Updated on  Dec 14, at 4.27 p.m.

Around 26,000 out of the total one lakh or more MoUs (Memorandum of Understanding) signed at the nine Vibrant Gujarat summits have been rejected, as per official figures.

Several reasons for the MoUs to be rejected have come to light, from the company’s deteriorating financial condition to time and system lapses in allocating land to delays in availing permits from pollution, fire, or similar boards.

Approx 35% of the MoUs have been dropped till date over various reasons, while 20% of the projects are yet to commence.

A total investment of around ₹100 lakh cr was reportedly made during these nine summits.

No official track of MoUs and their actual investments

The 20,000 or more MoUs in the education sector had no monetary investments in them, yet they were categorised as MoUs.

The government has not released any figures for investments in the dropped projects.

The official figures further indicate that out of the 75,362 MoUs signed, 70% of them were claimed to be either commissioned or implemented.

The state government’s industry and affiliated departments have put up a team to scrutinise and verify the monetary ability of the firms to invest in projects in Gujarat, a prerequisite before signing an MoU.

Updated on Sept 16, at 7.30 p.m.

The statement issued by the government in the state assembly on Sept 15 reads that only ₹21,556.97 cr were invested against the MoUs amounting to ₹9,45,158.68 cr signed in the Vibrant Summit.

In the first year, only four sectors were invested in, while investment only in the MSME sector was made in the second year.

No investment in Vibrant Summit MoUs?

Answering the question raised by Congress MLA Shailesh Parmar, the government issued the sector-wise annual overall data of investments made, and MoUs signed in the last two years before the tenth Vibrant Summit was organised.

The presented data showed that from Aug 1, 2021, to July 31, 2022, MoUs worth ₹9,45,158.68 cr were signed.

But during this tenure, only an investment worth ₹21,556.97 cr has been made out of them.

In the second year, i.e., from Aug 1, 2022, to July 31, 2023, MoUs worth ₹79,125 cr were signed, out of which an investment of only ₹30 lakh was made.

The data further stated that during the Vibrant Summit, 55,860 projects were signed off, out of which only 19,069 have started operations, while 31,832 are in their primary stage.

Investments merely in MSMEs; Absolute zero in most sectors

These 55,860 projects were signed in 25 various sectors. As of today, 21 out of those have not received any investment whatsoever.

The four remaining sectors have received an investment worth ₹21,557 cr, out of which a hefty ₹20,055 cr only goes to the MSME sector.

Similarly, MoUs were signed in the second year worth ₹79,125 in 47 different projects in 8 sectors, out of which only an investment of ₹30 lakh was made, again in the MSME sector.

August 2021 - July 2022 Figures:

August 2022 - July 31, 2023 Figures:

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