Congress-ruled Karnataka finds Vibrant Gujarat Summit an opportunity and garnered a combined investment of Rs 50,100 crores in sectors like IT, education, tourism infrastructure, solar energy and aerospace. An official of the State industry department said that it was a fruitful venture for the State."
A statement by the industry department said, “A high-level delegation, led by Commerce and Industry Secretary K Ratna Prabha, held meetings with potential investors and signed agreements with 12 firms for collectively investing Rs50,100 crore across sectors in the State.”
According to State Industry Department Hydro Design Management Company ltd has expressed interest in investing Rs10,000 crore for a 1,000 MW pumped storage hydro project, Rare Earth Holdings ltd to invest Rs9,300 crore for a lNG terminal and Convalt Energy India ltd to invest Rs6,200 crore for a 900 MW pumped storage hydro project.
Similarly, Hydro Design Management Company ltd has proposed to invest Rs2,000 crore on 100 MW wave energy project, Sunihar Enterprises ltd to invest Rs1,000 crore for an IT park, Sunihar Enterprises ltd to invest Rs1,000 crore to build a smart city, and Envee Developers to invest Rs900 crore to set up a medicity.
Florida-based Creative Choice Group has proposed to invest Rs5,650 crore to build industrial infrastructure infocity in the State's northern and southern regions. "The 75-member official-cum-business delegation networked with participants and flagged advantages of investing in the State. The delegates also interacted with a large number of overseas and domestic firms and explored new deals," the statement added.
The official delegation met members of the India-China council for economic cooperation, Singapore business federation and an Israeli delegation at the summit. The delegation led by Karnataka Minister for Higher Education RV Deshpande said the Vibrant Gujarat Summit was an opportunity and the delegation had fruitful interaction with many companies and expressed interest in the State for investment.
According to K Ratna Prabha Additional chief secretary the State delegation interacted with a large number of companies and delegations to attract investments into the State and were successful in getting a break .
In the three-day Vibrant Gujarat Summit large conglomerates from India and abroad announced huge investment to India. Vibrant Gujarat Summit (VGS) is a biennial global business summit, being held since 2003, when Modi was Chief Minister of the State, and has always seen huge investment commitments running into billions of dollars being announced by business leaders from India and abroad. The ruling Congress Government captained by Chief Minister Siddaramaiah finds this an opportunity and had evinced interest among top industrialists to invest in Karnataka.
The seventh edition of the Vibrant Gujarat Global Summit in Gandhinagar was bigger and more impressive than all the previous editions as over 21,000 Memorandum of Understandings (MoUs) worth Rs25 lakh crore have been signed. Over 25,000 delegates from India and 110 countries attended the event. United Nations Secretary General Ban Ki-moon, US Secretary of State John Kerry, over 300 CEOs and world leaders attended the event.
US Secretary of State John Kerry said, "I can feel the vibrancy in Gujarat. And I am sure that Gujarat and events like this one will lead the way in India's overall development."