The State of Gujarat has announced the tenth edition of the Vibrant Gujarat Global Summit (VGGS), scheduled for January 2024 and led by its Chief Minister Bhupendra Patel.
The State believes that VGSS has closely tied the growth of the State's automobile industry, which is valued at $3 billion.
A press release from the State Government noted that the State has an annual export of over eight lakh vehicles. Its journey towards becoming an automotive hub began with establishing the Tata Motors manufacturing plant in Sanand in 2009, acting as a magnet for domestic and international players.
Gujarat's automobile industry success stories include Ford Motors' INR 5,000 crore investment in Sanand in 2011, generating 3,000 jobs, and Suzuki Motors' INR 14,784 crore mega unit in 2014, creating 9,100 jobs. In 2022, Tata Motors acquired the Ford's plant in Sanand. Additionally, Gujarat's collaboration with JETRO has resulted in India's first plug-and-play park, the Japanese Industrial Park.
In 2017, MG Motors acquired GM India’s Halol Plant with an initial investment of INR 2,000 crore and an 80,000 units per annum production capacity.
Furthermore, the State has become a significant exporter of automobiles and auto components, with over eight lakh vehicles exported in the fiscal year 2021.
Gujarat is actively promoting electric vehicle (EV) manufacturing in keeping with the global shift towards electric mobility. The State Government has signed a momentous MoU with the Tata Group, worth INR 13,000 crore, to establish an EV battery plant. This aligns seamlessly with India's commitment to sustainable mobility and further positions Gujarat as a leading hub for EV manufacturing.
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