Nano effect: Gujarat attracting big investments since its automobile sector took off in 2009
automobile sector took off in 2009 when Tata Motors set up its Nano manufacturing plant in Sanand, about 50 km from Ahmedabad, and the state has been attracting some big ticket investments from both domestic and international players since then. Now, with the global shift tending towards electric mobility, the Gujarat government seeks to position itself as a leading electric vehicles (EV) manufacturing hub.
To this effect, it signed an MoU with the Tata Group worth Rs 13,000 crore in June this year.
The 10th edition of the Vibrant Gujarat Global Summit will be held from Jan 10 to 12, 2024 in Gandhinagar.
The biennial summit serves as a platform for businesses and governments to explore investment opportunities and establish partnerships.
Experts believe that future-ready infrastructure such as the Dholera Special Investment Region and the Delhi-Mumbai industrial corridor are bound to change the state's outlook in the auto sector.
Ratan Tata, former chairperson of the Tata Group, recalled in 2011 how the company decided to move out of West Bengal to Gujarat.
«We moved our Nano plant from West Bengal where we unfortunately felt we needed to withdraw. We looked for a location where we could have security and the stability that we desired,» Tata had said.
Since 2009, the sector has evolved in tandem with the Vibrant Gujarat Global Summit (VGGS), initiated in 2003 by the then chief minister Narendra Modi, with the event becoming a platform to attract investments in the sector.
In 2011, Ford Motors invested Rs 5,000 crore in its Sanand plant. In 2014, Suzuki Motors invested Rs 14,784 crore, creating 9,100 jobs.
