Prime Minister Narendra Modi on Tuesday met some of the top global CEOs on the sidelines of the Vibrant Gujarat Global Summit.
As he sought investments across sectors to boost the economy and create jobs. A day before inaugurating the summit on January 10, Modi met executives of Suzuki Motor Corp, Micron Technology, AP Moller and DP World, and discussed industry issues and investment opportunities with them.
Modi and Toshihiro Suzuki, president of Suzuki Motor, “discussed Maruti Suzuki’s plans to make India a strong player in the global automotive market by exporting Made in India vehicles, along with deploying global best practices related to vehicle scrapping and vehicle recycling into India,” the Prime Minister’s Office said in a post on X (formerly Twitter).
Maruti Suzuki is looking to set up a second car factory in Gujarat, which will be the firm’s fifth plant in the country.
“Mr. Sanjay Mehrotra, the President and CEO of Micron Technology, held a meeting with PM @narendramodi in Gandhinagar. They discussed Micron’s efforts to enhance the semiconductor manufacturing ecosystem in India,” the PMO said in another post on X.
US chip making company Micron has started building a $2.75 billion semiconductor factory in Sanand, about 40km from Ahmedabad. The plant is expected to be ready by December this year.
Modi also met Ahmed bin Sulayem, group chairman and CEO of DP World. “They discussed DP World’s plans to further bolster investment in India, especially pertaining to creating sustainable, green, and energy-efficient ports, and world class sustainable logistic infrastructure,” the PMO said in a X post.
DP World is planning to sign three memorandums of understanding related to ports and port infrastructure with the Gujarat government during three-day summit that starts on Wednesday.
Ahmed bin Sulayem also met Gujarat chief minister Bhupendra Patel and discussed infrastructure projects with him, officials said. The company is likely to propose investments of more than ₹30,000 crore, an official said, declining to be named.
DP World had last year signed a concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million 20-foot equivalent unit (TEUs) per annum container terminal at Kandla in Gujarat. The Dubai-based logistics company operates five container terminals in India — two in Mumbai, and one each in Mundra, Cochin and Chennai — with a combined capacity of approximately 6 million TEUs.
Mohamed Eidha Almenhali, regional CEO of AD Ports Group of the United Arab Emirates, is also expected to sign an agreement at the summit to develop a port city in Gujarat, officials said. The Lulu Group International of the UAE is aiming to construct India’s largest shopping mall in Ahmedabad. The retail conglomerate is expected to sign an agreement at the meet to invest around ₹3,000 crore in Gujarat, they said, seeking anonymity.
West Asia plays a vital role in India’s economy as it supplies nearly 45% of India’s oil imports. Bilateral trade is flourishing in recent years, particularly with the UAE and other Arab states. Millions of Indians have migrated to the Persian Gulf for jobs, and they account for a sizeable share in the total overseas remittances.
Modi also met Keith Svendsen, CEO of AP Moller. “The PM welcomed their expansion plans in the GIFT City. Their discussions encompassed the crucial topics of green hydrogen and the development of logistics infrastructure,” the PMO said.
He also had a meeting with Iain Martin, vice-chancellor of Deakin University. “They had a productive discussion on enhancing collaboration between government and academic institutions pertaining to cybersecurity. The PM also welcomed Deakin University to collaborate with Indian universities for promoting research and innovation,” the PMO said in a post on X.
The summit is being held between January 10 and 2 and is expected to bring in around 100,000 visitors, including chief executives, business leaders, ministers and diplomats from 133 countries.
During the inaugural session of the 10th summit in Gandhinagar on Wednesday, Modi is expected to be joined by Czech Republic’s Prime Minister Petr Fiala as guest of honour. The chief guests will include UAE President Sheikh Mohamed bin Zayed Al Nahyan, Timor-Leste President José Ramos-Horta and Mozambique President Filipe Nyusi.