From chip to green energy, India Inc majors to invest fresh in Gujarat

AHMEDABAD: Top businesses – from Tata Group to Adani, Reliance Industries and ArcelorMittal – have committed fresh investments in Gujarat that range from semiconductors to green energy and steel. Tata Group hinted at a possible investment in the semiconductor sector. “Tata Group has also made a commitment and is on the verge of concluding and announcing a huge semiconductor fab in Dholera, and we are about to complete these negotiations and start in 2024,” said Tata Sons chairman N Chandrasekaran.

In addition, he elaborated on the expansion plan of the group in Gujarat in area of EV vehicles, battery production, C295 defence aircraft and semiconductor fab, and advanced manufacturing skill building. At the 10th edition of Vibrant Gujarat Global Summit (VGGS), Adani Group chairman Gautam Adani committed to investing Rs 2 lakh crore in his home state over the next five years, which is expected to create around one lakh jobs. “Today, I commit to further investments.

We are constructing the world’s largest green energy park at Khavda in Kutch, generating 30 GW of renewable energy over 725 sq km, visible from space. We are expanding the green supply chain for an ‘Atmanirbhar Bharat’ and creating the largest integrated renewable energy ecosystem. This includes solar panels, wind turbines, hydrogen electrolysers, green ammonia, PVC, and expansions in copper and cement production,” Adani said.

ArcelorMittal executive chairman Lakshmi Mittal said the company will build the world’s single biggest steel manufacturing facility with a capacity of 24 million tonnes per annum at Hazira by 2029. On the other hand, Reliance CMD Mukesh Ambani made five commitments to enable Gujarat to meet half of its energy needs through renewable sources by 2030 by setting up the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. “We will help make Gujarat a leader in digital data platform and AI adoption, expand Reliance Retail to help farmers and small retail merchants, establish a carbon fibre manufacturing facility at Hazira in Gujarat and improve sports, education and skills infrastructure in the state,” he explained.

In a major boost to the automobile sector of Gujarat, Toshihiro Suzuki, president, Suzuki Motor Corporation (SMC) said that Maruti Suzuki India will invest Rs 35,000 crore to set up a new car manufacturing plant with a 10 lakh units per annum capacity in Gujarat, which will start operations in FY 2028-29. “We will also expand the existing plant capacity to 10 lakh units per annum,” Suzuki said. He also touched upon the company’s plans to roll out the first EV produced in India, while also exporting to European countries and Japan as he underlined efforts on increasing production capacity.

Sanjay Mehrotra, CEO of Micron Technology, US, thanked state and central governments for their support in helping establish a world-class memory assembly and test facility in Gujarat. “The first phase covering an area of 5,00,000 sq ft will be operational by early 2025, thereby creating 5,000 direct jobs and 15,000 additional community jobs over the years. The combined investment by Micron and government over both phases could reach up to $2.

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