Gujarat global investor summit 2009 attracts $240 billion in prospective investments

14 January 2009

Ahmedabad: The two-day 'Vibrant Gujarat Global Investors' Summit 2009' hosted by the Gujarat government seems to have far exceeded the expectations of the organisers with investments of Rs12 lakh crore being promised by prospective investors into the state of Gujarat.

Speaking at the valedictory ceremony of the summit, Gujarat chief minister Narendra Modi said over 8,500 Memoranda of Understanding (MoU) were signed between the state government and prospective investors. He said that the investments would create more than 25 lakh job opportunities.

Modi received a standing ovation from the delegates, which included members of foreign delegations and prominent industrialists from both India and abroad.

Reports commended Modi on being able to attract this quantum of investment into the state at a time when the global economic scenario was unfavourable to business the world over.

Modi said that the three earlier 'Vibrant Gujarat' summits in 2003, 2005 and 2007 together managed promises for investment of over Rs6.34 lakh crore, the 2009 summit by itself saw the signing of MoUs that promised investments of Rs12 lakh crore.