00:00 (speaking in foreign language)
00:03 (upbeat music)
00:14 (upbeat music)
00:17 - Building a Vixit Bharat by 2047,
00:39 making India a developed country
00:41 and making it a $30 trillion economy
00:44 by this particular period of time.
00:46 These have been some of the tall claims made here
00:48 in the state of Gujarat
00:49 at the Vibrant Gujarat Global Summit in Gandhi Nagar.
00:53 We've also heard many industrialists,
00:55 many business leaders,
00:57 enthusiasts come under the same roof,
00:59 talk about how Gujarat can be the gateway to that future
01:02 and how investments are already underway
01:05 to enable the ecosystem here.
01:06 Priority sectors have been given a lot of importance here,
01:10 be it EV, be it clean energy and green hydrogen
01:13 or semiconductors that are already underway here
01:16 in this particular state.
01:18 The questions, however, remain,
01:19 how will this be implemented over the course of the years?
01:22 What does it mean for the direct employment opportunities
01:25 in the state?
01:26 What will that mean for the ancillary industries
01:29 that will build up in the wake
01:31 of a lot of these investments?
01:32 Take a look at what the Prime Minister
01:34 and the Finance Minister of the country
01:35 have to say on the subject.
01:37 (speaking in foreign language)
01:42,
02:08 (air whooshing)
02:09 - The Vikasad Bharat Agenda is a comprehensive vision plan
02:13 which is being developed by the government of India.
02:16 I appreciate the effort of the state
02:18 in getting this already on board.
02:22 21st century will be our century is one thing,
02:26 but even by 2027, 2028,
02:31 it is believed that we surely will be able to reach
02:34 the third largest economy.
02:38 - Goal.
02:39 (air whooshing)
02:40 - Chips have been a big part of the conversation
02:42 here in Gujarat.
02:44 How will India be the country that establishes dominance
02:47 in the semiconductor supply chain?
02:49 How will we make the business move away from China
02:52 where it is currently being dominated?
02:54 What will it mean for substrate manufacturing
02:57 here in the city?
02:58 What will it mean for semiconductor chip manufacturing
03:00 in the city?
03:02 Now, if we turn the clock back a little to June, 2023,
03:05 the prime minister visited the United States of America
03:08 where an MOU was signed with the company Micron
03:10 to establish a plant here in the state of Gujarat.
03:14 Now, shortly after, Simtech has also announced
03:17 a co-location investment here in the state.
03:19 Substrate manufacturer will be a crucial part
03:21 of the semiconductor supply chain.
03:24 We've also had big promises come in from the Tata Group
03:27 where the chairman, Mr. N. Chandrasekaran spoke about
03:30 how the group plans to establish
03:32 a semiconductor fabrication plant in Dholera
03:35 here and currently it's in a negotiation stage.
03:38 They hope by the end of 2024, they can begin construction
03:41 on what will be the biggest plant here
03:43 in this particular state.
03:45 This of course shifts the narrative
03:46 about how India can bring in and build that dominance
03:50 in semiconductor supply chain.
03:52 To that effect, we've also seen three MOUs being signed
03:55 over the course of the two days.
03:57 One of which has been with Simtech
03:59 and the Gujarat government.
04:01 Two more about building the skill development
04:03 for this particular industry in the state.
04:05 Currently, all the training that's happening
04:07 is happening at Micron's Malaysian plant
04:10 or perhaps even the training laboratories in Mohali.
04:14 But of course, not much is happening
04:15 in this particular state.
04:17 The Tata Group has also made a commitment
04:24 and is on the verge of concluding
04:29 and announcing a huge semiconductor fab in Dholera.
04:34 And we are about to complete this negotiations
04:39 and start in 2024.
04:43 A common theme that we're observing here in the state
04:48 is also about building smaller pockets of development
04:51 in various cities here.
04:53 Be it the biotechnology park for pharmaceuticals in Vadodara,
04:56 the ceramic park in Morbi,
04:58 the chemical port in Taihej,
05:00 the PM Mitra Mega Textile Park that will be in Nafsari,
05:04 or the lithium ion battery manufacturing
05:06 that is conceptualized for Sanan.
05:08 A common theme that we noticed while talking
05:10 with the Gujarat Industrial Development Corporation.
05:13 They were talking about the big plans
05:15 for this particular state
05:16 and how it's not just about individual pockets
05:18 here in Ahmedabad,
05:19 but rather building it all over the state.
05:21 That is something that's being envisioned.
05:23 Gujarat has never focused on numbers.
05:27 We basically concentrate on the quality of MOUs,
05:31 but I can certainly say that the number of MOUs
05:34 that we will have in the run up to the Vibrant Summit
05:38 and during the summit will be the highest ever recorded.
05:41 Of course, one of the bigger pockets that we've all known
05:47 for quite some time now is the financial city
05:49 of gift city here in Gujarat and what that has meant.
05:53 Now here at the Vibrant Gujarat,
05:55 we also got up with the MD of the gift city,
05:58 spoke to him about how many CEOs had shown interest
06:01 and what lies ahead for this particular city.
06:04 I can only speak for gift city.
