Key Announcements and Insights from Vibrant Gujarat Global Summit 2024
Jan 13, 2024: The second day of the Vibrant Gujarat Global Summit 2024 witnessed significant discussions and announcements across various sectors, showcasing India’s strides in electric vehicle (EV) manufacturing, industry 4.0, and port-led city development.
EV Industry’s GST Contribution: Nitin Gadkari Highlights Growth Prospects
Union Minister for Road Transport & Highways, Mr. Nitin Gadkari, addressing the ‘Electric Vehicle Manufacturing: Charging Ahead to 2047’ session, emphasized the substantial revenue contribution of the EV industry to both state and central governments through the Goods and Services Tax (GST). Gadkari urged the auto industry to invest, projecting a 50% annual growth rate in EV sales by 2030. He highlighted India’s achievement in becoming the third-largest automobile market globally and set a vision for the country to emerge as the top global automobile manufacturing hub.
Mr. Harsh Sanghavi, Minister of State for Transport, Government of Gujarat, highlighted the state’s policy-driven approach to deploying EVs in public transportation, ensuring a substantial return on investment. Union Minister of Heavy Industries, Dr. Mahendra Nath Pandey, underscored the government’s role in creating an EV-friendly ecosystem since 2015 and announced plans to start Advanced Chemistry Cell (ACC) battery production by February 2024.
Dharmendra Pradhan on Industry 4.0, Sarbananda Sonowal on Port-led Industrialization
Mr. Dharmendra Pradhan, Union Minister of Education and Skill Development & Entrepreneurship, spoke on ‘Building Workforces for Future: Development of Skills for Industry 4.0.’ He highlighted Gujarat as a trailblazer and emphasized the critical role of advancements like 5G and digital public infrastructure. Pradhan noted the convergence of demography, demand, and decisive government action, defining ‘the Indian moment’ in global industrial and innovation landscapes.
Union Minister, Mr. Sarbananda Sonowal, participated in the “Seminar on Port-led City Development,” emphasizing the importance of port-led industrialization. He highlighted completed projects under the Sagarmala program and the development of 8000 acres of land at major ports for industrialization, creating 2 lakh direct and indirect jobs.
Global Collaborations and Country Seminars
Various country seminars highlighted opportunities for collaboration. Estonia showcased its potential in machinery, electrical equipment manufacturing, engineering, cleantech, ICT, and other business services. Malaysia extended an invitation to Gujarat’s hi-tech companies, citing pro-business policies and regulatory ease. Slovakia presented its potential in automobile, connectivity, and manufacturing, while Finland emphasized climate tech and innovation for sustainability. Rwanda urged strengthened business cooperation, showcasing ease of doing business and commitment to sustainable tourism.
The Vibrant Gujarat Global Summit 2024 continues to serve as a platform for global collaboration and the exchange of insights across diverse sectors, furthering India’s position as a key player in the global economic landscape.
