Industry leaders pledge investments worth over 2.38 lakh crore rupees at Vibrant Gujarat Global Summit

Industry leaders attending the Vibrant Gujarat Global Summit have pledged investments of over 2.38 lakh crore rupees in Gujarat. 

Suzuki Motor Corporation has promised to set up a second car manufacturing in Gujarat with an investment of 35,000 crore rupees.

Reliance Industries chairman Mukesh Ambani said that his company will set up ’ India's first carbon fiber facility at Hazira in South Gujarat. Mr Ambani said, Reliance has invested 12 lakh crore rupees in India during the last 10 years, of which one-third have flowed to Gujarat. 

The RIL chairman also pointed out that Gujarat was “fully 5G enabled” under Reliance Jio.

Adani Group chairman Gautam Adani promised to invest 2 lakh crore rupees in Gujarat which will create one lakh direct and indirect jobs in the next five years. 

He said 50,000 crore of the promised investment of 55,000 crore, made during the 2019 edition of Vibrant Gujarat, has already been invested.

Gautam Adani said his company is constructing the world’s largest green energy park in Khavda, Kutch, generating 30 GW of renewable energy.

N Chandrasekaran, chairman of Tata Sons said the Tata Group will set up a semiconductor fab facility at Dholera in 2024 and will extend the production of C295 Defence Aircraft to Dholera from the present venue of Vadodara. He said Tata Group is about the launch the building of a 20 GW Lithium Ion battery unit at Sanand. The construction for the project should start in the next couple of months,” Chandrasekaran said.

Lakshmi Mittal, executive chairman of Arcelor Mittal said the company’s investments at Hazira will take the steel production capacity to 24 million tonnes per annum by 2029.