Tuesday, December 1, 2020
Home Economy and Finance Vibrant Gujarat Summit: Investments worth lakhs of crores announced by Indian and foreign companies

Vibrant Gujarat Summit: Investments worth lakhs of crores announced by Indian and foreign companies

"India is set to be amongst Top 50 countries in ease of doing the business index," said PM Modi while addressing the summit attended by global corporate leaders and government delegates.

The inaugural day of the 9th edition of Vibrant Gujarat Summit at Gandhinagar witnessed a range of leaders and corporates, from across the world announcing huge investments for the state. The event was also marked by the presence of the Prime Minister and former Chief Minister of Gujarat Narendra Modi. So far, the investors have announced investments worth more than 4 lakh crore for the state.

 

The first day of the biennial investment summit was attended by big corporates of India and the world. Corporates like Reliance Industries, Tata Group, Aditya Birla Group, Suzuki Motor Corporation announced investments for the state, and also praised efforts undertaken by PM Modi in during his tenure.

Reliance Industries Limited chairman Mukesh Ambani announced investments worth Rs 3 lakh crore for the state, to be rolled in the next ten years.

“Gujarat is Reliance’s Janmabhoomi as well as Karmabhoomi. We have so far invested Rs 3 lakh crores in Gujarat and created and catalysed over one million livelihood opportunities. Reliance will double this investment and employment numbers over the next ten years” Mukesh Ambani announced. He also said that he has been attending the summit since its inception, and said that it is very satisfying that every other state is following the Gujarat model of investments. He also lauded PM Modi for his leadership and making the country the fastest growing economy in the world. Though he did not elaborate on the investment plans, he said that most of it will be in the telecom and digital technologies space.

In addition to this, Rs 55,000 crore investments were announced by Gautam Adani, chairman of Aditya Group. He said that a major chunk of the investments done by the group will be directed towards the installation of the world’s largest Solar Hybrid Park in Khavda. He also announced 1 GW data centre park in Mundra, copper smelting project, cement manufacturing plant in Lakhat and an integrated Lithium battery complex for the state. Adani, too, praised efforts undertaken by PM Modi for the upliftment of people of India, in the last five years.

Aditya Birla Group chairman Kumar Mangalam Birla announced investments worth Rs 15,000 crore for the state. Out of which Rs 7,500 crore investment will be done for Grasim viscose staple fibre plant at Vilayat and Indian Rayon viscose filament yarn plant at Veraval. He also added that Rs 1000 crore investment will be done in filed of Chemical industries.

“Gujarat has seen exponential growth without compromising on macroeconomic stability. It’s on the back of the remarkable business-friendly environment that Aditya Birla Group has rapidly increased investments in the state,” Birla was quoted by reports.

Tata Group chairman N Chandrasekaran announced that his group will invest majorly in the field of Lithium-ion batteries manufacturing unit in the state. He also added that investments will be undertaken to expand the capacity of sodium ash production for the state.

In addition to Indian corporates, several international corporates also announced investments for the state. Corporates like Russian based Rosneft announced  $850 million investments for the refinery plant in the state.

“Nayara Energy will sign MoU with the Gujarat government for investing 850 million dollars for phase 1 expansion plan which will see the establishment of a new refinery and petrochemical units,” Rosneft Didier Casimiro, global head of Rosneft announced.

The leaders of five countries—Uzbekistan, Rwanda, Denmark, Czech Republic and Malta were part of delegation present at the summit.

PM Modi, while addressing the delegates said that India is set to be amongst Top 50 countries in ease of doing the business index.

“India is now ready for business. In the last four years, we have jumped 65 places of global ranking of ease of doing business. I have asked my team to work harder to ensure India is on the top 50 next years,” PM Modi said at the summit.

Listing out the measures the Central Government has taken since last four-and-a-half years to boost the economy, PM Modi said, “In the last 2 years, we have moved toward a low-tax regime on the Corporate side. We have lowered the tax from 30% to 25% for new investments as well as small and medium ventures.” He added that the Foreign Direct Investment (FDI) worth USD 260 billion was received, which is about 45% of the FDI received in the last 18 years.

The Vibrant Gujarat Summit had started during the tenure of Gujarat Chief Minister Narendra Modi. The Summit was established, so as to attract investments in the state, which had suffered a major earthquake in 2001 and was jolted by communal riots in 2002.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

After brutally suppressing protests by indigenous tribes in Canada, PM Justin Trudeau pontificates over farmers’ protests in India

Even though Canadian PM Justin Trudeau expressed his "concern" over the farmers' protest in India, Canada had last year moved WTO against India for high MSP rates

Farmer protest: From celebrity protestors hijacking the ‘protest’ to AAP and Congress fighting for credit, the circus is here

The farmers protests in Delhi have turned into a Shaheen Bagh redux with the same usual suspects coming together.

