Vibrant Gujarat

India's first indigenous semiconductor chip will be made in Gujarat: CM

Gujarat Chief Minister Bhupendra Patel on Thursday said India's first indigenously developed semiconductor chip will be manufactured in the state, which has so far attracted an investment of Rs 1 lakh crore in electronics and chip manufacturing sectors. He was addressing a gathering in Nadiad town of Kheda district in the state after hoisting the national flag on the occasion of Independence Day. "The 10th edition of the Vibrant Gujarat Global Summit held earlier this year was instrumental in attracting new investment in emerging sectors like AI and semiconductor," he said. "We have so far attracted an investment of Rs 1 lakh crore in the electronics and semiconductor sector and India's first semiconductor chip will be manufactured in Gujarat," he said. On the occasion, he announced a significant increase in the monthly income limit set earlier by the state government for people wanting free ration under the Centre's Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY). At present, a

Gujarat received FDI worth $7.3 bn in 2023-24, jump of 55% from last fiscal

Gujarat has attracted a Foreign Direct Investment (FDI) of USD 7.3 billion in the financial year 2023-24, a jump of 55 per cent over the previous fiscal, the state government said in a release on Friday. With this, Gujarat now occupies the second spot in the country after Maharashtra in terms of the FDI inflow, it said. Citing the data released by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Union Ministry of Commerce and Industry, the state government said Gujarat has topped the charts in the annual increase in FDI inflow during 2023-24 by recording a jump of USD 2.6 billion. "Registering a 55 per cent increase in the FDI inflow during FY 2023-24 as compared to the inflow during FY 2022-23, Gujarat received a whopping USD 7.3 billion in FY 2023-24 as compared to the USD 4.7 billion received in the FY 2022-23. With the FDI inflow of USD 7.3 billion, Gujarat moved ahead of Karnataka and Delhi to reach the second spot in the country," said the release.

Gujarat tourist footfall up 17% as visitors flock famous spots this summer

Over 1.35 crore tourists flocked to famous destinations in Gujarat during this summer vacation, marking a 17 per cent increase compared to the previous year, the state government said on Wednesday. From April 1 to June 10 this year, more than 1.35 crore tourists visited 12 prominent attractions and pilgrimage sites in the state. This is a notable rise from the 1.14 crore tourists who visited during the same period in 2023, a government release stated. Key tourist spots included the Statue of Unity, Atal Bridge, Riverfront-Flower Park, Kankaria Lake, Somnath Temple, Ambaji Temple, Pavagadh Temple, Dwarkadhish Temple, Science City in Ahmedabad, Vadnagar, Gir and Devalia Safari Parks, and Ahmedabad Metro Railway. Ahmedabad district and Ahmedabad city, which has been declared India's first UNESCO World Heritage City, emerged as top tourist destinations in the financial year 2023-24. Ahmedabad district welcomed 4.26 crore visitors, while the city itself attracted 2.25 crore tourists, th

MoUs worth Rs 26.33 trn signed at Vibrant Gujarat Summit 2024: CM Patel

Memorandums of Understanding (MoUs) for 41,299 projects with investment proposals worth Rs 26.33 lakh crore were signed during the 10th edition of the Vibrant Gujarat Global Summit 2024, Chief Minister Bhupendra Patel said on Friday. Patel made the announcement in a post on X as the three-day summit ended here. If the MoUs signed at the VGGS that was to be organised in 2022 but postponed due to the COVID-19 pandemic were added up, a total of 98,540 MoUs with investment proposals worth more than Rs 45 lakh crore were inked, he said. "Under the guidance of Honorable Prime Minister Shri Narendra Modi, Vibrant Gujarat Global Summit 2024 has created a new record," Patel said in his tweet. "In the Vibrant Summit postponed due to the coronavirus epidemic in the year 2022, MoUs worth Rs 18.87 lakh crore for 57, 241 projects were signed. In the 10th edition of Vibrant Summit held in January 2024, MoUs for 41,299 projects have been signed attracting investments worth Rs 26.33 lakh crore," .

