Vibrant Gujarat Summit sees billion-dollar pledges: From Tata's semiconductor fab to new Maruti plant, here are details
₹2 trillion ($24 billion) to boost green energy initiatives in Gujarat, adding to the flurry of multi-billion pledges made at the event. Additionally, Maruti Suzuki, Simmtech, and DP World revealed their respective investment plans, highlighting Gujarat's growing stature as an investment hub. Track Live Updates | Vibrant Gujarat Summit LIVE Updates: PM Modi says India's port infrastructure secures new investments from UAE companies Tata Group Chairman N Chandrasekaran revealed plans to build a large semiconductor fabrication facility (fab) in Gujarat's Dholera.
It is expected to commence operations in 2024. The group is in the final stages of negotiations for the plant, marking a significant move into chip manufacturing. Gautam Adani announced a staggering investment of 2 trillion rupees ($24 billion) over the next five years in Gujarat.
The focus will be on green energy projects, creating 100,000 direct and indirect jobs in the state. Adani Group is developing the "world's largest green energy park" generating 30 gigawatts. Maruti Suzuki, India's top carmaker, unveiled plans to invest 350 billion rupees ($4.2 billion) in Gujarat.
The investment includes building a second car plant and adding a new production line at an existing facility, increasing annual production capacity to 2 million vehicles. South Korean semiconductor parts maker Simmtech expressed readiness for a significant investment in Gujarat, collaborating with Micron. The company aims to create job opportunities for high-skilled talents in the state, contributing to India's growing semiconductor supply chain.
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