Gandhinagar, Jan 13 (IANS): Chief Minister Narendra Modi announced investment promises of Rs.20,83,000 crore ($462 billion) through 7,936 memoranda of understanding (MOUs), expected to generate employment opportunities for 5.2 million people as the fifth Vibrant Gujarat Global Investors summit 2011 ended here Thursday.

"Fifty-four per cent of these MOUs have been signed by small and medium enterprises (SMEs)," he said.

The previous edition of the summit in 2009 had resulted in about 4,000 MoUs being signed for investments worth Rs.12,00,000 crore (about $243 billion).

Though the final break-up was still not forthcoming, Modi said that the maximum investment promises had come from the infrastructure sector. According to official sources, 655 MOUs had been signed in the urban development and infrastructure sector with investment promises worth Rs.2,26,000 crore and water resources and water conservation sector accounting for 33 MOUs worth Rs.33,796.90 crore.

In the health and pharma sector, 127 MOUs worth Rs.26,000 crore were signed. While 31 companies accounted for Rs.15,600 crore worth of MOUs in the health sector,90 pharma companies made for investment promises worth Rs.10,686 crore during the summit.

According to the state's Industries Secretary M. Sahu, 101 countries and 1,400 foreign delegates participated in the global business hub event and 479 institutional tie-ups and knowledge sharing agreements were finalised. "A total of 470 MOUs were signed in the social sector while the event realised 30 projects to come up outside the state. This event has helped Gujarat companies to go international," he added.

Speaking at the valedictory function, Modi said that he would like to dedicate the outcome of this summit to the youth and mothers of Gujarat. "I have set up mission Mangalam as a tool of inclusive growth. Two lakh sakhi mandals have been set up in the state in the last two years to empower women so that they become partners in growth," he said.

The chief minister said that as part of corporate social responsibility (CSR), 34 top corporate houses of the country have signed MOUs to invest Rs.20,000 crore in training 15 lakh women, ensuring jobs and creating a market for their products, he added.

Modi said that the entire effort of the government was geared to enriching the knowledge basis of the youth so that they can rise to take advantage of the opportunities coming their way through the investment creation effort being undertaken in Gujarat.

"I want to see Gujarat emerge not only as a front-runner driving India's engine of growth but also as a powerful state of India able to stand up for itself in the comity of nations," he added.