The 10th Vibrant Gujarat Global Summit 2024 commenced on January 10 at
Gandhinagar witnessed a bunch of investment pledges from leading business houses
and announcements of investments across various sectors.
Vibrant Gujarat Global Summit 2024: Prime Minister Modi Urges Business Leaders To Dream Big
Prime Minister Narendra Modi who inaugurated the Vibrant Gujarat Global Summit 2024 articulated a vision for India’s future. He emphasized that business leaders should dream big and assured his government’s support to work towards converting them into reality.
The bigger your dream, the bigger my resolve will be. There are many opportunities to see dreams and the ability to fulfill those dreams is also there,” he said, concluding his
nearly 25-minute speech in Hindi at Mahatma Mandir.
Tata Group, led by Chairman N Chandrasekaran, disclosed plans to establish a
significant semiconductor fabrication unit in Gujarat’s Dholera, where operations would
begin in 2024. The Adani Group committed a massive ₹2 trillion ($24 billion) to boost
green energy initiatives in Gujarat. DP World, Simmtech, and Maruti Suzuki were
among those who revealed their respective investment plans on Day One of the
summit.
Several leaders of countries like Japan, Morocco, Vietnam, the United Arab Emirates,
Mozambique, Timor-Leste, the Czech Republic, Nepal, and Estonia were present at the event
along with captains of industry and hundreds of people from India and abroad.
The summit highlights Gujarat’s growing stature as an investment hub.
Some Important Announcements Made Today At Vibrant Gujarat Global Summit 2024:
- Tata Group to establish semiconductor fab in Gujarat
Tata Group Chairman N Chandrasekaran revealed plans to build a large semiconductor
fabrication facility in Gujarat’s Dholera that is expected to commence operations in
2024.
- Maruti Suzuki’s new plant in Gujarat
Maruti Suzuki’s leading carmaker revealed plans to invest 350 billion rupees
($4.2 billion) in Gujarat. The investment includes building a second car plant and
adding a new production line at an existing facility. - Adani Group’s massive investment in the state
Gautam Adani announced a huge investment of 2 trillion rupees ($24 billion) over the
next five years in the state. The focus will be on green energy projects, creating
100,000 direct and indirect jobs in the state. - Nvidia’s AI Data Centre in GIFT City, Gujarat
Global computing major Nvidia announced that its partner Yotta is set to commission
an artificial intelligence data centre in Gujarat International Finance Tec-City (GIFT
City) before the end of March that is part of Nvidia’s collaboration with Tata Group
and Reliance Industries. - Simmtech’s colocation investment with Micron in Gujarat
Simmtech from South Korea expressed readiness for a significant investment in
Gujarat, collaborating with Micron. It aims to create job opportunities for highly skilled
talents in Gujarat. - India-UAE MoUs at Vibrant Gujarat Global Summit 2024
India and the UAE signed multiple Memorandums of Understanding (MoUs) at covering
innovative healthcare projects, renewable energy, and food park development. - Reliance’s carbon fibre facility
Mukesh Ambani announced that Reliance Industries will establish India’s first world-
class carbon fibre facility at Hazira in Gujarat. The facility is in sync with Reliance’s
commitment to green growth. - ArcelorMittal Nippon Steel’s Integrated Steel Plant
Lakshmi Mittal announced that ArcelorMittal Nippon Steel India is constructing the
world’s largest single-location integrated steel plant in Gujarat’s Hazira. The plant with a capacity of 24 million tonnes of crude steel is expected to start operations
by 2029. - Investment in GIFT City
One97 Communications Limited that is the owner of Paytm, announced an investment
of INR 100 crore in Gujarat International Finance Tec-City (GIFT City) to build a global
financial ecosystem.
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