed the presence of Chief Minister Bhupendra Patel.
Leading companies from the engineering, textile, and pharmaceutical sectors have shown their commitment to invest in Sanand GIDC Phase-II. Specifically, three industrial giants from the engineering domain have pledged a combined investment of Rs 775 crore, promising approximately 700 job opportunities.
Additionally, an agreement worth Rs 294 crore is set to revitalize the textile sector, projecting employment for around 1,800 individuals. Meanwhile, the pharmaceutical sector is expected to receive an influx of Rs 290 crore from two prominent industries, generating potential jobs for nearly 500 people.
This series of MoUs is a precursor to the 10th Vibrant Gujarat Global Investor Summit, slated for January 2024. A brainchild of Prime Minister Narendra Modi, the summit aims to position Gujarat as a premier investment destination. Preparations are in full swing, with MoUs already being inked with diverse industries. Key state officials including Industries Minister Balwant Singh Rajput and State Minister Harsh Sanghvi were in attendance, with the MoUs being formally signed by S.J. Haider, Additional Chief Secretary of Industries Department, along with senior CEOs and MDs from the respective industrial houses.
The industry leaders hailed the proactive governance of Chief Minister Bhupendra Patel, attributing their swift investment decisions to the efficient approval processes in place. The state's stable labour environment and the availability of a skilled workforce were cited as prime factors for choosing Gujarat as their expansion base. Notable investors include ArcelorMittal Nippon Steel India Limited and Ingersoll-Rand (India) Limited in engineering, Bio Genomics Ltd. and OmniBRX Biotechnology Pvt. Ltd. in pharmaceuticals, and World Wide Safety Pvt. Ltd. in textiles.
The occasion also saw the participation of Raj Kumar, Chief Secretary, K. Kailashnathan, Chief Principal Secretary to the Chief Minister, Rahul Gupta, Managing Director of Gujarat Industrial Development Corporation (GIDC), Sandeep Sagale, Industries Commissioner, and senior officers from the Industrial Extension Bureau (Index B).