Committed to achieve 50% of renewable power sources ahead of 2030: Official

India is looking to achieve the target of 50 per cent of its total power capacity coming from renewable energy ahead of its stated timeline of 2030, a senior government official said on Friday. Out of a total capacity target of 500 gigawatt from non-fossil sources, 485 gigawatt is being envisaged to come from renewable energy (RE), Secretary at the Ministry of New and Renewable Energy, Bhupinder Singh Bhalla said. Speaking at the Vibrant Gujarat Global Summit here, he said, "Our share of renewable energy in the total energy has increased substantially. Now it's over 42 per cent of India's total energy capacity and that is significant." He further said, "We are committed to achieve 50 per cent of the capacity by 2030 and we are on path to achieve that and we hope to do that much earlier than 2030." Bhalla said India's RE capacity has increased from about 76 gigawatts in 2014 to 180 gigawatts at present. "The target is of 500 gigawatt of non-fossil capacity, out of which we will hav

After world's largest office, Gujarat to host India's 'biggest mall'

The Lulu Group will begin the construction of the mall in Ahmedabad this year. Branded as India's largest, it will cost Rs 3,000 crore, according the officials

3 MoUs in semiconductor sector on day 2 of Vibrant Gujarat Summit

Three memorandums of understanding (MoUs) were signed in the semiconductor sector on the second day of the 10th Vibrant Gujarat Global Summit here on Thursday, one of them with South Korean firm Simmtech which committed an investment of Rs 1,250 crore in Gujarat for printed circuit board (PCB) manufacturing, an official said. The other two pacts were business-to-business collaborations involving four different companies, including corporate giants like ArcelorMittal Nippon Steel, Micron Technology and Cisco, he said. A slew of other agreements in various sectors were also finalised on the second day of the three-day summit. Five MoUs were inked in the port sector with the Gujarat Maritime Board (GMB) finalising agreements with the Indian Navy and the Indian Coast Guard in areas of jetties and infrastructure development, with investment proposal of Rs 800 crore and Rs 174 crore, respectively, said Vice-Chairman and Managing Director of Gujarat Industrial Development Corporation ...

Direct listing of stocks at GIFT City soon, says FM Nirmala Sitharaman

Sitharaman also expressed that IFSC should become the platform for the trade of carbon credit

ENGIE plans to invest Rs 17,200 cr to set up renewable projects in Gujarat

Pune-based ENGIE plans to invest Rs 17,200 crore for the development of 2.5 GW of renewable energy projects in Gujarat. The company has signed a MoU with the Gujarat government in this regard at the ongoing 10th edition of Vibrant Gujarat Global Summit 2024 in Gandhinagar. These proposed projects are in addition to the ongoing development of a 400 MW solar project at Surendernagar in Gujarat, ENGIE said in a statement on Thursday. "This MoU signifies an investment of Rs 17,200 crore along with creating 14,000 new jobs, reflecting ENGIE India's commitment to contributing to the region's socio-economic development," the company said. Amit Jain, Country Manager, ENGIE India, said, "Through this cooperation with the government of Gujarat, our goal is to play a significant role in advancing the state's renewable energy sector and thereby making substantial contributions to India's overarching clean energy objectives." The company is mainly into renewable power generation.

Vibrant Gujarat Global Summit 2024: India a vishwa mitra, says PM Modi

All major rating agencies, Modi said, are of the opinion that India will be among the top three largest economies of the world in the next few years

Musk not attending Vibrant Guj but Tesla welcome to invest: Official

Amid speculation that Elon Musk will visit Gujarat, a senior government official on Wednesday said the billionaire-founder of Tesla is not coming for the ongoing Vibrant Gujarat Global Summit, but they are welcome to invest in the state. The state is very keen to get Tesla if it comes to India, Managing Director of Gujarat Industrial Development Corporation Rahul Gupta said. He also said the state is already home to a slew of electric vehicle manufacturers. To a specific question on whether Musk is expected to attend the three-day event inaugurated by Prime Minister Narendra Modi earlier in the day, a state government official replied in the negative. "Musk is not expected. If he were to come, would he not attend the inaugural session? Will he be attending the seminars on day 2 and day 3?" the official said on the condition of anonymity. Speculation was rife that Musk might attend the summit. "You will appreciate that it is the prerogative of any particular company on where to in

