On the second day of the 10th Vibrant Gujarat Global Summit, three important memorandums of understanding (MoUs) were signed in the semiconductor sector, with a major highlight being the Rs 1,250 crore investment commitment from South Korean firm Simmtech for printed circuit board (PCB) manufacturing in Gujarat.
In addition to Simmtech’s commitment, two other business-to-business collaborations were forged, involving corporate giants ArcelorMittal Nippon Steel, Micron Technology, and Cisco, among others.
A diverse range of agreements spanning various sectors were finalized during the three-day summit. Notably, in the port sector, the Gujarat Maritime Board (GMB) sealed five MoUs, including agreements with the Indian Navy and the Indian Coast Guard, with proposed investments of Rs 800 crore and Rs 174 crore, respectively.
The Ahmedabad-based Indian National Space Promotion and Authorisation Centre (IN-SPACe) also made strides by signing an MoU with the Gujarat Knowledge Society to establish a semiconductor design ecosystem and facilitate talent development for space and commercial technology.
The Deendayal Port Authority at Kandla inked a substantial Rs 10,000 crore MoU with Umeandus Technologies for port infrastructure-related development. Additionally, a significant Rs 17,200-crore agreement in the field of renewable energy was signed between Jio Energy and the Gujarat government.
Further augmenting the summit’s success, GMB inked an MoU with Leela Ship Recycling Pvt Ltd, projected at a Rs 300 crore investment. The Gujarat government also entered into a strategic MoU with Open Network for Digital Commerce (ONDC), fostering digital platform usage for vendors and retailers.
Day 2 of the summit also witnessed the signing of business agreements in food processing and skill development segments. Rahul Gupta, Vice-Chairman and Managing Director of Gujarat Industrial Development Corporation (GIDC), highlighted that Simmtech plans to set up its unit at Sanand in Ahmedabad.
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Gupta further emphasied Gujarat’s commitment to technological advancements, stating, “Gujarat, which has announced a semiconductor policy, will manufacture the country’s first make in India chip in 2024.” He added that whether in Artificial Intelligence (AI), information technology, biotech, fintech, drones, or semiconductors, Gujarat aims to maintain its leadership position on the global stage.