💸 Adani's Rs. 2 Lakh Crore Investment in Gujarat Summit Explained
Day 1 of Vibrant Gujarat Summit was as crazy as it gets. Read on!
While one part of the country is preparing for the Ram Mandir inauguration, Gujarat is all set with its grand investment event.
Yes, we're talking about the Vibrant Gujarat Summit, a global platform for over 14 countries to enable economic growth and investments.
The event is planned to be held from 10 January 2024 to 12 January 2024.
And on just day 1, the city has received massive investments from Adani.
Why? How will this help the economy?
Read on.
Adani announced an investment of Rs. 2 Lakh Crore in Gujarat over the next 5 years!
A majority of this investment will go towards setting up the world's LARGEST clean energy park.
So large that it will be visible even from space!
Still wondering how large that is?
Let us quantity it for you.
The park’s area: 725 sq kms.
That's slightly larger than Mumbai!
Yes, the dream city is just 603 sq kms in area!
This green park will be built in Khavda, Kutch, and will generate over 30 GW of renewable energy.
How will this help?
Well, it will:
Boost Gujarat's economy towards green energy
Create over 1 lakh direct and indirect jobs, contributing to "Viksit Gujarat"
But, hey.
This is not Adani's first investment in Gujarat.
At the previous summit, the Adani group had committed a Rs. 55,000 crore investment by 2025.
And it has already invested Rs. 50,000 crore so far.
The group's focus is not just on energy production.
Rather it is creating an entire ecosystem around renewable energy.
Solar panels, wind turbines, hydrogen electrolysers, green ammonia, and expansions in PVC and cement production - it wants to control it all!
But, hey.
Adani is not the only player on ground.
Enter Ambani!
Ambani will set up a 5000-acre (~20 sq kms) green energy giga complex in Jamnagar in 2024.
It will also set up India's first carbon fibre facility in Hazira, Gujarat.
Now, this is not the only contribution by Reliance to Gujarat.
It has already invested over Rs. 12 lakh crore to create world-class assets across India.
Out of this, over one-third is invested in Gujarat alone.
Gujarat's growth is clearly going stonks with the richest people bringing in money to the state.
What else happened at the Summit?
Tata, Suzuki Motor and other Dutch and Singapore companies also announced investments in India.
What were they?
Comment ‘Yes’ and we'll share a post on it tomorrow!
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Interesting
Pls share other investment details as well