Vibrant Gujarat Summit...7,936 MOUs signed

Gujarat Chief Minister Narendra Modi reportedly said that about 7,936 memorandums of understanding (MoUs) were signed for Rs. 20,83,000 crore at Vibrant Gujarat Summit 2011. Reports stated that the whopping investment would also result in about 5.2 million additional jobs. The previous edition of the summit in 2009 had resulted in about 4,000 MoUs being signed for investments worth Rs 12,00,000 crore (about US$243bn). The reports stated that on the first day of the 2011 edition MoUs worth about 15 lakh crores were signed between industrialists and the State Government. Gautam Adani said he would invest over Rs 800bn in ports, power and infrastructure projects. Reports said that industry leaders such as Anil Ambani, Mukesh Ambani, Ratan Tata, Adi Godrej, A.M. Naik, GVK Reddy, Ajit Gulabchand and Anand Mahindra also announced their plans.