Vibrant Gujarat Summit 2024 Live: India Will Be Third Largest Economy By 2027-28, Says FM Nirmala Sitharaman

• More than 80% people in India now have bank accounts.

• Per capita income of Gujarat is 1.7x national average.

• Gujarat is growing at a 12% CAGR in last 10 years.

• With emphasis on sunrise industries, India will become in-house producer of semiconductors.

• India has become the 3rd largest startup ecosystem.

• 100 billion UPI transactions happened in 2023 in India.

• Food processing plants have gone up significantly in the last 9 years.

• Over 50 crore people have been brought into the banking system.

• FPI flow has been high despite global risks and high rates maintained by the Fed.

• India will be the 3rd largest economy by 2027-28 and cross $5 trillion

• 57 lakh loans have been granted to street vendors in an effort to make ground-level credits easier.

• Able to make sure that technology is used to implement government schemes.

India has made the world believe that we can achieve our goal, says PM Modi.

• The world looks at India as an important pillar of stability.

• The world looks at India as a friend who can be trusted.

• The world looks at India as a hub of technology to find solutions.

PM Modi extends a warm welcome to have Mohammed bin Zayed Al Nahyan, the Chief Guest for the inauguration.

India and UAE signed many deals on renewable energy, innovative healthcare, says Modi, adding that UAE companies have agreed to invest billions of dollars in India's port infrastructure.

We have kept a target of making India a developed nation in next 25 years, says PM Narendra Modi.

Modi welcomes representatives of more than 100 nations as a part of India's road to development.

Last 10 years have been incredible for people like me, says Nikhil Kamath, co-founder and CFO, Zerodha.

⁠The big change in the last decade is the change in entrepreneurship from a thought we aspire to, to something we are actively trying, Kamath says.

Indians in the West who have done well experience a the FOMO about the India story, says Kamath. ⁠This chapter in the book of India should be titled “arrived”, he added.

Generative AI will change the way we work, live and govern, says Shankar Trivedi, Senior Vice President, Nvidia Global Field Operations, adding that PM Modi’s efforts have been a catalyst for the adoption of generative AI.

• ⁠First, We are rolling out curriculum content on generative AI to all our systems here.

• ⁠Eager to partner with technical and educational institutions to share it.

• ⁠Nvidia are partnering with leading business groups like Tata and Reliance to set up state of art AI data centres.

• Third, we are strong supporters of make in India, says Trivedi. "We are working with partners in upstream semiconductor ecosystem and downstream partners like system OEMs, ODMs, to set up the AI electronic ecosystem in India."

The steady and spectacular progress of Gujarat over time displays the leadership mindset of the Prime Minister, says N Chandrasekaran, Chairman, Tata Sons Ltd., adding that Gujarat has established itself as the gateway to the future.

• 21 Tata Group companies have a presence in Gujarat, employing over 50,000 people.

• Sanand is becoming the home for the Tata electric vehicle segment.

• Lithium ion factory construction will begin shortly.

• Negotiations underway for a huge semiconductor fab in Dholera, which is expected to begin in 2024.

• Gujarat is an important destination for the Tata group and we hope to be a part of the future of the state, Chandrasekaran says.

Simmtech will follow with a co-location investment after Micron, says Jeffery Chun, Global CEO of South Korea's Simmtech.

• Vibrant Gujarat showcases the new supply chain movement, and Simmtech is proud to be part of the movement.

• We are ready to make a significant investment in India in Gujarat with Micron.

• We look forward to support our customer’s supply chain.

Take immense pride in having been a part of each Vibrant Gujarat Summit, says Adani Group Chairman Gautam Adani.

• Adani Group has surpassed Rs 50,000 crore investment promised in last Vibrant Gujarat Summit.

• Expanding green supply chain for Atmanirbhar Bharat through various initiatives.

• In the next five years, Adani group to invest Rs 2 lakh crore in Gujarat, 1 lakh direct and indirect jobs expected.

Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.

Reliance was, is, and will always remain a Gujarati company, says Reliance Industries Ltd. Chairman Mukesh Ambani.

• Reliance has invested over $150 billion in last 10 years in India, one-third in Gujarat.

• Reliance will contribute to making Gujarat a global leader in green growth, with the aim to contribute to half of Gujarat’s green energy needs by 2030.

• Gujarat is fully 5G enabled, making the state a global leader in digital AI adoption.

• Reliance will make Gujarat a pioneer in new materials. First carbon fibre facility in Hazira is underway, says Ambani.

We will invest in the future of India also, says Toshihiro Suzuki, president, Suzuki Motor Corporation.

• Suzuki announces Rs 3,200 crore investment in Suzuki Motor Gujarat that will produce 2.5 lakh unit per year.

• Rs 3,500 crore worth second plant in Gujarat also announced, to bring out a total of 2 million units from India.

• Suzuki Motor announces plans to begin production of biogas in India. Four plants have begun work in Gujarat already, it said.

We are looking forward to the first phase of the ArcelorMittal Nippon Steel plant in Hazira, says Lakshmi Mittal, chairman of ArcelorMittal.

• We are not just players in steel, but renewable energy and green hydrogen.

• The next 20 years are very important for the country.

• We are ready to help realise the 2047 vision of the country.

The Vibrant Gujarat Global Summit is a place of business branding and bonding, says Gujarat CM Bhupendrabhai Patel.

• 34 partner countries, 16 partner organisations are taking part in the summit.

• Gujarat has emerged as the best destination for investment and growth.

The tenth edition of Vibrant Gujarat Global Summit is being held from Jan. 10 to 12, 2024 in Gandhinagar, Gujarat. The event was inaugurated in the presence of Prime Minister Narendra Modi and prominent captions of industry.