57% of projects signed during VGGS 2024 commissioned: Govt

Gandhinagar: As many as 98,970 memoranda of understanding (MoUs) were signed during the 10th edition of the Vibrant Gujarat Global Summit (VGGS) in Jan 2024, out of which 56,529 projects (57.1%) were commissioned, the govt informed the assembly on Friday. The 10th edition of the VGGS was held after a gap of five years because of the Covid-19 pandemic.In response to a question, the govt also informed that companies made an investment of Rs 6.95 lakh crore as part of the MoUs signed during the VGGS.Meanwhile, 5,008 projects for which MoUs were signed failed to take off and were dropped, implying that about 5% of the projects did not fructify. A majority of the MoUs signed — 78% — were in the MSME sector, the govt informed in a written reply to a question by MLA Dinesh Thakor.In reply to another question in the assembly, the state govt said that in VGGS summits from 2003 to 2019, a total of 55,860 MoUs were signed. Of these, as of Dec 31, 2024, 32,801 projects (58.72%) were commissioned while 13,051 (23.36%) were still in various stages of implementation.