Ahmedabad: Leading corporations, including Tata Group, Adani, Reliance Industries, and ArcelorMittal, are poised to inject new capital into Gujarat, spanning diverse sectors such as semiconductors, green energy, and steel. Tata Group, for instance, has indicated its interest in the semiconductor domain, with Tata Sons chairman N Chandrasekaran revealing plans for a substantial semiconductor fab in Dholera. He stated, “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.”
Moreover, he provided detailed insights into the group’s expansive initiatives in Gujarat, encompassing electric vehicle (EV) manufacturing, battery production, C295 defense aircraft, semiconductor fabrication, and advanced manufacturing skill development. At the 10th edition of the Vibrant Gujarat Global Summit (VGGS), Gautam Adani, the chairman of the Adani Group, pledged a substantial investment of Rs 2 lakh crore in his home state over the next five years, with the potential to generate approximately one lakh jobs.
In his commitment, Adani outlined the construction of the world’s largest green energy park at Khavda in Kutch. This monumental project aims to produce 30 GW of renewable energy across a sprawling 725 sq km, visible even from space. He emphasized the group’s role in expanding the green supply chain to support an ‘Atmanirbhar Bharat‘ (self-reliant India) and creating the most extensive integrated renewable energy ecosystem. This ecosystem encompasses diverse elements such as solar panels, wind turbines, hydrogen electrolysers, green ammonia, PVC production, and expansions in copper and cement manufacturing.
ArcelorMittal‘s executive chairman, Lakshmi Mittal, announced ambitious plans to construct the world’s largest steel manufacturing facility, boasting a staggering capacity of 24 million tonnes per annum, at Hazira by 2029.
Meanwhile, Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, outlined five significant commitments to propel Gujarat towards meeting half of its energy requirements through renewable sources by 2030. This involves establishing the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. Additionally, Ambani pledged support to make Gujarat a leader in digital data platforms and artificial intelligence adoption, expand Reliance Retail to benefit farmers and small merchants, set up a carbon fiber manufacturing facility in Hazira, and enhance sports, education, and skills infrastructure in the state.
In a substantial development for the automobile sector in Gujarat, Toshihiro Suzuki, President of Suzuki Motor Corporation, disclosed that Maruti Suzuki India plans to invest Rs 35,000 crore in a new car manufacturing plant with a capacity of 10 lakh units per annum, scheduled to commence operations in FY 2028-29. Suzuki also highlighted intentions to expand the existing plant’s capacity to 10 lakh units per annum and underscored efforts in increasing production capacity, including the rollout of the first electric vehicle produced in India, targeting European countries and Japan.
Expressing gratitude, Sanjay Mehrotra, CEO of Micron Technology, acknowledged the support of state and central governments in establishing a world-class memory assembly and test facility in Gujarat. The initial phase, covering 5,00,000 sq ft, is expected to be operational by early 2025, creating 5,000 direct jobs and 15,000 additional community jobs over the years. The combined investment by Micron and the government across both phases could potentially reach up to $2.8 billion.