He also noted that in the last 20 years, the Vibrant Gujarat Global Summit has given a platform to new ideas and has also created new gateways for investments. 
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He also noted that in the last 20 years, the Vibrant Gujarat Global Summit has given a platform to new ideas and has also created new gateways for investments. Prime Minister Narendra Modi on Wednesday underlined the role of structural reforms undertaken by the government in the last 10 years in the resilience and momentum of the Indian economy and said he guarantees that India would become the third-largest economy in the world over the next few years.
Addressing the inaugural session of the Vibrant Gujarat Global Summit, the Prime Minister noted that this has already been forecast by most rating agencies. He also highlighted that India has become the fifth largest economy from the 11th largest economy over the last 10 years.
He underlined India's priorities as sustainable industry, infrastructure and manufacturing, new age skills, futuristic technologies, AI and innovation, green hydrogen, renewable energy and semi conductors.
Addressing global investors as well as heads of states and foreign delegations, the PM said that some of these can also be seen at the Vibrant Gujarat Trade Show.
He also noted that in the last 20 years, the Vibrant Gujarat Global Summit has given a platform to new ideas and has also created new gateways for investments.
The 10th edition of the Vibrant Gujarat Global Summit also saw captains of India Inc and chiefs of multinational corporation committing furter investments to the state.
Addressing the inaugural session, Gujarat chief minister Bhupendrabhai Patel underlined that Gujarat will be the growth engine for the Prime Minister's vision of Viksit Bharat 2047. He further highlighted that 50% of the MoUs being signed at the global investor summit are green MoUs aimed at investments in green and renewable energy.
Gautam Adani, Chairman, Adani Group said the group will invest Rs 2 lakh crore in Gujarat over the next five years in the state. "At the previous summit, we had committed to investing Rs 55,000 crore by 2025...the investment has already crossed Rs 50,000 crore," he said.
Mukesh Ambani, Chairman, Reliance Industries Ltd noted that over the last 10 years, Reliance has invested over Rs 12 lakh crore to create world class assets across the country of which more than one third have been in Gujarat. He also committed further investments to the state in five areas including green energy, 5G enabled AI to create jobs, circular economy.
Reliance is setting up a carbon fibre facility in the state and is also building the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. The first green complex will be commissioned in the second half of 2024. Ambani said the group will work to make Gujarat a global leader in green growth and half of the state's energy will be through renewable energy.
Reliance’s Retail will further accelerate its mission to bring quality products, he said. Further in line with the PM' announcement that India will bid for 2036 Olympics, 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.
Meanwhile Lakshmi Mittal, Executive Chairman, Arcellor Mittal said that the company will build the first integrated location steel company in Hazira. The second phase of the project, for which an MoU will be signed, will be completed by 2029 and enable production of 24 million tonne of crude steel.
Japanese carmaker Suzuki Motors also unveiled plans to ramp up its production capacity in the state. Toshihiro Suzuki, President, Suzuki Motor Corporation said the company will invest Rs 35,000 crore to set up its second manufacturing facility in Gujarat. It will also increase its total production from the state to 2 million units annually.
Tata Sons Chairman N Chandrasekaran also outlined investment plans and said the group is about to launch a huge giga factory of 20 GW of Lithium Ion batteries and will soon launch the first phase of a skilling institute in the state that will train 25,000 people per year.
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