As many as twenty-nine small and medium sector units signed as many memoranda, while the balance, including 22 MoUs in the infrastructure sector, were signed by large companies. Five MoUs were signed in non-capital investments covering areas such as continuing operation, market access, and technology transfer, among others, Additional Chief Secretary C K Koshi told reporters today.

He said that on the first day six MoUs were signed, while the second day witnessed the signing of 28 after foreign companies got a good response. On the third day, some 73 MoUs were signed till afternoon. The Gujarat Industrial Investment Corporation (GIIC) Limited signed the biggest MoU, involving US $ 1.7 billion (about Rs 400 crore) with UNOCAL Bharat Limited.

During the meet, 75 foreign delegates representing over 20 countries were matched by 158 delegates from companies in the State. The GIIC and the United Nations Industrial Development Organisation (UNIDO) organised as many as 1,300 one-to-one meetings between foreign delegates and State entrepreneurs.

The most important spin-off, according to Koshi, was Union Industry Minister Sikander Bakht's announcement of Gujarat's selection for the first Technology Based Small Enterprises (TBSE) project, to be funded by the Central Government and SIDBI. Bhatt had said that in a couple of months the Centre would start operating to follow the 73 MoUs signed and would continue the match-making efforts.

Chief Minister Keshubhai today visited the venue and talked to foreign delegates about their impressions about the meet. In his presence, 15 MoUs were signed and exchanged.

GIIC managing director R Banerjee said all the major areas were covered. Seven MoUs were singed by GIIC covering the infrastructure sector; eight MoUS, including six by GAIC, related to the agro-industry sector, while five were signed in communications (four by GCL); three in software; five in general consultation, one each in fishery and tourism and eights MoUs were singed on ports-related business, pharmaceuticals, chemicals, granite, machinery enhancement, among others.

The UK signed 13 MoUs, the USA 11, Canada four, Korea and Singapore three each, Slovenia and Japan six each. Italy, Germany, France, the Netherlands and others collectively signed 18 MoUs.

Interestingly, trade organisations from Japan, Slovenia, Germany, Switzerland and Singapore attended all three days of the trade fair.