Vibrant Gujarat Summit 2011 was held on 11th January. Within a few hours MoUs wort Rs. 15 lakh crore were signed which included electricity, bank, finance, oil and gas, auto ,etc. In the inaugural function many well known faces of corporate world were present and all praised Narendra Modi for his efforts.
Though if you take a look into the findings of an audit done by former Gujarat CM and BJP leader Suresh Mehta you will see that only 25% of the deals signed in the summits held since 2003 have been successful.
Out of 9,326 MoUs signed in the last four summits, only 844 have been implemented and 1,432 projects are under various stages of implementation. During the summit 2009, 8,660 MoUs were signed but only 543 projects materialized and 1,238 are under implementation.
Mehta said, Gujarat had traditionally been at the forefront in attracting moneybags, getting more than 20% of the investment in the country at any point of time, and that continued irrespective of whether such summits were held.
An IIM Ahmedabad professor said "The Vibrant Gujarat platform is meant for marketing the government's achievements by inflating figures of investment".