06:08 We had 26 CEOs.
06:10 They were sort of handpicked in a sense,
06:12 covering all the FinTech areas.
06:15 And 26 of them had come, some CEOs, some chairman,
06:20 some head of the strategy.
06:24 I was also talking about how the potential for the city
06:28 is in fact in enabling much more FinTech activity
06:31 and even tech Fin activity.
06:33 Tech Fin of course is B2B.
06:35 Right now we have B2C activity happening here.
06:38 The finance minister was speaking about how
06:40 this particular city can also be a platform
06:43 for the trading of carbon credits.
06:45 A very emerging idea and concept.
06:48 Considering that India will have to be facing
06:50 carbon bottom adjustment mechanism
06:52 from many of the European states going forward
06:55 and how clean energy is becoming an increasing priority,
06:58 particularly when we're exporting to other countries.
07:02 She was also talking about how direct listing,
07:04 which is a very interesting concept again,
07:06 that will soon happen and be underway at gift city.
07:09 The much awaited matter of direct listing of stocks
07:16 and gift IFC was announced earlier.
07:20 We are going through the process in a very systematic manner
07:23 and I'm confident that it will happen at the earliest.
07:28 With that, Indian companies should be able to access
07:34 global funds easily being listed in India.
07:37 We have, several of us have mentioned that by 2047,
07:44 India should reach a $30 trillion economy size.
07:49 (air whooshing)
07:51 As the day draws to a close,
07:52 so does the three day event
07:54 of the Vibrant Gujarat Global Summit.
07:57 And the numbers that we've all been waiting for,
07:58 the total number of investments,
08:00 the total MOUs that have been signed are of some interest.
08:03 Chief Minister Bhupinder Bhai Patel has tweeted
08:06 about how this particular 10th edition
08:08 of the Vibrant Gujarat Global Summit
08:10 has raked in investments worth over 26.33 lakh crore
08:14 and this is in over 41,299 projects.
08:19 These are of course big numbers,
08:20 but what we're interested are the big ticket MOUs
08:22 that were signed in this particular edition.
08:25 So let's circle back to the inaugural ceremony
08:28 where Mukesh Ambani, Chairman of Reliance Industries
08:31 spoke about how he would be investing in green energy,
08:34 clean energy in this particular state
08:36 and he has promised investments over five lakh crore.
08:39 (air whooshing)
08:41 Reliance has invested over $150 billion,
08:47 that is 12 lakh crores in creating world-class assets
08:52 and capacities across India in the last 10 years.
08:57 Of this, more than one third has been invested
09:01 in Gujarat alone.
09:03 Reliance will continue to play a leading role
09:07 in Gujarat's growth story with significant investments
09:11 in the next 10 years.
09:12 Specifically, Reliance will contribute
09:16 to making Gujarat a global leader in green growth.
09:20 (air whooshing)
09:22 We've also heard Chairman of the Adani Group,
09:24 Gautam Adani speak about how over the next five years,
09:27 there will be over two lakh crore investments
09:29 happening here.
09:30 (air whooshing)
09:32 At the previous summit, I announced our investment
09:35 of over rupees 55,000 crores by 2025.
09:42 We have already surpassed rupees 50,000 crore
09:46 across the various sectors I had promised
09:50 and have vastly exceeded our target
09:52 of 25,000 direct and indirect jobs.
09:56 Today, I commit to further investments.
10:00 We are constructing the world's largest green energy park
10:04 in Akhavda district, Kutch,
10:07 generating 30 gigawatt of our renewable energy
10:12 over 725 square kilometer.
10:15 Even visible is from space.
10:19 We are expanding the green supply chain
10:24 for an Atmanirbhar Bharat
10:26 and creating the largest integrated
10:29 renewable energy ecosystems.
10:32 This includes solar panels, wind turbines,
10:36 hydrogen electrolyzers, green ammonia, PVC,
10:40 and expansion in our copper and cement projects.
10:44 Over the next five years,
10:47 the Adani Group will invest over rupees
10:51 two lakhs crore in Gujarat.
10:54 (audience applauding)
10:57 Thereby creating over 100,000 direct and indirect job.
11:02 (air whooshing)
11:04 NTPC also has made, has signed MOUs
11:08 for renewable energy projects over 9,050 crores.
11:12 So these are some of the big ticket MOUs
11:14 that have been signed in this particular edition.
11:17 If you take a recap of the various sectors
11:19 where MOUs have been signed,
11:20 of course there's semiconductors, green energy,
11:23 food and agri-processing, chemicals, IT, ITES,
11:28 FinTech, and of course infrastructure.
11:30 What we'll have to see is the implementation
11:33 and how these MOUs come into fruition.
11:35 Of course, many of these MOUs have different timelines
11:38 and establishing periods.
11:40 So we'll have to watch out closely
11:41 for the employment opportunities
11:43 coming from this particular event.
11:45 But as it is, this gateway to the future,
11:48 Vibrant Gujarat Global Summit comes to a close.
11:52 And we'll catch you in another exclusive at another event.
11:55 (upbeat music)
11:58 (dramatic music)
12:01 [music]
