Chief Secretary, Energy News, ET EnergyWorld
New Delhi: Sustainable infrastructure, renewable energy and the national hydrogen mission will be among the focus areas of the biennial World Vibrant Gujarat Summit (VGGS), which has already seen the state government sign protocols for agreement with 20 companies worth 25,000 crore rupees, the chief secretary of Gujarat, Pankaj told Kumar.
About 70 percent of memoranda of understanding signed with companies at the summit materialize over a period of time, Kumar said, describing it as a good success rate.
Prime Minister Narendra Modi will inaugurate the three-day VGGS 2022 in Gandhinagar on January 10, which aims to attract investment to the state in all sectors.
“The focus areas of VGGS 2022 would be key national initiatives and topics of global significance that include sustainable infrastructure and manufacturing, the national hydrogen mission, renewable energy, electric mobility and futuristic technologies.” , Kumar told PTI in an interview here.
He said the state government has already started signing memorandums of understanding with companies.
âJust last week, we signed MoUs with 20 companies worth around Rs 25,000 crore. This is the first set of MoUs we have signed. And every Monday , until VGGS 2022 on January 10, we will have signed MoUs, “he said.
The main sectors in which companies would participate in VGGS 2022 would be renewables, chemicals, food processing and financial services, he said.
“I can tell you that about 70 percent of the MoUs signed during VGGS come to fruition. And that’s a good success rate,” he said.
“That (the fruition) depends on the type of project. Some projects have a very long gestation period. It can take many years. You have to see over a period of time. So that 70 percent is usually the achievement that we get. “, he mentioned.
This is what happened at 70% when analyzing the MoUs of the last VGGS, he said.
A total of 28,360 MoUs were signed at the last VGGS summit in 2019, while 25,578 MoUs were signed at the 2017 VGGS.
The 10th edition of VGGS would be themed “Atmanirbhar Gujarat in Atmanirbhar Bharat (Autonomous Gujarat in Sel-dependent India)”, he said.
“Many companies from countries such as United States, United Kingdom, France, Germany, Sweden, Switzerland, Netherlands, Italy, United Arab Emirates, Saudi Arabia and Qatar will participate in VGGS 2022, “he said.
When asked how many jobs were generated by VGGS, he said: âAccording to the NSO investigation report, we currently have the lowest unemployment rate in India at 3.4%. These are the latest figures. Dynamic Gujarat has been the most influential factor in job creation.
Because of this pace and type of industrialization, both direct and indirect unemployment is generated, he said.
The overall unemployment rate is the best indicator to judge or assess the combined effect of government intervention in job creation, he said.
The first Vibrant Gujarat Summit was held in 2003, when Modi was the Chief Minister of Gujarat.
âThe last fiscal year 2020-21 was the year of the pandemic. Despite this, 37% of the total FDI in Indian states came to Gujarat. In absolute numbers, it stood at $ 21.9 billion (one billion equals 100 crore), “he noted.
“The whole world is recovering from the pandemic. So there should be an increase in FDI inflows during this fiscal year,” he added.