Tag: Vibrant Gujarat Global Summit

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DP World, Gujarat Sign Deals Worth $3B

The MoUs highlight Gujarat’s prowess as a role model of development and the growth engine of the nation while leveraging its logistics and maritime infrastructure….reports Asian Lite News

DP World has signed multiple Memorandums of Understanding (MoUs) worth INR 250 billion (approx. US$3 billion) with the Government of Gujarat, covering the development of new ports, terminals, and economic zones, strengthening its commitment to supporting trade in a growing Indian state.

DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, exchanged MoUs around potential investments in Gujarat with M K Das, Additional Chief Secretary, Government of Gujarat, during the the Vibrant Gujarat Global Summit 2024 being held in Gandhinagar.

The MoUs highlight Gujarat’s prowess as a role model of development and the growth engine of the nation while leveraging its logistics and maritime infrastructure.

The MoUs underscore DP World’s commitment to facilitating trade in Gujarat by developing:

-Multi-purpose deep-draft ports in South Gujarat and around the western coast of Gujarat towards Kutch,
-Special Economic Zones in Jamnagar and Kutch,
-Gati Shakti Cargo Terminals (GCT) and Private Freight Stations at Dahej, Vadodara, Rajkot, Bedi and Morbi

DP World has also signed an MoU with Gujarat Maritime Board to jointly identify opportunities to develop additional ports along the coast of Gujarat.

Commenting on the signing of the MoUs, Sultan Ahmed bin Sulayem, Chairman and CEO, DP World Group, said : “We are very committed to India, where we have been operating for nearly 20 years. In that time, we invested almost $2.5 billion and we are going to invest more in the next 3 years in these projects. The policies of the government and our experience here is what gives us the confidence to do even more in India. We have also been present in Gujarat since 2003 and are proud to have been part of the state’s growth story. We are honoured to continue our partnership in the state by committing to strengthening its logistics and maritime infrastructure to further enable trade in Gujarat.”

DP World’s existing investments in Gujarat include a container terminal in Mundra, along with rail connected private freight terminals at Ahmedabad and Hazira. This is complemented by cold storage facilities in Surat and Bharuch, freight forwarding offices in Ahmedabad and Gandhidham, and express cargo services across the state. Additionally, DP World ensures global connectivity for businesses in the region by running weekly coastal services via DP World’s Unifeeder Group, linking Mundra, Kandla, and Hazira ports to several international ports. The company recently launched a first-of-its-kind dedicated scheduled Rail Freight Service, ‘SARAL’ connecting traders from south Gujarat such as Surat, Vapi, Valsad Vadodara, Bharuch, Ankleshwar to the markets in and around North Capital Region (NCR).

On 25 August 2023, DP World signed a $510 million concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU per year mega-container terminal at Tuna-Tekra in Kandla. On commencement, this greenfield terminal will have state of the art equipment and a 1,100 m berth capable of handling next-generation vessels carrying more than 18,000 TEUs.

ALSO READ: UAE President Stresses Ties with India at Vibrant Gujarat Summit

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Adani’s Mega Bet

Adani said at the previous summit he had announced investments of over Rs 55,000 crore by 2025. …reports Asian Lite News

Gautam Adani, Chairman, Adani Group said on Wednesday that over the next five years, the Adani Group will invest over Rs 2 lakh crore in Gujarat — that is USD 25 billion — thereby creating over 1,00,000 direct and indirect jobs.

“Today, I commit to further investments. We are constructing the world’s largest green energy park in Khavda, Kutch, generating 30 GW of renewable energy over 725 square kms, even visible from space. We are expanding the green supply chain for an ‘Atmanirbhar’ Bharat and creating the largest integrated renewable energy ecosystem. This includes solar panels, wind turbines, hydrogen electrolysers, green ammonia, PVC, and expansions in copper and cement production”, Adani said at the 10th Vibrant Gujarat Summit in Ahmedabad.

Adani said at the previous summit he had announced investments of over Rs 55,000 crore by 2025. “We have already surpassed Rs 50,000 crore across the various sectors I had promised and have vastly exceeded our target of 25,000 direct and indirect jobs.”

He said Vibrant Gujarat is a stunning manifestation of Prime Minister Narendra Modi’s extraordinary vision. “It has all your hallmark signatures, merging grand ambition, massive scale, meticulous governance, and flawless execution. It ignited a nationwide movement as all our states marched forward – competing – and – cooperating – to fundamentally remodel India’s industrial landscape,” he said.

