28 November , 2021 Fdiindia
Renewable Energy To Headline Next Year Vibrant Gujarat Summit
National hydrogen mission, renewable energy and sustainable infrastructure will be the primary areas of focus of the biannual Vibrant Gujarat Global Summit (VGGS), which has already witnessed the Gujarat state government signing MoUs with 20 companies amounting to Rs. 25,000 crore, Gujarat Chief Secretary Pankaj Kumar said.
Prime Minister Narendra Modi will inaugurate the 3-day VGGS 2022 at Gandhinagar on January 10, 2022, that would invite investments into the state. “The focus areas of VGGS 2022 would be the key national initiatives and topics of global relevance that includes sustainable infrastructure and manufacturing, national hydrogen mission, renewable energy, electric mobility and futuristic technologies,” Kumar said in an interview.
He stated that close to 70% of the MoUs signed with firms at the Summit get realized over a period of time, considering it as a good success rate.
“It depends on the type of project. Some projects have a very long gestation period. It may take many years. One has to see over a period of time. So, this 70 percent is generally the realization that we achieve,” he said.
“Just in the last week itself, we have signed MoUs with 20 companies worth around Rs. 25,000 crore. This is the first set of MoUs that we have signed. And on every Monday, till VGGS 2022 on January 10, we will have MoUs signed,” he said.
“Last financial year 2020-21 was the year of the pandemic. In spite of that, 37% of the total FDI across states in India came to Gujarat. In absolute numbers, it was $21.9 billion,” he said.
“The whole world is recovering from the pandemic. So, there should be an increase in FDI inflow in this financial year,” he added.
VGGS 2022 would mainly feature organizations from sectors such as renewable energy, chemicals, food processing and financial services, Mr. Kumar said.
The realization figure has been compiled after analyzing the last few VGGS. 28,360 MoUs were signed during the last VGGS in 2019 while 25,578 were signed during VGGS 2017. The 10th edition of the VGGS would have a central theme of “Atmanirbhar Gujarat to Atmanirbhar Bharat (Self-reliant Gujarat to Self-reliant India)”.
“There will be a lot of companies from countries such as the USA, UK, France, Germany, Sweden, Netherlands, UAE, Switzerland, Italy, Qatar and Saudi Arabia which will be participating in VGGS 2022,” he further added.
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