Introduction:

The 10th Vibrant Gujrat Global Summit 2024 started on Wednesday 10th of January and will take place till 12th January 2024. Many top organisations from all around the globe and leaders of various countries are attending the summit which is duly important for India as well as the inclusive development of the world.

Thank you for reading this post, don't forget to subscribe!

Image credit: Good returns

Major announcements on the 1st day of Vibrant Gujarat Global Summit 2024:

Adani Group Announcement:

In this Global Summit 2024 Adani Groups announced to invest $24 billion in Gujarat over the next five years. Gautam Adani said that this will create 1 lakh jobs in Gujarat.

Further, he confirmed that his firm will invest around $100 billion towards the development of green energy in the country in the upcoming 10 years.

Reliance Group Announcement:

Mukesh Ambani, the chairman of Reliance Industries said that his firm will launch India’s first and world-class carbon fibre facility at Hazira in Gujarat. He also announced that Reliance will set up a green energy giga complex on 5,000 acres in Jamnagar in 2024.

Mukesh Ambani further confirmed India’s bid for the 2036 Olympics for which Reliance will collaborate with the authorities to develop necessary projects required for the tournament.

Tata Group Announcement:

At the Vibrant Gujrat summit, Tata Group Chairman, N Chandrasekaran that the company is planning to build a semiconductor fab at Dholera in Gujarat which will be functional by 2024.

Further, within the next two months, Tata Group will also construct a 20-gigawatt lithium-ion storage battery factory at Sanand in the state.

Suzuki Motor Corporation Announcement:

Suzuki Motor Corporation President Toshihiro Suzuki said that the global auto company will invest ₹ 35,000 crore for setting up its second manufacturing facility in Gujarat.

Dutch and Singapore Firms Announcement:

Dutch and Singapore firms announced investments worth over $7 billion in India in the upcoming financial year.

Nvidia Announcement:

Global tech firm Nvidia said that its partner firm Yotta is set to commission an “artificial intelligence data centre” in GIFT City before March 2024.

ArcelorMittal Announcement:

Lakshmi Mittal, the chairman of ArcelorMittal announced that his company will construct the world’s single biggest steel manufacturing factory in Gujrat’s Hazira by 2029, which will have a capacity to produce 24 million tonnes per annum.

Prime Minister, Narendra Modi’s Announcement at the Summit:

PM Narendra Modi inaugurated the Vibrant Gujarat Global Summit 2024 and while addressing the summit he said that all major global as well as Indian agencies have estimated that India will be among the top three economies of the world in the coming years. Further adding that India has signed important MoUs with the United Arab Emirates, which will bring investments worth billions in Gujarat and other states.

Finance Minister, Nirmala Sitharaman Announcement:

Nirmala Sitharaman in the Global Summit 2024, said that India will become the world’s third largest economy worth over $5 trillion by 2027-28 and with GDP touching $30 trillion India will come under the category of developed nation by 2047. Presently the GDP of India is roughly $3.4 trillion and stands being the fifth largest economy in the world, after the US, China, Japan and Germany.

Conclusion:

The three-day Global Summit 2024 has just started and on the very 1st day, the announcements from the top MNCs have already initiated the success of the event which ensures that in the upcoming two days, more announcements will be revealed which will mark India’s prominent position globally.

Source credit: Hindustan Times

Thumbnail credit: DD News.

Table of Contents