Hailing the “Modi era”, global CEOs who arrived for the 10th Vibrant Gujarat Summit, pledged investments of over ₹2.36 lakh crore for Gujarat, including a new car factory and India’s carbon fibre facility.

Suzuki Motor Corporation promised to set up a second car manufacturing in Gujarat with an investment of ₹35,000 crore. This plant with ten lakh unit capacity will take the car manufacturing capacity of the company to 20 lakh units, said Toshihiro Suzuki, President of the company.

Currently, the first car manufacturing plant of Suzuki Motor Corporation at Hansalpur, Ahmedabad produces 7.5 lakh units. The company will be investing an additional ₹3,200 crore in this plant to set up a new line to produce electric vehicles. This investment will take the car producing capacity of the existing plant to ten lakh units. businessline earlier reported that the fourth line will be set up to produce electric SUVs.

“We have scaled up production capacity substantially in India. Compared to ten years ago, we expect 1.7 times of vehicle production and 2.6 times export sales in the current fiscal year,” said Toshihiro, while speaking at the inauguration of the Vibrant Gujarat summit, where Prime Minister Narendra Modi was also present.

Suzuki Motor Corporation also said that it isconstructing four biogas plants in Gujarat along with Banas Dairy and National Dairy Development Board, and will soon begin the production of biogas form cow-dung.

Mukesh Ambani, chairman of Reliance Industries said his company will set up India’s first carbon fibre facility at Hazira in South Gujarat. “The Modi era will take India to new summits of prosperity, progress and glory,” Ambani said, adding that he has been a part of the Vibrant Gujarat summits since its inception by Modi during his tenure as the Chief Minister of Gujarat in 2003.

Ambani said RIL has invested ₹12 lakh crore in India during the last ten years, of which one-third have flowed to Gujarat. “We have started building the Dhirubhai Ambani Green Energy Giga Complex over 5000 acres in Jamnagar. This will generate a large number of green jobs and enable production of green products and materials and will make Gujarat a leading exported of green products,” he added.

The RIL chairman also pointed out that Gujarat was “fully 5G enabled” under Reliance Jio.

Gautam Adani, chairman of Adani Group while speaking at the event promised to invest ₹2 lakh crore in Gujarat that will create one lakh direct and indirect jobs in the next five years. He said ₹50,000 crore of the promised investment of ₹55,000 crore, made during the 2019 edition of Vibrant Gujarat, has already been invested. “Today I further commit to further investments. We are constructing the world’s largest green energy park in Khavda, Kutch, generating 30 GW of renewable energy over 725 square kilometers, visible from space,” Adani said.

N Chandrasekaran, chairman, Tata Sons said the Tata Group will set up a semiconductor fab facility at Dholera SIR in 2024, and will extend the production of C295 Defence Aircraft to Dholera from the present venue of Vadodara. “We are about the launch the building of a 20 GW Lithium Ion battery unit at Sanand. The construction for the project should start in the next couple of months,” Chandrasekaran said.

Lakshmi Mittal, executive chairman of Arcelor Mittal said investments at Hazira will take the steel production capacity to 24 million tonnes per annum by 2029. Meanwhile, DP World said it will be investing $3 billion in India in the next three years. At the event, Yotta Data Services, announced the commissioning of its state of the art data centre facility -- Yotta G1 -- located in GIFT City.