Indian Corporate Giants to Make Fresh Investments in Gujarat, Covering Chips to Green Energy
In Ahmedabad, leading companies such as Tata Group, Adani, Reliance Industries, and ArcelorMittal have pledged new investments in Gujarat, spanning semiconductors, 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.
Furthermore, he detailed the group’s expansion strategy in Gujarat, focusing on electric vehicle (EV) manufacturing, battery production, C295 defense aircraft, semiconductor fabrication, and advanced manufacturing skill development.
During the 10th edition of the Vibrant Gujarat Global Summit (VGGS). Chairman of the Adani Group, Gautam Adani, pledged to invest Rs 2 lakh crore in his home state over the next five years. This investment is anticipated to generate approximately 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.
Lakshmi Mittal, the Executive Chairman of ArcelorMittal, announced that the company intends to construct the world’s largest steel manufacturing facility. By boasting a capacity of 24 million tonnes per annum, at Hazira by 2029.
Conversely, Chairman and Managing Director of Reliance, Mukesh Ambani. He outlined five commitments aimed at ensuring that Gujarat fulfills fifty percent of its energy requirements through renewable sources by 2030. This involves the establishment of 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 carbon fibre manufacturing facility at Hazira in Gujarat and improve sports, education and skills infrastructure in state,” he explained.
In a significant boost to Gujarat’s automobile sector, Toshihiro Suzuki, President of Suzuki Motor Corporation (SMC). He announced that Maruti Suzuki India plans to invest Rs 35,000 crore in establishing a new car manufacturing plant with a capacity of 10 lakh units per annum in Gujarat. The new facility is expected to commence operations in the fiscal year 2028-29. Suzuki further mentioned the expansion of the existing plant capacity to 10 lakh units per annum. Additionally, he highlighted the company’s intentions to introduce the first electric vehicle produced in India. With plans for exports to European countries and Japan, emphasizing efforts to enhance production capacity
Sanjay Mehrotra, CEO of Micron Technology, expressed gratitude to the state and central governments. For their support in facilitating the establishment of a state-of-the-art 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 $2.8 billion.”
