New Delhi, Aug 31 (SocialNews.XYZ) Industry leaders on Monday highlighted Gujarat's investor-friendly policies, strong infrastructure and faster decision making process as major factors making the state one of India's most attractive investment destinations, ahead of the Vibrant Gujarat Global Summit 2027.
Speaking with IANS on the sidelines of a curtain-raiser event here for the summit, industry representatives said Gujarat's industrial ecosystem was creating opportunities across emerging sectors such as semiconductors, artificial intelligence and renewable energy.
ASSOCHAM President Nirmal Kumar Minda said Vibrant Gujarat had evolved beyond an investment summit into an economic platform connecting investors from India and across the world with the state.
"Vibrant Gujarat is not just an investment summit but an economic festival," Minda told IANS, adding that more than 1,000 industry representatives and investors had been invited to the curtain-raiser event.
He said investments in semiconductors and artificial intelligence were increasing in Dholera, while projects such as Maruti's new automobile plant in Sanand would strengthen the wider industrial ecosystem.
Minda also highlighted the importance of MSMEs in India's manufacturing sector and said they would gain opportunities to expand alongside large investments.
Meanwhile, DCM Shriram Chairman Ajay S Shriram said Vibrant Gujarat had helped establish the state firmly on the global investment map.
He further said his company had been operating in Gujarat for nearly three decades and its initial 100-tonne caustic soda facility had grown to a capacity of 2,250 tonnes.
The company has invested around Rs 5,000 crore in Gujarat over the past three-and-a-half years and is working on plans to invest another Rs 8,000-10,000 crore over the next four to five years along with associates and partners, he said.
Tata Power CEO Sanjay Banga said the company had a long-standing relationship with Gujarat and its 4,000-MW Mundra project played an important role in meeting the state's energy requirements.
The company also has around 700 MW of solar and wind power projects in Gujarat, while the state government has recently allocated land for development of another 3 GW of renewable energy projects, Banga said.
Tata Power is also evaluating a potential site in Gujarat for a nuclear power project and could proceed with further investment if technical and commercial feasibility studies are successful, he added.
The Vibrant Gujarat Global Summit 2027 is scheduled to be held in January next year.
Source: IANS
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