“The statistics of the past decade are remarkable: Since 2014, India’s GDP has grown by 185 per cent, and per capita income by a stunning 165 per cent. This achievement is unparalleled, especially considering this decade’s geopolitical conflicts and pandemic challenges.

“Hon’ble Prime Minister, your achievements on the international stage are equally remarkable. You have taken us from a country seeking a voice on global platforms to a nation that now creates the global platforms. The Solar Alliance platform, an initiative you conceptualized, and your leadership at the G20 platform, set a benchmark for a more inclusive world order. Adding the Global South to the G20 is a defining moment in modern history,” Adani said.

“Hon’ble Prime Minister, you don’t just predict the future; you shape it. You have reoriented India to become the world’s fastest growing nation, and positioned her as the global social champion driven by the twin philosophies of Vasudeva Kutumbakam and Vishwa Guru.

“And the best is yet to come. With your foresight in harnessing India’s youth to build a Vikshit Bharat and make India a fully developed nation by 2047, you have ensured that the India of today is poised to shape the global future of tomorrow,” Adani added.

Maruti Suzuki’s Rs 35,000 Cr Play

Japanese carmaker Suzuki Motor will invest Rs 35,000 crore to build a second car plant in Gujarat, company president Toshihiro Suzuki said at an investment summit in the state on Wednesday.

“The new plant will produce one million units a year as a result of which the company’s annual production in Gujarat will become two million units,” Suzuki said.

The country’s largest carmaker at present has a total production capacity of around 22 lakh units per annum across its two manufacturing plants in Haryana and Gujarat.

The company is also setting up a new manufacturing plant at Sonipat in Haryana, on the outskirts of Delhi, with an investment of Rs 11,000 crore to expand production.

ALSO READ: Blaupunkt Aims Big in India

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Tata Unveils Chip Plant Plans

The company is also likely to commence the construction of a 20 gigawatts battery storage factory in Gujarat within the next few months….reports Asian Lite News

Tata Group on Wednesday announced plans to build a state-of-the-art semiconductor fabrication plant in Gujarat, as India begins the journey to become a global chip hub.

Tata Sons Chairman N. Chandrasekaran, speaking at the 10th Vibrant Gujarat Global Summit in Gandhinagar, said that Tata Group is on the verge of finalising and announcing a substantial semiconductor fabrication plant at Dholera in the state.

“We are about to complete negotiations for the semiconductor fab and start in 2024,” he told the gathering.

The company is also likely to commence the construction of a 20 gigawatts battery storage factory in Gujarat within the next few months.

“This ambitious initiative marks a strategic move by Tata to bolster its presence in the renewable energy sector and contribute to India’s growing focus on sustainable power solutions,” said Chandrasekaran.

The Tata Group is also planning to build one of India’s largest iPhone assembly plants in Tamil Nadu’s Hosur.

According to media reports, the facility is expected to feature around 20 assembly lines and employ 50,000 workers within two years. The site is expected to be operational within 12 to 18 months.

In September last year, US-based Micron Technology started the construction of a Rs 22,500 crore facility in Sanand, Gujarat, that will set a benchmark for India’s semiconductor journey.

The engineering major Larsen & Toubro (L&T) has also announced to invest up to Rs 830 crore to build a fabless semiconductor chip design subsidiary which will ramp up the country’s plan to become a semiconductor hub

ALSO READ: Tata 1mg, Vitonnix UK Join Forces in India

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‘Reliance to Spearhead Gujarat’s Growth’

Mukesh Ambani emphasised that Reliance is committed to helping Gujarat become a global leader in sustainable Green Growth…reports Asian Lite News

Reliance will continue to play a leading role in Gujarat’s growth story with significant investments in the next 10 years, Chairman and Managing Director of Reliance Industries Limited (RIL) Mukesh Ambani said on Wednesday at the 10th Vibrant Gujarat Summit 2024 in Ahmedabad.

Ambani said specifically, Reliance will contribute to making Gujarat a global leader in Green Growth.

“We will help Gujarat’s target to meet half of its energy needs through renewable energy by the year 2030.For this, we have started building the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar.

“This will generate a large number of green jobs and enable production of green products and materials and will make Gujarat a leading exporter of Green Products. And we are ready to commission this in the second half of 2024 itself,” he added.

