Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
Maruti Suzuki, India's leading car manufacturer, and Tata Group, a prominent multinational conglomerate, are set to make major investments in the state of Gujarat, further expanding the region's position as a key destination for business growth and technological advancements.
Maruti Suzuki has outlined its ambitious plan to double its output to 4 million units by 2031, with an investment of over Rs 38,200 crore. As part of this expansion, the company will establish a new plant in Gujarat with a capacity to produce one million units per year. This facility will require an investment of Rs 35,000 crore and is expected to begin production by 2029. Maruti Suzuki also intends to invest Rs 3,200 crore to enhance the production of electric vehicles (EVs) in the state.
In addition to its production plans, Maruti Suzuki aims to significantly increase its exports, with a target of around 800,000 units by 2030-31. These initiatives highlight the company's commitment to meeting the rising demand for automobiles in domestic and international markets.
Tata Group has revealed that it intends to establish a large semiconductor fabrication plant in Dholera, Gujarat, which is scheduled to commence operations in 2024. This project is currently at the final stage of negotiation and will position Gujarat as a key player in the semiconductor industry, fostering technological advancements and contributing to the nation's economic growth.
Furthermore, Tata Group is set to construct a huge 20-gigawatt lithium-ion storage battery factory in Sanand City within the next two months. This ambitious project aligns with the group's vision to meet the escalating demand for electric vehicles. By solidifying Gujarat as a hub for EV technology, Tata Group aims to further reinforce its position as a leader in the clean energy revolution.
These ventures by Maruti Suzuki and Tata Group are expected to create numerous employment opportunities and stimulate the local economy. Gujarat's progressive policies, infrastructure, and strategic geographical location play an important role in attracting such significant investments. The state has already proved its mettle as a favorable destination for business growth, with Tata Group operating 21 companies in Gujarat and employing over 50,000 people.
The visionary leadership of Prime Minister Narendra Modi, who initiated the Vibrant Gujarat Global Summit two decades ago, has been instrumental in creating an environment conducive to economic progress. His commitment to promoting business and technological advancements has transformed Gujarat into a gateway to the future.
The investments by Maruti Suzuki and Tata Group not only enhance Gujarat's status as a preferred destination for major corporations but also demonstrate the rapid growth of advanced technology industries in India. As these projects become operational, they will undoubtedly contribute significantly to Gujarat's economic development and reinforce India's position as a global leader in the automotive and electronics sectors.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
