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Vibrant Gujarat Summit Record 4,000 MoUs to be signed! [icon name=icon-calendar]January 2nd, 2009 [icon name=icon-user]admin [icon name=icon-briefcase]Posted in Uncategorized
THE Vibrant Gujarat Summit, which will put special focus on the micro, small and medium enterprises (MSMEs) of the state, will see a record 4,000 MoUs signed during the event. The MoUs to be signed under the MSME category alone promise to generate close to 9 lakh direct and indirect jobs. Thus, employment-generati on target this time will be much higher than 13 lakh jobs set during the last summit. The number of MoUs is much higher than the 363 MoUs signed during the last summit held in 2007. This is mainly because the MSME segment alone will see more than 3,000 MoUs. MSMEs will promise to generate 2 lakh direct employment. A top-level meeting was held on Wednesday between state government and industry representatives, and it was learnt that the state has received 4,000 investment proposals. “Although recession has gripped the world economy, Vibrant Gujarat event will be a grand success. We have finalised 4,000 proposals for MoUs and new proposals are still pouring in. However, investment is secondary for us this time because the state is concentrating on primarily employment generation,” sources told ET. According to industrial sources, MoUs up to Rs 10 crore will be categorised under the MSME category while MoUs worth more than Rs 10 crore will be put under the respective sector heads. Industry associations have received hundreds of proposals in the last 20 days. The Federation of Industries Associations (FIA) and Gujarat Chamber of Commerce & Industry (GCCI) are looking after the MSME participation in the high-profile summit. “This is the first Vibrant Gujarat event in which MSMEs are participating. The state has a large number of MSMEs and we are receiving good response from them. Till now, close to 3,000 MSME units have decided to sign MoUs at the summit. More than 4,000 MoUs will be signed from MSME and large industries,” FIA president Kirit Mehta told ET. However, he added that still many companies were finalising their investment proposals and the numbers might increase. At the 2007 event, total 363 MoUs were signed which promised to create more than 13 lakh jobs. “However, this time the scenario will change as only MSMEs will sign around 3,000 MoUs with promise to generate 2 lakh direct and 5-7 lakh indirect employment,” a top official of GCCI added. A special MSME exhibition will attract visitors. MSMEs have been given 99 stalls for the exhibition. However, players are enthusiastic and the stalls have been over-booked. “MSME companies are willing to book space in the summit and we are finding it difficult to provide stalls to everyone,” Mr Mehta added.

Vibrant Gujarat Summit Record 4,000 MoUs to be signed!

[icon name=icon-calendar]January 2nd, 2009 [icon name=icon-user]admin [icon name=icon-briefcase]Posted in Uncategorized

THE Vibrant Gujarat Summit, which will put special focus on the micro, small and medium enterprises (MSMEs) of the state, will see a record 4,000 MoUs signed during the event. The MoUs to be signed under the MSME category alone promise to generate close to 9 lakh direct and indirect jobs. Thus, employment-generati on target this time will be much higher than 13 lakh jobs set during the last summit.

The number of MoUs is much higher than the 363 MoUs signed during the last summit held in 2007. This is mainly because the MSME segment alone will see more than 3,000 MoUs. MSMEs will promise to generate 2 lakh direct employment.

A top-level meeting was held on Wednesday between state government and industry representatives, and it was learnt that the state has received 4,000 investment proposals. “Although recession has gripped the world economy, Vibrant Gujarat event will be a grand success. We have finalised 4,000 proposals for MoUs and new proposals are still pouring in. However, investment is secondary for us this time because the state is concentrating on primarily employment generation,” sources told ET.

According to industrial sources, MoUs up to Rs 10 crore will be categorised under the MSME category while MoUs worth more than Rs 10 crore will be put under the respective sector heads. Industry associations have received hundreds of proposals in the last 20 days.

The Federation of Industries Associations (FIA) and Gujarat Chamber of Commerce & Industry (GCCI) are looking after the MSME participation in the high-profile summit. “This is the first Vibrant Gujarat event in which MSMEs are participating. The state has a large number of MSMEs and we are receiving good response from them. Till now, close to 3,000 MSME units have decided to sign MoUs at the summit. More than 4,000 MoUs will be signed from MSME and large industries,” FIA president Kirit Mehta told ET. However, he added that still many companies were finalising their investment proposals and the numbers might increase.

At the 2007 event, total 363 MoUs were signed which promised to create more than 13 lakh jobs. “However, this time the scenario will change as only MSMEs will sign around 3,000 MoUs with promise to generate 2 lakh direct and 5-7 lakh indirect employment,” a top official of GCCI added.

A special MSME exhibition will attract visitors. MSMEs have been given 99 stalls for the exhibition. However, players are enthusiastic and the stalls have been over-booked. “MSME companies are willing to book space in the summit and we are finding it difficult to provide stalls to everyone,” Mr Mehta added.