Vibrant Gujarat Summit Highlights: Eight MoUs worth ₹3,265 crore signed in agro-food processing sector

Chief Minister Bhupendra Patel, on the second day of the Vibrant Gujarat Summit, expressed an unwavering commitment to transforming Gujarat into a 'Global Hub for Semiconductor and Electronics Manufacturing.'

According to a press release, with Prime Minister Narendra Modi's guidance, the Chief Minister outlined a roadmap for the state's pivotal role in the semiconductor sector.

Addressing the Semiconductor and Electronics Seminar, Chief Minister Patel emphasised Gujarat's pioneering status as the first state in the nation to announce a semiconductor policy.

The government's mission is to make India the number one automobile manufacturing hub in the world and make the auto sector a ₹25 lakh crore industry, Union Minister Nitin Gadkari said on Thursday.

Addressing a seminar at the Vibrant Gujarat Global Summit here, the minister asked auto manufacturers to invest in clean technologies, especially in electric vehicles, otherwise, they will "miss the bus".

With a view to promoting bilateral economic ties and fostering favorable business conditions, the Korea-Gujarat Economic Cooperation Forum took the center stage at the Vibrant Gujarat Global Summit 2024 on January 10. Led by Chang Jae Bok, Ambassador of the Republic of Korea to India, a high level delegation and top management of renowned Korean companies -Hanwha Aerospace (K-9 Vajra T), POSCO, Indian company Zydus Lifesciences and others attended the 10th edition of Vibrant Gujarat Global Summit 2024.

As many as eight MoUs were signed in the agro and food processing sector, in the presence of Gujarat's Agriculture Minister Raghavji Patel, on the second day of the ongoing Vibrant Gujarat Global Summit.

Among these MoUs, Asandas and Sons Pvt. Ltd. at Mehsana are planning to invest ₹1,100 crores, Bhitar Enterprises Pvt. Ltd. is planning a ₹500 crore investment, Tidy Agroceutical Pvt. Ltd. intends to invest ₹400 crores, Grainspan Nutrients Pvt. Ltd. at Ahmedabad plans a ₹375 crore investment, and Sanstar Ltd at Ahmedabad is set to invest ₹300 crores in the state.

"This is clearly the decade of India's technology prowess known to the world, and Gujarat and Vibrant Gujarat are the perfect place to have entrepreneurs together at one place, who will do it for India," Paytm CEO Vijay Shekhar said on Thursday.

"Let me look at the type of vision that the Prime Minister has given after this success story of the last 6 months. I think he also has been an ardent supporter of space programs ever since he was a CM of this state... What he told us is that we must create continuous activity of humans' presence in space. Though we have a Gaganyaan program, it must continue over a long period leading up to a human landing on the moon and an Indian landing on the moon by 2040. It looks far away, but it's not far away. It's so close. And we must build a space station by 2035, a space station that is accessible for Indians to go there and do research...": ISRO chairman Somanath said.

"I just couldn't be happier to be here at Vibrant Gujarat (Summit) to support Canada-India business relationships. Our long-term strategic interests are absolutely aligned," says High Commissioner for Canada in India Cameron MacKay at #VibrantGujaratSummit 2024 in Gandhinagar.

"Today, the government has announced 8 lakh electric buses for the industry in the next 7 years, which is a big fillip, which is putting India on the global map of electric public transportation, making India the number 1 country to produce electric buses," said Nishant Arya, Vice Chairman at JBM Group amid the Vibrant Gujarat Summit in Ahmedabad

A continuation for five years of demand incentive under the FAME scheme will help increase penetration of electric vehicles to 25 per cent from the current 5 per cent in India, Kinetic Green Founder and CEO Sulajja Motwani said on Thursday.

Motwani, who is also the FICCI National EV Committee Chair, said while India has made a good start towards electric mobility, the next five years will be crucial to establish electric as the preferred technology for mobility amongst consumers.

