Gujarat 'Most Preferred Investment Destination' for semiconductors: CM Bhupendra Patel

In the upcoming Summit, seminars and conferences on essential topics such as new emerging sectors, renewable energy, semiconductors, sustainable manufacturing, green hydrogen, electric mobility, and Industry 4.0 will be organised.

Ahead of the 10th edition of the Vibrant Gujarat Global Summit scheduled for January 2024, Chief Minister Bhupendra Patel on October 6 said the state is the ‘Most Preferred Destination’ in the production of semiconductor and display fab.

"Gujarat is the ‘Most Preferred Destination’ in the production of semiconduction and display fab. It is the first state to implement the Semiconductor Policy in the country," Patel said at the New Delhi curtain-raiser event on Vibrant Gujarat Global Summit 2024.

The 10th edition of the Vibrant Gujarat summit will be inaugurated by Prime Minister Narendra Modi on January 10, 2024. It is themed on ‘Gateway to the Future’.

"Gujarat will realize the vision of a ‘Viksit Bharat @2047’ through this summit. With a proactive policy-led approach, ease of doing business, investor-friendly attitude, and robust industrial infrastructure, Gujarat has emerged as the most preferred investment destination,” Patel said.

Over 1,500 investors and entrepreneurs from diverse industries attended the curtain raiser including ArcelorMittal Nippon Steel (AMNS) India CEO Dilip Oommen, Maruti Suzuki MD and CEO Hisashi Takeuchi, Welspun Group Chairman BK Goenka and UK India Business Council Group CEO Richard McCallum.

“Gujarat's potential to the world is seen through the creation of new industries, technology, and job opportunities. Gujarat has become a symbol of development through the Vibrant Gujarat Summit. Gujarat, for the past two decades, has earned recognition as India's Growth Engine. The Summit has evolved into a platform for business networking, knowledge sharing, and socio-economic development,” he said.

The chief minister highlighted the grand success of two decades of Vibrant Gujarat. He pointed out that the seed of Vibrant Summit has now matured into a banyan tree.

“In Gujarat’s GIFT City, new emerging sectors like aircraft leasing, financing, and fintech hubs are being developed. Dholera Special Investment Regions (SIR) will become India's largest greenfield industrial investment region and a greenfield smart industrial city,” he said.

In the renewable energy sector, Gujarat has also taken initiatives in line with the vision of a Net Zero Economy.  He stated that Gujarat contributes 15 percent share of the country's total renewable energy capacity. The state's renewable energy capacity has reached 20 GW. Furthermore, Gujarat has set its target of generating 100 GW of renewable energy through the Green Hydrogen Mission.

In the upcoming Summit, seminars and conferences on essential topics such as new emerging sectors, renewable energy, semiconductors, sustainable manufacturing, green hydrogen, electric mobility, and Industry 4.0 will be organised.

Chief Secretary Raj Kumar asserted that Gujarat is the most accessible state for industry and investment in the country.