The Vibrant Gujarat Global Summit 2019 brings substantial investments:
Gujarat has been a hub of trade and commerce for the last 5000 years, when the port of Lothal connected the then India to the world. Today, driven by the entrepreneurial Gujarati spirit, the state acted as the world’s gateway to opportunities in India during the recent Vibrant Gujarat Global Summit 2019.
One of the highlights of the event was a 210 billion investment proposal by China-based Tsingshan Group to set up a steel plant and a facility to manufacture car batteries in Dholera SIR. Also investment commitments totaling 4.02 trillion have been made by India Inc. Mukesh Ambani, CMD, Reliance Industries, announced at the Summit: “We have invested 3 trillion in Gujarat so far and created and catalyzed over 1 million livelihood opportunities in the state. In comparison to the past decades, Reliance Industries will double this investment and employment numbers over the next 10 years.”
Reliance Jio has committed funds for creating a digital ecosystem in the state. Ambani urged Prime Minister Narendra Modi to take steps against ‘data colonization’, especially by global corporations, stating that Indian data must be owned by Indians. In today’s time, data is new oil, new wealth, he said.
MAJOR INVESTMENTS
This story is from the February 2019 edition of Banking Frontiers.
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This story is from the February 2019 edition of Banking Frontiers.
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