As the Gujarat government is hosting the 10th Vibrant Gujarat Global Summit, major companies, including Reliance, Adani, Maruti Suzuki India, DP World, have committed investments in the state, ranging from setting up of manufacturing plants to shifting to green energy.
The Gujarat government is hosting the 10th Vibrant Gujarat Global Summit 2024 between January 10 and 12, 2024, at Helipad Ground, Gandhinagar. Generally, it takes place every two years. However, this is the first Vibrant Gujarat Summit happening after a five-year hiatus due to the COVID-19 pandemic. The previous Vibrant Gujarat Summit took place in 2019.
As part of the Summit, the Vibrant Gujarat Global Trade Show 2024 will see participation from 100 countries as visiting nations, while 33 countries will join as partners. Following are the pacts and investment commitments so far:
India-UAE Pacts
A bilateral meeting was held between Prime Minister Narendra Modi and United Arab Emirates President Mohamed bin Zayed Al Nahyan here on Tuesday where several MoUs were signed. The UAE president is the chief guest at the 10th edition of the Vibrant Gujarat Global Summit (VGGS) which will be inaugurated by PM Modi at Mahatma Mandir Convention Centre in Gandhinagar on Wednesday.
Maruti Facility To Be Set Up 2nd Manufacturing Facility in Gujarat
Maruti Suzuki India (MSI) will invest Rs 35,000 crore to set up its second manufacturing facility in Gujarat as it looks to ramp up annual production capacity to over 40 lakh units by 2030-31, Suzuki Motor Corporation President Toshihiro Suzuki said on Wednesday.
Speaking here at the 10th Vibrant Gujarat Global Summit (VGGS), Suzuki said the plant would have an installed production capacity of 10 lakh units per annum.
“We will invest Rs 35,000 crore for the construction of a second car plant in Gujarat which would produce another one million units per year,” Suzuki said.
The new plant is expected to start operation in FY2028-29. Details of the location and the models to be produced will be shared in due course.
Currently, the auto major has a cumulative production capacity of around 22 lakh units per annum across its two manufacturing plants in Haryana and Gujarat. The two plants in Haryana — Gurgugram and Manesar — together roll out around 15.5 lakh units per annum.
Adani Investments In Green Energy
Billionaire Gautam Adani on Wednesday announced an investment of over Rs 2 lakh crore in Gujarat, largely in building a green energy park that would be visible even from space. Speaking at the Vibrant Gujarat Global Summit here, he said the investment will create 1 lakh jobs.
Of the Rs 55,000 crore committed at the last summit, Adani Group has already spent Rs 50,000 crore, he said. The apples-to-airport group is now building a green energy park in Kutch having a 30 GW capacity spread over 25 square kilometre which would also be visible from space, he added.
Since 2014, India has achieved a 185 per cent growth in GDP and 165 per cent growth in per capita income which is unparalleled given the geopolitical and pandemic-related challenges, Adani said.
Tata To Set Up Semiconductor Facility
Tata Group will build a semiconductor factory at Dholera in Gujarat, Tata Sons Chairman N Chandrasekaran said on Wednesday. Speaking at the 10th Vibrant Gujarat Global Summit here, he said the group is about to start a 20 GW gigafactory for manufacturing lithium ion batteries in Sanand in two months.
The group, he said, has also made a commitment and is on the verge of concluding, and announcing a huge semiconductor fab in Dholera. “We are about to complete negotiations for the semiconductor fab, and start in 2024,” he said.
Reliance To Set Up India’s First Fibre Facility At Hazira
Billionaire Mukesh Ambani on Wednesday said his company Reliance will set up India’s first and world-class carbon fibre facility at Hazira. Speaking at the Vibrant Gujarat Summit here, Ambani said Reliance was, is, and will always remain a Gujarati company.
“Reliance has invested over USD 150 billion (12 lakh crore) in creating world-class assets and capacities across India in last just 10 years. Of this, more than one third has been invested in Gujarat alone,” he said. He said Reliance will contribute to making Gujarat a global leader in green growth.
“We will help Gujarat’s target to meet half of its energy needs through renewables by 2030.” Reliance started building the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar. This will generate a large number of green jobs and enable production of green products and materials that will make Gujarat the leading exporter of such goods and the company is ready to roll this out in the second half of 2024 itself, he said.
DP World To Build A Container Terminal in Gujarat
Global logistics management and services firm DP World will build a container terminal in Gujarat and is committed to further investments in India, the company’s Chairman Sultan Ahmed bin Sulayem said on Wednesday. Addressing the Vibrant Gujarat Global Summit here, he said the company will continue to partner with the Indian logistics sector and support manufacturing industries in Gujarat and the rest of India to make Indian goods globally competitive and accessible.
DP World started its operation in Gujarat in 2003 with opening of the Mundra International Container terminal, he said. “We have invested in the state of Gujarat as well in other state in India, to the tune of USD 2.5 billion…” bin Sulayem said.
AMNS To Set Up Single-Location Integrated Steel Plant at Gujarat’s Hazira
Lakshmi Mittal on Wednesday announced that ArcelorMittal Nippon Steel India (AM/NS India) is building the world’s largest single location integrated steel plant at Gujarat’s Hazira.
Mittal, the executive chairman of global steel major ArcelorMittal which operates the JV in India with Japan’s Nippon, said the plant will have a capacity of producing 24 million tonne of crude steel, and should be ready by 2029.
Speaking at the 10th Vibrant Gujarat Global Summit here, Mittal said the company has signed an agreement for the second phase of the plant with the Gujarat government at the event. Work on the first phase of the project, which started in 2021, is going on as per schedule and the first phase will be inaugurated by 2026, he said.
The ‘bhumi puja’ or ground-breaking for the plant was done in presence of Prime Minister Narendra Modi, Mittal said. He exuded confidence that with the state government’s cooperation, the company will be able to commission the second phase of the project near Surat by 2029.
(With Inputs From Agencies)
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