Speaking at Vibrant Gujarat Global Summit here, she said the FICCI committee had submitted a comprehensive recommendation, including continuation of the FAME scheme, to the government for acceleration of electric mobility.

Union Home Minister Amit Shah will on Friday address the concluding session of the 10th edition of the three-day Vibrant Gujarat Global Summit, officials said.

Shah is scheduled, tomorrow afternoon, to attend the event, which epitomises the Gujarat government's commitment to development and socio-economic growth as envisioned by Prime Minister Narendra Modi.

Prime Minister Modi inaugurated the summit with the theme 'Gateway to the Future' at Mahatma Mandir in Gujarat's capital Gandhinagar on January 10.

Haryana Chief Minister Manohar Lal Khattar held a meeting with the Japanese delegation in Gandhinagar on Thursday during the Vibrant Gujarat Global Summit.

The Summit kicked off with much fanfare on Wednesday, witnessing big-ticket investment proposals from Indian and overseas companies. The high-value investment proposals included Indian companies such as Adani Group, Reliance Industries, Tata Group, and global corporates such as DP World.

"Now, India is ready to provide end-to-end solution because India has a lot of demographic dividends, quality educational institutions are there. Our National Education Policy, envisioned by PM Modi, is exactly advocating that. We have to capture the global expectation. Skilling and vocational education will now be formally part of our educational ecosystem. Previously, it was not so aspirational," says Union Minister Dharmendra Pradhan after attending the ongoing Vibrant Gujarat Summit 2024 in Gandhinagar.

On semiconductor manufacturing in India, Minister for Railways, Communications, Electronics & Information Technology, Ashwini Vaishnaw says, "Semiconductor is a foundational industry... The semiconductor policy was uploaded on January 1, 2022. We talked to semiconductor manufacturers and designers from across the world. The agreement for the first manufacturing unit was signed in June 2023 during PM Modi's US visit. The construction of the factory started in September 2023... The first 'Made in India' semiconductor chip will come out of this plant in December 2024... Semiconductor development skills are quite complex. We have signed two MoUs for training and skill development... IIT Gandhinagar will made a 'Centre of Excellence' for semiconductor research and development..."

CM Bhupendra Patel addresses the EV vehicle seminar in Gandhinagar, as part of Vibrant Gujarat Global Summit 2024. Union Minister Nitin Gadkari also present at the seminar.

CM says, "Shift towards electric vehicles is not just a technological transformation but also a basic change in transportation and sustainability. Today, Gujarat is a leading state in terms of implementing policies and schemes with a focus on sustainability in the direction of national priorities..."

As part of the Vibrant Gujarat Global Summit 2024, the India-UAE Business Summit was held on Wednesday to strengthen bilateral ties between the two nations.

The inaugural session of the India-UAE Business Summit included keynote addresses from Union Minister of Commerce and Industry Piyush Goyal, UAE's Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi and special remarks from Gujarat Chief Minister Bhupendrabhai Patel, according to Ministry of Commerce and Industry press release.

Piyush Goyal, Thani bin Ahmed Al Zeyoudi, and Bhupendra Patel ceremonially launched the UAE-India CEPA Council (UICC) website as part of the inaugural session. The session also highlighted India's booming startup landscape and included remarks from Kunal Bahl, Chairman - Confederation of Indian Industry (CII) National Startup Council and Co-founder - Snapdeal and Titan Capital.

PTI

Ed Knight, Global Board Chair of the US-India Business Council (USIBC) and Executive Vice Chairman of Nasdaq, led the trade association's executive delegation to the 10th edition of the Vibrant Gujarat Global Summit in Gujarat's Gandhinagar. USIBC organised a country seminar addressing ways to increase trade and investment between the United States and India.

US Consul General in Mumbai Mike Hankey and Ed Knight were the keynote speakers at the USIBC country seminar. The seminar concluded with a panel discussion titled "Shaping the Future: The Evolving India-U.S. Bilateral Relationship," according to USIBC's press release.

