​Vibrant Gujarat Officially Kicks Off With Sizeable Big-ticket Investment Proposals

The much-awaited Vibrant Gujarat Global Summit has officially kicked off with much fanfare on Wednesday, witnessing various big-ticket investment proposals from various Indian and overseas companies. The high-value investment proposals included Indian companies such as Adani Group, Reliance Industries, Tata Group and global corporate DP World, among other business conglomerates. Over the next five years, the Adani Group will invest over Rs 2 lakh crore in Gujarat, i.

e. USD 25 billion, thereby creating over 100,000 direct and indirect jobs. Reliance will make Gujarat a pioneer in ‘New Materials’ and the ‘Circular Economy’.

As a first step, Reliance is setting up India’s first and world-class Carbon Fibre facility at Hazira. Tata Group also committed to a huge semiconductor FAB in Dholera. N Chandrasekaran, Chairman Tata Sons said that the “steady and spectacular progress of Gujarat consistently over such a long time clearly demonstrates visionary leadership and the mindset of our Prime Minister, Narendra Modi ji”.

Chandrasekaran underlined that economic development has also resulted in tremendous social development and Gujarat has clearly established itself as the gateway to the future. He highlighted the origin of Tata Group in Gujarat as the Founder Jamshedji Tata was born in Navsari. Today, 21 Tata Group companies have a strong presence in the state.

He also elaborated on the expansion plan of the group in Gujarat in the areas of EV vehicles, battery production, C295 defence aircraft and semiconductor fab, advance manufacturing skill building. “Gujarat is one of the most important destinations for Tata Group and we will play a key role in its development journey,” he said. Further, Emirati multinational logistics company DP World is planning to invest USD 3 billion over the next three years.

Group Chairman and CEO of DP World, Sultan Ahmed Bin Sulayem said, “DP World is planning in the next three years to invest in addition to that USD 3 billion. We will continue to support Gujarat’s economy by building a state-of-the art container terminal at Kandla Port with a capacity of two million containers. Looking ahead, we foresee deeper trade, employment and cultural collaboration between India and the UAE.

” Noting that India was the world’s fastest-growing major economy in the world, Sulayem credited investment initiatives like Gatishakti, which will help India and Gujarat realise their potential as economic powerhouses. He informed DP World’s plan to invest and develop state-of-the-art container terminals at Kandla, Gujarat with a capacity of two million containers. He expressed pride in partnering with the Indian government in expanding the country’s logistics infrastructure and thanked the Gujarat Government for the opportunity to become part of the Vibrant Gujarat Summit.

Further, US chipmaker and technology company Nvidia is partnering with India’s leading business groups to set up state-of-the-art AI data centre facilities here in India, said the multinational company’s Senior Vice President, Enterprise Business, Shankar Trivedi. Trivedi, Senior Vice President at Nvidia, noting the growing importance of generative AI recalled that PM Modi invited Jensen Huang, the CEO of Nvidia to deliver a lecture to the leaders of senior members of the Indian government and said that “it was the first time that a global leader actually talked about AI. Explaining Nvidia’s forays into skill development regarding generative AI, he said that ‘India has talent, scale and amazing data and unique culture”.

He also underlined Nvidia’s support for Make in India. He outlined three specific things that NVIDIA has actioned over the last few months – skill development, partnering with India Inc, and ‘Make in India’. Today, Prime Minister Narendra Modi inaugurated the 10th edition of Vibrant Gujarat Global Summit 2024 at Mahatma Mandir, Gandhinagar.

cThe theme of this year’s summit is ‘Gateway to the Future’ and includes the participation of 34 partner countries and 16 partner organisations. The Summit is also being used as a platform by the Ministry of Development of the North-Eastern Region to showcase investment opportunities in the North-Eastern regions. (ANI).