The state government claimed on Monday that 62 per cent of all MoUs (Memorandum of Understanding) signed at Vibrant Gujarat Summits over the years have materialised into investments. As many as 76,512 MoUs were signed at the eight Vibrant Gujarat Summits held between 2003 and 2017. Deputy chief minister Nitin Patel said that of these, 47,594 MoUs had been commissioned. "Investment of more than Rs13.45 lakh committed in the MoUs was made in Gujarat, which created employment opportunities for over 23.67 lakh youths," Patel said. The deputy CM said that 46,078 MoUs were signed at the 2015 and 2017 editions of the Summit, of which 29,702 had been commissioned. Investment of Rs5.73 lakh crore had taken place, and over nine lakh jobs created. Incidentally, in the first seven editions of the Summit between 2003 and 2015, investment proposals worth Rs64 lakh crore were signed. The size of the investment proposals was not declared at the 2017 Summit. While the success ratio of MoUs works out to be 62 per cent if one goes by the deputy CM's assessment, it falls to 21 per cent on comparing the proposed and actual investment. The investment figures cited by him also do not match up with those in government publications. The Socio-Economic Review for 2017-18 says that between January 1983 and July 2017, the state received 15,356 Industrial Entrepreneur Memorandum, Letter of Intent, and Letter of Permission, filed by entrepreneurs, with proposed investment of Rs14.30 lakh crore. "As on July 2017, 6,251 projects were implemented aggregating total investment of Rs2,75,880 crore, and employment of 10,67,405 was generated. In addition, 4,280 projects aggregating investment of Rs9,96,458 crore are under implementation," the Socio-Economic Review says. Nitin Patel's statement about robust investments flowing in the state came after Congress leader Arjun Modhwadia's claim that four lakh industrial units had been shut. "I challenge Arjun Modhwadia to present a list of just 10 per cent of the 4 lakh units that he claims are shut," he said, and accused Congress leaders of resorting to lies ahead of VGS.

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