Vibrant Gujarat 2024: Business Leaders Hail Modi's Vision, Rollout Investment Plans
Vibrant Gujarat Summit: The theme of this year’s summit is 'Gateway to the Future' and includes the participation of 34 partner countries and 16 partner organisations
Prime Minister Narendra Modi on Wednesday kicked off the 10th edition of the Vibrant Gujarat Global Summit in Gandhinagar. Several global leaders like the UAE President Mohamed bin Zayed Al Nahyan and business icons like Gautam Adani, Mukesh Ambani, and Lakshmi Mittal, among others were present at the event.
The 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. Here are some industry leaders who have addressed the gathering.
Mukesh Ambani
Ambani said that a 5,000 acre Dhirubhai Energy Giga Complex is coming up in Jamnagar which will be ready to be commissioned in the second half of 2024 itself. Second, due to the fastest roll out of 5G, today Gujarat is fully 5G enabled, he said. This will make Gujarat a leader in digital data platform and in AI adoption. Third Reliance Retail will expand its footprint to bring quality products and help lakhs of farmers and small merchants. Fourth, he said, Reliance will make Gujarat a pioneer in new materials and circular economy. The group is establishing a world class carbon fiber facility at Hazira.
Sanjay Mehrotra
The CEO of Micron Technologies, USA, thanked the Prime Minister for his vision to open up the country to semiconductor manufacturing and said that it will become a huge economic driver in the future as India marches forward to become the third largest economy in the world. He thanked the state and central government for their support in helping establish a world-class memory assembly and test facility in Gujarat as he mentioned the infrastructure partnership with Tata Projects for the facility. He informed that the first phase covering an area of 500,000 sq feet will be operational by early 2025 thereby creating 5,000 direct jobs and 15,000 additional community jobs over the coming years.
Gautam Adani
The chairman of Adani Group expressed pride in being a part of every edition of the Vibrant Gujarat Summit so far. Adani underlined that since 2014, India’s GDP has grown by 185 per cent and per capita income by 165 per cent. He also announced an investment of Rs 55,000 crores in the state by 2025 while surpassing the target of Rs 50,000 crore investments in various sectors creating 25,000 direct and indirect jobs. He also touched upon expanding towards a green supply chain for an Atmanirbhar Bharat and creating the largest integrated renewable energy ecosystem including solar panels, wind turbines, hydro electrolyzers, green ammonia, PVC and expansion in copper and cement projects.
Lakshmi Mittal
ArcelorMittal’s chairman highlighted the Prime Minister’s belief in the principles of One Earth, One Family, One Future and strengthening the voice of the global south in every international forum. Underlining the importance of steel in making a nation self-dependent, Shri Mittal recalled the foundation stone laying of ArcelorMittal Nippon Steel India Hazira Expansion Project in 2021 and informed that the first phase of the project will be completed by the stipulated target year of 2026.
N Chandrasekaran
Tata Sons’ chairman elaborated on the expansion plan of the group in Gujarat in the areas of EV vehicles, battery production, C295 defence aircrafts and semiconductor fab, advance manufacturing skill building.
Toshihiro Suzuki
Suzuki Motor’s president said that India has now become the 3rd largest automobile market in the world, Mr Suzuki highlighted the impact of the Prime Minister’s progressive approach on the country’s economic growth. He also touched upon the company’s plans to roll out the first EV produced in India while also exporting it to European countries and Japan as he underlined the efforts on increasing production capacity.
Jeffrey Chun
The CEO Simmtech, South Korea said that as key supply chain partner in the semiconductor assembly and test facilities expressed excitement for their India project as a co-location investment following their major customer Micron’s project in the state of Gujarat. He informed that they are preparing another round of colocation investment in India and noted state and central government support.
Sultan Ahmed bin Sulayem
The chairman of DP World said that it is heartening to see the Prime Minister’s vision for a vibrant Gujarat becoming a reality as he congratulated the Gujarat Government for organizing the Summit. He credited the government for developing and promoting various industrial clusters such as GIFT City, Dholera Special Investment Region and the Gujarat Maritime Cluster and said that it will act as a gateway to the future.
Shankar Trivedi
The senior VP 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 to 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”.
Nikhil Kamat
The founder and CEO of Zerodha said that the past 10 years have been incredible as he hailed the country’s start-up ecosystem and the rise of small entrepreneurs and ecommerce which was not the case 10 years ago. He credited the Prime Minister for facilitating a stable ecosystem allowing start-ups to thrive.
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