Ahmedabad, March 21 : Ahead of the 10th Vibrant Gujarat Global Summit, the state government has signed a total of 55,860 projects with a proposed investment of Rs 9.45 lakh crore, Industries Minister Balwantsinh Rajput said.

Of these, 32,801 projects have already been commissioned, 13,051 are in the initial stages, and 6,217 are under implementation, he informed the Legislative Assembly.

Minister Rajput emphasised the impact of the biennial summit, first launched in 2003 under then Gujarat Chief Minister and current Prime Minister Narendra Modi.

He credited the initiative for transforming Gujarat into a preferred destination for multinational companies and positioning it as a model of economic development for the nation.

Highlighting the state's investor-friendly policies, the minister outlined various incentives, including the development of transportation networks, industrial parks, and digital infrastructure.

He also noted that Gujarat has introduced sector-specific policies and an online single-window portal to facilitate investors.

During the recently concluded 10th edition of the summit in 2024, the state government signed MoUs amounting to an estimated Rs 47 lakh crore, further reinforcing Gujarat's position as an investment powerhouse, Minister Rajput added.

The first summit in 2003 laid the foundation for Gujarat's economic transformation, securing investment commitments worth Rs 66,000 crore.

The momentum continued with the 2005 edition, which saw an increase in participation and investment proposals exceeding Rs 1 lakh crore. By 2007, the summit had gained international recognition, attracting 300 foreign delegates from 25 countries and securing MoUs worth Rs 4.6 lakh crore.

The 2009 summit marked a milestone with over 600 MoUs signed, translating into investment proposals worth Rs 12 lakh crore.

In 2011, the summit reached new heights, attracting participation from over 100 countries, with investment intentions totalling Rs 20.83 lakh crore. The 2013 edition saw a further expansion, with a focus on knowledge sharing, urban development, and sustainable growth.

The 2015 summit, held after BJP leader Narendra Modi became Prime Minister, positioned Gujarat as a key global investment hub, with participation from major economies, including the US, UK, Canada, Japan, and Australia.

The 2017 edition saw the highest-ever foreign presence, with over 25,000 participants from 100 countries and investment proposals crossing Rs 56 lakh crore.

/IANS