Vibrant Gujarat Global Summit 2024: Investments in semiconductor sector takes centrestage

Chandrasekaran also reiterated that C295 aircraft manufacturing will expand to Dholera from Vadodara “and that work is going on full speed”. Prime Minister Modi had laid the foundation stone of a C295 aircraft manufacturing plant in Vadodara, Gujarat, of the Tata-Airbus consortium that will manufacture the transport aircraft for the Indian Air Force (IAF) on October 30, 2022.

Chandrasekaran also announced that the construction of India’s first giga factory — for manufacturing 20 gigawatt Lithium ion batteries — will start in “the next couple of months” in Sanand. An agreement to set up the plant was signed in June 2023.

CEO of Micron Technology Sanjay Mehrotra announced that the first phase of the semiconductor assembly and testing facility coming up in Sanand, which includes 500,000 square feet of planned clean room space, will be “operational by early 2025.”

This indicates a delay as Micron Technology had announced last year that the first phase would be operational by late 2024. Mehrotra added that hiring has already begun and the project would create 5,000 new direct jobs in Sanand and an additional 15,000 community jobs in the coming years.

“We see our investment helping initiate a cluster of semiconductor investment, building momentum that will benefit India. We are hopeful that our investment will help catalyze other investments in the sector,” said Mehrotra, while stating how Simmtech, a leading supplier to Micron, is planning to set up a unit in Sanand to support Micron.

WHO SAID WHAT:

‘First BEV will be rolled out from Gujarat this year’: Toshihiro Suzuki, president, Suzuki Motor Corporation, Japan

Toshihiro Suzuki president of Suzuki Motor during the Vibrant Gujarat summit at Mahatma Mandir in Gandhinagar on Wednesday. (Express photo by Nirmal Harindran)

“We will invest Rs 35,000 crore for the construction of a second car plant in Gujarat which would produce another 1 million units. As compared to the last 10 years, we expect 1.7 times in vehicle production and 2.6 times in export sales in the current fiscal. The first Battery Electric Vehicle (BEV) from Suzuki Group will be rolled out from Suzuki Motor Gujarat by the end of this year. To expand BEV production, a fourth assembly line will be added with an investment of Rs 3,200 crore by Suzuki Group. The new assembly line will be able to produce 2.5 lakh units taking the total production from the Gujarat plant to one million units,” Toshihiro Suzuki, president, Suzuki Motor Corporation, Japan, said.

‘Phase 2 of steel plant at Hazira inked’: Lakshmi Mittal, Arcelor Mittal executive chairman

Industrialist Laxmi Mittal during the Vibrant Gujarat summit at Mahatma Mandir in Gandhinagar on Wednesday. (Express photo by Nirmal Harindran)

“Arcellor Mittal Nippon Steel (AMNS) plant at Hazira’s expansion project phase 1 will be completed by 2026. We have signed an MoU in this occasion of VGGS 2024 for second phase and the project (phase 2) will be completed in 2029 and when completed, with a capacity of 24 million tonne crude steel production AMNS Hazira plant will be among the world’s largest single location integrated steel production site,” said Lakshmi Mittal, Arcelor Mittal executive chairman.

‘India’s first world-class carbon fibre facility coming up’: Mukesh Ambani, Reliance Industries chairman

Industrialist Mukesh Ambani during the Vibrant Gujarat summit at Mahatma Mandir in Gandhinagar on Wednesday. (Express photo by Nirmal Harindran)

“We have started building the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar. We are ready to commission this in the second half of 2024 itself. Reliance is setting up India’s first and world-class carbon fibre facility at Hazira. In preparation for India’s 2036 Olympic bid, 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,” said Mukesh Ambani, Reliance Industries chairman.

‘Will invest over Rs 2 lakh crore in 5 years’: Gautam Adani, Chairman, Adani Group

Industrialist Gautam Adani during the Vibrant Gujarat summit at Mahatma Mandir in Gandhinagar on Wednesday. (Express photo by Nirmal Harindran)

“We are constructing the world’s largest green energy park in Kandla generating 30 GW of renewable energy. We are expanding the green supply chain and creating the largest integrated renewable energy ecosystem. This includes solar panels, wind turbines, hydrogen electrolysers, PVCs (photovoltaic cells), etc. Over the next five years, Adani Group will invest over Rs 2 lakh crore in Gujarat, thereby creating over one lakh direct and indirect jobs,” Gautam Adani said.

‘Nvidia partnering with Tata, Reliance to set up AI data centre facilities’: Shankar Trivedi, senior VP

“We are partnering with all of India’s leading business groups — the Tatas, Reliance Group and many others — to set up state-of-the art AI data centre facilities and position them in India. Specifically today, our partner Yotta is setting up a state-of-the-art AI data centre at GIFT City and it will be available live before the end of March,” said Shankar Trivedi, senior VP, Nvidia Global Field Operations.

‘DP World will invest $3 billion in 3 years’: Sultan Ahmed bin Sulayem, DP World chairman

“Gujarat finds a special place in the bilateral ties between UAE and India…UAE is one of the biggest overseas investors in Gujarat having invested over USD 2.4 billion since 2017…DP World is planning to invest USD 3 billion in next 3 years,” Sultan Ahmed bin Sulayem, DP World chairman, UAE.