AHMEDABAD: The Gujarat Legislative Assembly Budget Session concluded with the revelation of the expenditure details for the Vibrant Summit.
Anklav MLA Amit Chavda inquired about the summit's details, including its dates, expenses, and the number of investment pledges across sectors.
In response, the Industries Minister provided the figures: the summit, held from January 10 to 12, 2024, cost Rs 114.53 crore. The event attracted 98,970 companies from 26 sectors, with investment commitments totaling Rs 47.51 lakh crore.
Petrochemicals led with 3,263 MoUs worth Rs 5.35 lakh crore, followed by minerals with 4,084 MoUs totaling Rs 1.44 lakh crore.
Despite the government investing crores in the Vibrant Summit, a significant number of investment MoUs are being scrapped. Industries Minister Balvantsinh Rajput disclosed in the Assembly in March 2025 that 5,008 MoUs were withdrawn within a year of the 2024 Vibrant Gujarat Global Investors Summit.
During Question Hour, Rajput provided the details. Of 98,970 MoUs signed at the 2024 summit, projecting Rs 9.45 lakh crore in investments, 56,529 MoUs are being executed, channeling Rs 6.95 lakh crore into projects. Additionally, Rs 3.28 lakh crore worth of investments tied to 13,707 projects are still in the preliminary phase.
Congress MLA Shailesh Parmar sought clarification on how many MoUs had been completely abandoned. While Industries Minister Rajput maintained that investors only express intent, his written responses revealed a different story — 5,008 MoUs were officially scrapped.
The tenth edition of the Vibrant Gujarat Summit saw a surge in MoUs across various sectors, with large-scale projects leading the way. The Agro-Food sector secured 1,036 agreements, Animal Husbandry and Fisheries locked in 1,817, and the Chemical, Petrochemical, and GIDC large projects segment saw 3,263 MoUs. The Mineral-Based Industries sector topped the list with 4,084 MoUs. Other critical sectors included education with 662 MoUs, engineering and auto with 563, and healthcare and pharma with 446.
The power, oil, and gas sector witnessed 1,061 agreements, urban development soared with 4,852, and environment, climate change, and forests attracted 916. Infrastructure commitments also surged — road and rail saw 182 MoUs, rural development and housing 711, and industrial parks, logistics parks, and mini estates 173.
Beyond large-scale ventures, MSMEs dominated with 52,051 MoUs under MSME-IC and 25,193 under MMME-GIDC, pushing the grand total to a staggering 98,970 agreements.