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Thursday, April 18, 2024

Ambani, Adani and Tatas line up fresh investments in Gujarat


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Ahmedabad: Remaining highly bullish on India’s growth story, top business leaders Mukesh Ambani, Gautam Adani, and N Chandrasekaran committed more investments in Gujarat on Wednesday to further grow their presence in the coastal state.

Participating in the 10th edition of the Vibrant Gujarat Global Summit 2024, Reliance Industries Chairman Mukesh Ambani made five commitments towards the growth of Gujarat and announced to roll out green products from the company’s giga factory in the second half of 2024.

He said that Reliance Group has started building the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar.

“This will generate a large number of green jobs and enable the production of green products and materials that will make Gujarat the leading exporter of green products, and we are ready to roll this out in the second half of 2024 itself,” Ambani said.

The top industrialist said that no power on earth can stop India from becoming a 35 trillion-dollar economy by 2047.

“And I see Gujarat alone will become a 3-trillion dollar economy by then,” Mukesh Ambani said.

Speaking at the Vibrant Gujarat Summit, which was inaugurated by Prime Minister Narendra Modi today, Adani Group Chairman Gautam Adani promised to make an investment of Rs 2 lakh crore in Gujarat over the next five years.

He said that the new investment will create over 1 lakh direct and indirect jobs in the state.

“Over the next five years, Adani Group will invest over Rs 2 lakh crore in Gujarat, thereby creating over 100 thousand direct and indirect jobs,” he said.

He also said that the group had surpassed the investments promised earlier in different sectors.

The billionaire businessman stated that since 2014, India’s GDP has grown by 185% and per capita income by a stunning 165%.

“This achievement is unparalleled, especially considering this decade’s geopolitical conflicts and pandemic challenges,” he said.

In his address at the summit, Tata Sons Chairman Natarajan Chandrasekaran said that Gujarat is a very special place for the Tata Group, and as many as 21 Tata companies have a strong presence in the state.

“The Tata group has also made a commitment and is on the verge of concluding and announcing a huge semiconductor fab in Dholera (Gujarat). We are about to complete these negotiations and start in 2024,” he said.

Many companies, such as Essar, Torrent Group, and Infibeam, have committed new investments in Gujarat and have signed MoUs with the state government.

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