The panel featured executives Amit Singh, CEO, Adani Green Energy Limited; Anand Ramamoorthy, Vice President and Managing Director, Micron India; Dinesh Reddy Musukula, Director, Dr. Reddy's Laboratories; and Jagdish Mitra, President - India Business and Head of Corporate Affairs, Tech Mahindra. Nick Vyas, Founding Executive Director of the USC Marshall Randall R. Kendrick Global Supply Chain Institute, also joined the discussion, the USIBC said in a press release.

ANI

On the second day of the Vibrant Gujarat Global Summit, Sanjay Mehrotra, CEO of Micron Technology, underscored the pivotal role of semiconductors in India's growth and the global economy.

Speaking at the event, Mehrotra highlighted the significance of Vibrant Gujarat as a forward-looking forum to discuss visionary ideas crucial for India's semiconductor prowess and overall development.

"Vibrant Gujarat is an important forward-looking forum to discuss the visionary ideas critical for India, its growth, its semiconductor power. Never has the opportunity been greater, and I think we can feel it in the Vibrant Gujarat event," remarked Sanjay Mehrotra, acknowledging the significance of the summit as a platform for discussions that shape the future.

ANI

Union Finance Minister Nirmala Sitharaman says "Currently in the IFSC, we have three exchanges including the International Bullion Exchange. 25 banks are operating within the IFSC, out of which 9 are foreign banks. IFSC also has attracted 26 aircraft lessors who have collectively leased out 136 assets. 80 fund managers have established 89 schemes and 29 insurance entities, including eight insurance and reinsurance firms. Eight ship leasing entities have commenced operations here...The government of India has taken a very clear position that we will strengthen shipbuilding activities in India and towards that, therefore, holding leasing entities here in GIFT city, we'll be able to access global finance easily and use the building capacities of our shipping yards..."

Chief Minister of Gujarat, Bhupendra Patel, and Union Minister for Shipping, Ports, and Waterways, Sarbananda Sonowal, participated in the session titled 'Unlocking India's Maritime Wealth: Port-Led Cities and Economic Prosperity' at the Vibrant Gujarat Global Summit 2024.

Union Minister Ashwini Vaishnaw says, "The semiconductor industry is going to require a million more strong talents in the next decade. This will come from India... We have tied up with 104 universities to develop courses and training regimes... When you make the next investment decision, your natural choice should be Bharat and Gujarat."

Gujarat Home Minister Harsh Sanghavi said, “It was a historic inauguration of the 10th edition of Vibrant Gujarat...Big investments are about to come into the country through Vibrant Gujarat. Big investments have been declared Green Energy. Expanding its plant, Maruti has decided to make it double-capacity. We are becoming an ecosystem in the automobile sector. Earlier, the country imported motor cars and now it will export vehicles to the world...”

German Ambassador to India, Philipp Ackermann says, "I was very impressed by the event...It is one of the big events here, you see international participation...I think it is a great event...Germany has a lot of business here in Gujarat and I think this Summit reflects what a vibrant and dynamic state Gujarat and India are..." (ANI)

Norway’s Ambassador to India May-Elin Stener says, "... The main focus of Norwegian companies here is circular economy and energy, particularly renewable energy. We also have different companies focusing on different aspects of maritime cooperation... We are currently negotiating a free trade agreement with India within the framework of EFTA... Companies here at the summit are particularly looking at Gujarat, particularly in the coastal side and maritime domain, looking at the ports, finding opportunities for investing, especially in renewable energy, floating solar energy and floating wind energy." (ANI)

PM Modi said during the summit inauguration, “Today, India is the fifth largest economy in the world. 10 years ago, India was on the 11th position. Today, all major agencies estimate that India will be in the top three economies of the world in the coming years. Let people across the world do their analysis, but it is my guarantee that it will happen.”

Gautam Adani announced that he will make investments worth ₹2 lakh crore in Gujarat over the next five years. Meanwhile, Mukesh Ambani announced the launch of a new Reliance giga factory.