Gujrat: Net-Zero Emissions
Net-Zero Emissions: Gujarat’s Chief Minister, Bhupendra Patel, has announced the state’s commitment to becoming a green energy and semiconductor hub, playing a pivotal role in India’s journey towards achieving its net-zero carbon emissions target. Patel highlighted Gujarat’s significant contributions to renewable energy production and its ambitious goals during the curtain-raiser event for the 10th Vibrant Gujarat Global Summit scheduled for January 2024.
Gujarat’s Renewable Energy Leadership
Gujarat currently stands as a leader in renewable energy production, generating 20 gigawatts (GW), which accounts for approximately 15% of India’s total renewable energy output. The state has set an ambitious target of reaching 100 GW of renewable energy capacity under the green hydrogen mission. This commitment underscores Gujarat’s dedication to sustainable energy sources and reducing carbon emissions.
In line with the Hon. PM Shri @narendramodi commitment to make India a net zero economy Hon. CM Shri @Bhupendrapbjp said Gujarat has started several initiatives in Renewable Energy & aims to achieve a 50% target of Renewable Energy capacity by 2030.https://t.co/ZmXtYv9m4m
— Vibrant Gujarat (@VibrantGujarat) October 6, 2023
Semiconductor Hub and Job Creation
In 2022, Gujarat became the first Indian state to formulate a dedicated semiconductor policy, signaling its intention to establish itself as a semiconductor and display fabrication manufacturing hub. This strategic move aims to create 200,000 job opportunities within the next five years.
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The state government plans to offer substantial subsidies on power, water, and land tariffs to companies investing in semiconductor manufacturing. Additionally, capital and capital expenditure (capex) assistance will be extended to further incentivize investment. Leading semiconductor company Micron Technology has already announced plans to invest $85 million in setting up a plant on the outskirts of Ahmedabad.
10th Vibrant Gujarat Global Summit
The upcoming 10th Vibrant Gujarat Global Summit, is scheduled from January 10 to 12, 2024. It will play a crucial role in showcasing Gujarat’s commitment to sustainable and innovative industries. The summit will be inaugurated by Prime Minister Narendra Modi. It is also expected to host heads of states, global CEOs, and thought leaders.
With the theme “Gateway to the Future,” the event will focus on key areas such as Industry 4.0, technology and innovation, MSMEs (Micro, Small, and Medium Enterprises), emerging sectors, renewable energy, semiconductors, sustainable manufacturing, green hydrogen, and electric mobility.
Gujarat’s Investment-Friendly Environment
Chief Minister Bhupendra Patel emphasized Gujarat’s role in supporting Prime Minister Modi’s vision of a developed India. Key projects like GIFT City, Dholera smart city, DREAM City in Surat, the Ahmedabad-Mumbai high-speed rail project, and greenfield ports are driving economic growth and investment opportunities in the state. Patel reaffirmed Gujarat’s commitment to providing comprehensive support to businesses and investors, creating a conducive environment for their operations.
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