Ambani, Adani commit huge investments at Vibrant Gujarat Summit
Our Bureau
Gandhinagar
Prime Minister Narendra Modi inaugurated the 10th edition of the Vibrant Gujarat Global Summit (VGSS) in Gandhinagar and called upon people to dream big. “The bigger your dream, the bigger my resolve will be. There are many opportunities to see dreams and the ability to fulfil those dreams is also there,” PM Modi said, concluding his nearly 25-minute speech in Hindi at Mahatma Mandir.
The global summit will be held from January 10 to January 12 and the theme for this year is ‘Gateway to the Future’. Dozens of global companies and partner countries are participating in the summit this year.
Several leaders of countries like the United Arab Emirates, Mozambique, Timor-Leste, Czech Republic, Japan, Nepal, Estonia, Morocco and Vietnam were present at the event along with captains of industry and hundreds of people from India and abroad.
On the first day, Indian and foreign investors, as well as business leaders, have expressed interest in setting up new projects in Gujarat in coming-of-age industries such as green hydrogen, renewable energy, semiconductors and E-mobility, data centers and fintech and logistics and supply-chain networks.
Mukesh Ambani of Reliance Industries announced that a new renewable factory spread on 5,000-acre in Jamnagar will become operational in 2024. To make Gujarat a leader in green growth, Reliance has started building the Dhirubhai Ambani green energy giga complex over 5,000 acre in Jamnagar.
Gautam Adani announced investments of ₹2 lakh crore in Gujarat in the next five years, focused primarily on the development of a green energy park in Kutch, which, he said, would be visible from space. Tata Group Chairman N. Chandrasekaran announced plans to build a large semiconductor fabrication facility (fab) in Gujarat’s Dholera.
Japanese auto maker Suzuki also announced major deals to expand its operations in the state. Toshihiro Suzuki, President of Suzuki Motor Corporation, said the Suzuki Group will invest ₹35,000 crore to set up a new plant in Gujarat and ₹3,200 crore to add a new fourth production line in the existing SMG plant.