PFI is using ’72 hoors in Jannat’ concept to lure Muslim men into Jihadi activities, running terrorist schools: Sufi Islamic Board

PFI and SDPI are under scanner after the anti-Hindu Delhi Riots and Bengaluru riots earlier this year.

Maharashtra: Farmers in four districts record Rs 10 crore out-of-mandi trade with the help of new farm laws

FPCs in four districts in Maharashtra have made about Rs 10 crores from trade outside mandis after the laws were passed

Instead of answering allegations, Shehla Rashid decides to run away from a live show, calls her father ‘greedy’

Shehla Rashid, JNU student leader, has been accused by her biological father Abdul Rashid Shora, of taking Rs 3 crore from terror funding accused Zahoor Vatali and Rashid Engineer.

“We are all very worried” Canada PM Justin Trudeau, his ministers express ‘concern’ over protesting Punjab farmers in Delhi

During the virtual Gurpurab 2020 celebration, PM Trudeau, at the beginning of his address, talked about the protests in India.

Recently Popular

Shiv Sena to organise Azaan recitation competition, party leader calls it as important as ‘Maha Aarti’

Shiv Sena is to bear the cost of the event and will also reward the contest winners.

SFJ ads appear on YouTube offering $10m support for farmers, in return, wants Sikhs to join ‘Khalistan movement’: Details

Amid ongoing farmers’ protests in Punjab, Haryana, and Delhi, it is evident that Khalistani supporters have hijacked the protests and now, they are running ads on YouTube

Indian Idol contestant reveals how she faced opposition from conservative Muslim society as singing is ‘not allowed’

The Indian Idol contestant revealed how women in her society are looked down upon if they try to excel in any field.

Indian man proposes to his Australian girlfriend during Ind vs Aus cricket match, here is what happened next

While India's performance has been below par, netizens found happiness in the unusual proposal that became the highlight of the match.

Wife of late Wajid Khan writes on her sufferings in an inter-faith marriage, says anti-conversion law should be nationalised

Wife of late music composer Wajid Khan wrote how her husband and his family had been forcing her to convert to Islam after their marriage

Yogi snubs Trudeau, deputes bureaucrats to welcome the Canadian PM

The Canadian PM seems to be getting differential treatment

As Justin Trudeau interferes in India’s internal politics, ‘liberals’ invoke ‘Howdy, Trump’ event to again spread lies on PM Modi

Leftist liberals started hoping on one leg after some social media users slammed Justin Trudeau for interfering in India internal matters

Indian security forces entered 200 meters inside Pakistan to unearth starting point of the tunnel used by JeM terrorists

On November 22, a 150-meter tunnel used by terrorists was detected by security forces in Samba sector of Jammu and Kashmir

‘Sanitary Panels clearly implies that SC is biased towards BJP’: Attorney General slams comic artist for assault on courts, allows contempt proceedings

Webcomic Sanitary Panels founder Rachita Taneja is known for her controversial, hateful and often Hinduphobic Tweets

Meerut: Communal tension after members of Muslim community create ruckus over Facebook post ‘insulting’ Prophet Muhammad

Police force from several police stations was reportedly called in to control the situation in Meerut.

Uttar Pradesh: Case under new Love Jihad law filed against two men for trying to convert a married Hindu woman to Islam

Case filed against Nadeem and Salman for trying to convert their Hindu co-worker Akshay's wife to Islam by regularly visiting her

After brutally suppressing protests by indigenous tribes in Canada, PM Justin Trudeau pontificates over farmers’ protests in India

Even though Canadian PM Justin Trudeau expressed his "concern" over the farmers' protest in India, Canada had last year moved WTO against India for high MSP rates

After creating trouble during Delhi Riots and Hathras, Bhim Army chief reaches the farmer protests site, now hijacked by Khalistanis

The so-called farmer protests have already been marred by the presence of Khalistani elements.

After Biriyani and AAP support, Shaheen Bagh’s dadi Bilkis Bano reaches Punjab farmer protest site too

From 'guest-appearence' protestors to Biriyani, most Shaheen Bagh themes are being repeated at Punjab farmer protests.

Farmer protest: From celebrity protestors hijacking the ‘protest’ to AAP and Congress fighting for credit, the circus is here

The farmers protests in Delhi have turned into a Shaheen Bagh redux with the same usual suspects coming together.

Days after mysterious monolith in Utah disappeared following its discovery, similar metal monolith appears in Romania

The 13 feet high metal monolith has a mirrored surface and was found near the historic landmark of Petrodava Dacian Fortress

Connect with us

245,563FansLike
491,734FollowersFollow
20,200SubscribersSubscribe