Reliance Jio completed the fastest rollout of 5G infrastructure anywhere in the world.

“Today Gujarat is fully 5G enabled – something that most of the world does not yet have. This will make Gujarat a Global Leader in Digital Data Platforms and AI Adoption. 5G-enabled AI revolution will make Gujarat’s economy more productive, more efficient and more globally competitive,” Ambani said.

“Besides generating millions of new employment opportunities, it will produce AI enabled Doctors, AI enabled Teachers and AI enabled Farming, which will revolutionise Healthcare, Education and Agricultural productivity in the State of Gujarat.”

Ambani further said that Reliance’s Retail will further accelerate its mission to bring quality products to consumers and simultaneously empower lakhs of kisans and small merchants.

Reliance will make Gujarat a pioneer in New Materials and the Circular Economy, he said, adding that as a first step, Reliance is setting up India’s first and world-class Carbon Fibre facility at Hazira.

He also said that Prime Minister Narendra Modi has announced that India will bid for 2036 Olympics.

“In preparation for that, Reliance and Reliance Foundation will join forces with several other partners in Gujarat to improve education, sports and skills infrastructure that will nurture the champions of tomorrow in various Olympics sports.

“Today, let me declare yet again: Reliance was, is, and will always remain a Gujarati company. Each of Reliance’s business is striving to fulfil the dreams of my seven crore fellow Gujaratis,” he added.

“Reliance has invested over $150 billion (Rs 12 lakh crore) in creating world-class assets and capacities across India in the last 10 years. Of this, more than one third has been invested in Gujarat alone.”

Ambani further said the Vibrant Gujarat Summit is the most prestigious investor summit in the world today.

“No other summit of this kind has continued for 20 long years — and going from strength to strength. This is a tribute to our Prime Minister Shri Narendrabhai Modi’s vision and consistency.

When foreigners think of New India, they think of a New Gujarat. How did this transformation happen? Because of one leader. Our beloved leader who has emerged as the greatest global leader of our times. And he is Shri Narendrabhai Modi, the most successful Prime Minister in India’s history,” Ambani said.

ALSO READ: Tata 1mg, Vitonnix UK Join Forces in India

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Lulu Group to invest Rs 4000 crores in Gujarat

Lulu Group employs more than 65,000-plus strong workforce from 42 different nations and has an annual turnover of USD 8 billion globally….reports Asian Lite News

UAE-based retailer LuLu Group is set to construct what it termed India’s biggest shopping mall, in Ahmedabad, with an estimated cost of Rs 4,000 crore.

The construction for the proposed shopping mall will start in 2024 itself, said Yusuff Ali MA, Chairman and Managing Director of Lulu Group International, talking to ANI on the sidelines of the ongoing Vibrant Gujarat Global Summit.

A miniature has been put up for display at the UAE stall in Vibrant Gujarat.

“The construction for India’s biggest shopping mall will start, and it is a miniature (model). The construction will start this year itself,” said Ali.

In September 2023, Yusuff Ali gave a hint that his group was going to set up two large shopping malls in India – in Ahmedabad and Chennai.

“We are going to construct one of the largest shopping malls in Ahmedabad and Chennai and we are opening our shopping mall in Hyderabad end of this month. Also we are going to different states for shopping malls and food processing,” he had said, speaking to ANI.

Currently, it has malls in six Indian cities — Kochi, Thiruvananthapuram, Bengaluru, Lucknow, Coimbatore, and Hyderabad being the latest.

Lulu Group, headquartered in Abu Dhabi, UAE, has been known as a trendsetter in the retail industry in the Middle East and North Africa region. It operates over 250 hypermarkets and supermarkets and is immensely popular with discerning shoppers across the GCC, Egypt, India, Indonesia, and Malaysia.

Lulu Group employs more than 65,000-plus strong workforce from 42 different nations and has an annual turnover of USD 8 billion globally.

Earlier, Yusuff Ali said that India under the “dynamic leadership” of Prime Minister Narendra Modi is considered as an emerging power and one of the strongest economies in the world. He said that 3.54 million Indians form an integral part of development of UAE’s economy. “Today, the common focus of both UAE and India is peace, stability, and economic progress.

