Gujarat’s Transformation: Tata, Mittal, Suzuki’s Strategic Investments – Dholera for Defense & Semiconductors, Sanand as E-Vehicle Hub, Hazira to Fulfill Green Hydrogen Demand

Lakshmi Mittal, Chairman of ArcelorMittal, N. Chandrasekaran, Chairman of Tata Sons, and Sanjay Mehrotra, CEO of Micron Technology, presented their business plans at the Vibrant Gujarat Summit 2024. They expressed confidence that Gujarat could realize the dream of a developed India by 2047. These companies have been actively contributing to industrial clusters like Sanand and Dholera, focusing on technology-based industries such as semiconductor manufacturing, defense vehicle production, and the introduction of electric vehicles.

Second Phase Milestone: MoU Signed by Lakshmi Mittal Today

Lakshmi Mittal emphasized the crucial role of steel in self-reliance. A significant project initiated four years ago by the Prime Minister is set to conclude by 2026, with a new site for the production of 24 million tons of steel, becoming the world’s first. The companies are also investing in steel, renewable energy, and hydrogen technologies. These initiatives are geared toward significant advancements in the next 20 years, aligning with the dream of achieving the goal by 2047.

Suzuki to Invest 25,000 Crores: A Major Boost for Gujarat

Suzuki Motor Corporation CEO, Toshihiro Suzuki, highlighted the continuous support received from the Indian government. With a growing automotive market and increased production capacity, Suzuki plans to export production from India to Japan and European countries. They also aim to enhance electric vehicle production, investing 25,000 crores for another plant.

Gujarat – Tata Group’s Key Destination for Economic Development

N. Chandrasekaran, Chairman of Tata Sons, acknowledged the impact of economic development in Gujarat, establishing it as a gateway to the future. Tata Group, with its roots in Gujarat dating back to 1939, has 21 companies in the state employing 50,000 people. Chandrasekaran mentioned the expansion plans, including the initiation of projects within a few months, focusing on semiconductor manufacturing in Dholera, starting in 2024. Gujarat remains a crucial destination for Tata Group’s economic activities.

Establishment of a Massive Gigafactory in Gujarat

We are initiating the construction of a large gigafactory, aiming to significantly contribute to both economic and robust social development. Gujarat has strategically positioned itself as the gateway to the future, particularly for the Tata Group. Recently, we have decided to expand our presence in the state of Gujarat, noting its potential for growth. The Sanand facility is actively involved in advancing the technology of all our electric vehicles. With increased capacity, Sanand will play a pivotal role in meeting the rising demand for electric vehicles. We plan to commence the construction of a gigafactory capable of producing 20 GWs of lithium-ion batteries for electric vehicles in the near future.

Providing Training to 25,000 Individuals Annually

It has been revealed that the Indian Skills Development Corporation is actively operating with 3.2 lakh job placements in various sectors. Additionally, an annual training program is set to provide skill development to 25,000 individuals in electronics and hospitality, launching in March 2024. Gujarat, being the most crucial location for the Tata Group, will significantly contribute to the economic development of the region.

Gujarat’s Role as the Semiconductor Hub Acknowledged by Microtron CEO

Sanjay Malhotra, CEO of Microtron Technology, expressed gratitude to the Prime Minister for recognizing India’s potential to become a global hub for semiconductors. He stated that Gujarat, with its vibrant environment, is crucial for India’s progress, and the Vibrant Gujarat summit played a vital role in shaping this vision. Malhotra commended the state officials and expressed pride in launching the first semiconductor factory in India. The project aims to create world-class facilities, and the recruitment process has started, offering direct employment to 5,000 individuals and indirectly benefiting 50,000 jobs from associated companies. The total investment in the project is USD 2.75 billion, contributing to the establishment of a semiconductor and ecosystem cluster that will assist other manufacturers as well.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.