India a vishwa mitra: PM

INVESTORS LOOSEN PURSE STRINGS: Adani, Maruti, Tata, Welspun, AM/NS unveil mega plans

- 

India has emerged as "vishwa mitra", trusted rapidly friend, in the changing world order, said Prime Minister Narendra Modi on Wednesday. He projected the country as a new ray of hope amid global uncertainties and an engine of growth for the world economy.

The prime minister was addressing the Vibrant Gujarat Global Summit 2024 in Ahmedabad. The first day of the 3-day summit saw participation of a score of global business leaders and heads of several nations.

From the Adani group to the Tatas, and Maruti Suzuki to ArcelorMittal Nippon Steel India (AM/NS India) and Welspun, companies and conglomerates announced mega investment plans in the state.

Gautam Adani announced that his group would put in 2 trillion in Gujarat over the next five years, largely in setting up the world's largest clean energy project in Rann of Kutch desert. Suzuki Motor Corporation President Toshihiro Suzuki said Maruti Suzuki India would invest ₹35,000 crore to set up its second manufacturing facility in Gujarat to ramp up its annual production capacity to over 4 million units by 2030-31. The Tata group said it planned to start work on building a semiconductor fabrication plant in Gujarat this year.

Addressing the gathering, the prime minister noted that all major agencies estimate that India would be among the top three economies of the world in the coming years.

"Let people across the world do their analysis, but it is my guarantee that it will happen...," he said.

He further said in the recent past, India completed 75 years of independence and is now working on its goal for the next 25 years to become a developed country. "We have the goal of making it a developed country by the time it celebrates 100 years of independence.