Modi most successful Indian PM, greatest global leader, says Mukesh Ambani

Narendra Modi is India's most successful Prime Minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion (Rs 12 lakh crore) investment in last 10 years. With Prime Minister Modi on the dias, Ambani termed the biennial Vibrant Gujarat Global Summit -- which was conceived when Modi was chief minister of the state two decades back -- as "the most prestigious investor summit in the world". "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," said the head of India's most valuable company Reliance Industries Ltd. He went on to state that when Modi speaks, the whole world not only listens but applauds. "My friends abroad ask me: What is the meaning of the slogan that millions of Indians are chanting: Modi hai to Mumkin Hai? I tell th

At Vibrant Gujarat Global Summit, firms unveil big spending plans

At the Vibrant Gujarat Summit 2024, India's corporate goliaths- Adani, Ambani, and Tata- collectively announced mega investment plans for the state

Viksit Bharat not just dream, it's a possibility: NITI CEO Subrahmanyam

Asserting that 'Viksit Bharat' is not just a dream but a possibility, NITI Aayog CEO BVR Subrahmanyam on Wednesday said by most conservative estimates, India will be a USD 30 trillion economy by 2047. Speaking at the 10th Vibrant Gujarat Global Summit here, Subrahmanyam further said India is in a position to take a quantum leap. "Viksit Bharat is not just a dream, it's a possibility," he said. According to him, a vision document is being prepared for India to become a developed economy of USD 30 trillion by 2047, and it will be released by the Prime Minister by the end of January. "By most conservative estimates, India is going to be a USD 30 trillion economy by 2047," Subrahmanyam said. He noted that if all states become 'viksit' (developed) then the nation can also become viksit. The NITI Aayog CEO noted that massive expansion in physical and digital infrastructure has taken place in India. "India is outperforming other emerging economies," he said, adding that this is a turni

Vibrant Gujarat Global Summit 2024: Here's the list of no-parking zones

Gujarat Police issued notices sharing no parking zones from January 9 to 13, 2024. The security is observed for the security of VVIPs to avoid undesirable incidents

UAE President Al Nahyan addresses Vibrant Gujarat Global Summit 2024

Following his speech, PM Narendra Modi, in a post on social media platform X, lauded the UAE President and said that his statements were very encouraging

Next 25 years are India's 'Amrit Kaal': PM Modi at Vibrant Gujarat Summit

Vibrant Gujarat Summit 2024: Prime Minister Narendra Modi said that the world looks at India as an important pillar of stability

Vibrant Gujarat: India had incredible last decade, says Zerodha's Kamath

Vibrant Gujarat Global Summit: Nikhil Kamath is among the host of entrepreneurs, including business tycoons Gautam Adani and Mukesh Ambani, who addressed Gujarat's key investment summit on Wednesday

Vibrant Gujarat 2024: Tata to soon start new semiconductor factory in state

Vibrant Gujarat Summit: 'Tata Group is about to complete negotiations surrounding semiconductor fab plant in Gujarat,' announced chairman N Chandrasekaran

Infibeam Avenues signs pact with Gujarat to invest Rs 2,000 crore by 2030

Fintech firm Infibeam Avenues on Tuesday said it has inked a pact with the Gujarat government to invest Rs 2,000 crore in the state by 2030. The company announced the investment plan on the sidelines of the 10th edition of the Vibrant Gujarat Global Summit (VGGS) 2024. Infibeam said the proposed investment will go into its artificial intelligence (AI) hub for developing technology for payments and platforms specifically tailored for retailers. "With this MoU, we aim to fortify our partnership with the Gujarat government, opening up avenues for growth for retailers across the country," Infibeam Avenues Chairman and Managing Director Vishal Mehta said in a statement. Infibeam Avenues has named its AI-Hub located at GIFT city, Gandhinagar, as 'Phronetic.ai.