UAE under the visionary leadership of His Highness Sheikh Mohamed Bin Zayed Al Nahyan is a dynamic and one of the most advanced nations in the world. On other hand, India under the dynamic leadership of Shri Narendra Modi Ji is considered as an emerging power and one of the strongest economies in the world,” Yusuff Ali MA said.

“More than 3.54 million Indians form an integral part of growth and development of UAE’s economy and society. Indians are also earning their present better with that most dignity and respect here,” he added.

He said that India and UAE will continue to move forward with greater cooperation. He called Abu Dhabi a safe and secure place to work and live and an incubator for talents, innovators and entrepreneurs.

“There are no limits of relationship between both our countries as rightly our minister mentioned. So, we would continue to move forward with greater cooperation. Today UAE, Abu Dhabi, particularly has become a key economic hub and the preferred go to destination due to its advanced world class architecture and huge investment opportunities in key sectors, including energy, IT, logistics, food medicine, tourism, and….,” he said.

Heaping praise on PM Modi for his leadership, he said that India has liberalized a lot of policies, especially the investment policy for non-resident Indians.

“In India, under the dynamic leadership of the Prime Minister. they liberalized a lot of policies, especially the investment policy for non-resident Indians. We had non-resident Indians had a lot of problems in Western India. But under the dynamic leadership of our prime minister Narendra Modi ji. They liberalised and now NRI investment is treated as domestic investment. This is a great opportunity for non-resident Indians back home to invest in India,” Yusuff Ali MA said.  (ANI)

ALSO READ: UAE President Stresses Ties with India at Vibrant Gujarat Summit

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Modi Welcomes ‘Brother’ MBZ

UAE President’s visit holds considerable significance, especially during the Vibrant Gujarat Global Summit in Gandhinagar…reports Asian Lite News

The visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan has captured significant attention across Indian media during his meeting with Narendra Modi, Prime Minister of India, signifying the strengthening ties between the two countries.

Indian newspapers have extensively covered the visit, emphasising the deep-rooted relationship between India and the UAE. This visit holds considerable significance, especially during the Vibrant Gujarat Global Summit in Gandhinagar, which commenced today and was inaugurated by Prime Minister Modi. President His Highness Sheikh Mohamed is the Chief Guest at the event.

Before the roadshow, Modi welcomed the UAE President at the Sardar Vallabhbhai Patel International Airport. After receiving the UAE President, Modi posted on “X”, formerly known as “Twitter”: “Welcome to India, my brother, His Highness Sheikh Mohamed bin Zayed. It’s an honour to have you visit us.”

ALSO READ: UAE Pavilion Opens at Vibrant Gujarat Summit

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Vibrant Gujarat Global Summit Cancelled Amid Covid Surge

Bhupendra Patel.(photo:Bhupendra Patel twitter)

Just in a span of ten days, the state has seen a steep rise in the number of Covid cases from around a hundred to now over three thousand, reports Asian Lite News

Following huge surge in Covid-19 cases in the state, the Gujarat government on Thursday decided to cancel the biennial Investment event, the Vibrant Gujarat Global Summit (VGGS) which was to be held in Gandhinagar from January 10 to 12.

Gujarat Chief Minister Bhupendra Patel on Thursday announced that the state government has decided to cancel the 10th edition of the biennial event, the VGGS to be held in Gandhinagar from the January 10.

The Gujarat CM on Wednesday had a review meeting regarding the present situation of Covid-19 with the top officials. The meeting decided that since there was a significant rise in the number of cases not only in India but globally as well and in the wider interest of the public, the VGGS was to be cancelled for now.

Patel thanked Prime Minister Narendra Modi for his constant guidance on the event, which was started by him in 2003, when he was the chief minister of Gujarat. The earlier edition scheduled in January 2021 was too cancelled due to the global pandemic.

Patel also thanked all the global participants for support to the event.

Just in a span of ten days, the state has seen a steep rise in the number of Covid cases from around a hundred to now over three thousand. On Wednesday, Gujarat saw a blast in Corona infection cases rocketing to 3,350 cases taking its tally to 8,40,643 cases. Almost half of the positive cases were reported from the state’s financial capital Ahmedabad — 1,660.

Similar to Covid-19 cases, there was a surge in Omicron variant also as 50 cases of this variant were detected on Wednesday.

ALSO READ: MoUs worth Rs 2,359 cr inked at pre-Vibrant Gujarat Summit event
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