Top Stock Benefited From Vibrant Gujarat Global Summit 2024
Imagine all the global leaders, top CEOs, and delegates from around the world gathered to discuss global concerning topics like renewable energy, technology, and innovation at the one place. Prime Minister Modi himself hosts this grand ceremony, making it an event to remember. In the tenth edition of the Vibrant Gujarat Summit 2024, ,multiple agreements were signed for a massive 41,299 projects valued at Rs 26.33 lakh crore. In this Blog we will try to cover everything important that happened in this summit. Just stick with us to the very end.
Global Powerhouses and Big Investments
The President of the UAE, Mohammed bin Zayed Al Nahyan, graced the event as the chief guest, dropping bombshell news about significant deals on renewable energy and healthcare collaborations between India and the UAE. UAE companies are also pouring big bucks into Indian ports.
Adani is making waves with a colossal Rs.2 lakh crore investment in Gujarat, promising a green energy park that aims to produce a staggering 30 GW of renewable energy. Mukesh Ambani spilled the beans about Reliance's jaw-dropping $150 billion investment in India, and Tata is making strategic moves with plans for a lithium-ion battery factory and a semiconductor fab. The summit is like a playground for big players.
Hold on tight; there's more exciting news. Suzuki Motors is dropping Rs.3,200 crore in Gujarat, and Micron Tech is gearing up to establish India's first semiconductor memory assembly and test facility with a hefty $2.75 billion investment.
Bullet Train and Urban Facelift
And did you hear about the bullet train? It's zooming along, and stations in Ayodhya are getting a facelift. The summit is not just about business; it's about transforming and enhancing infrastructure!
Performing Sectors
Now, if we draw conclusions from this entire summit about which sectors will be directly affected.
Let's take a look.
Renewable Energy
Healthcare Sector
Green Energy
Chemical Sector
Defense Sector
AI Sector
Auto Sector
Railways Sector
This is India's growth story. In this context, next month's budget will make announcements regarding CAPEX in various sectors. Consequently, the ongoing growth trend will receive a further boost.
Stocks to watch
The summit's ripple effect is reaching the stock market. Keep an eye on these hot stocks post-summit:
1. Gujarat Gas Ltd:
Leading in natural gas distribution with a focus on clean energy.
2. Hindustan Aeronautics (HAL):
A global player in the aerospace industry, with the spotlight on their fighter plane Tejas.
3. Tata Power:
Playing a massive role in the renewable energy game, with a Rs.70,000 crore MoU with the Gujarat government.
4. Paytm:
Throwing Rs.100 crore into Gujarat International Finance Tec-city, making it a hotspot for cross-border business transactions.
There is more to this, The summit's impact is stretching across sectors like Renewable Energy, Healthcare, Green Energy, and more. It's like India's growth story got a major uplift.
Record-Breaking Numbers
The 10th edition of the Vibrant Gujarat Global Summit has set new records with Memorandums of Understanding (MoUs) signed for a whopping 41,299 projects. Hold on to your hats - the potential investment proposals attached to these projects are mind-blowing, totaling Rs.26.33 lakh crore.
Gujarat-based Torrent Group stole the spotlight on the concluding day, announcing investments of Rs.47,350 crore in various projects, including renewable energy, solar parks, power distribution network, and hydrogen manufacturing facilities. Big names like Torrent Group are seeing immense potential and positive experiences working in Gujarat.
Impressive Continuation from Previous Summits
Gujarat Chief Minister Bhupendra Patel proudly shared on social media that the summit attracted massive investments in sectors like green hydrogen, renewable power, e-mobility, semiconductors, financial services, and fintech at GIFT city.
Adding up the MoUs signed at the previous summit (which was postponed due to the COVID-19 pandemic), a grand total of 98,540 agreements with investment proposals exceeding Rs.45 lakh crore were inked in 2022 and 2024.
Jammu & Kashmir, participating for the first time in the Vibrant Gujarat Global Summit, witnessed industrialists committing to invest Rs 3,000 crore in the Union Territory, according to Lieutenant Governor Manoj Sinha. Emphasising J&K's advantages, Sinha highlighted the region's "cheapest power" and a crime rate lower than several states, as per National Crime Records Bureau data.
The summit served as a platform for smaller states to attract investments, and Sinha urged industrialists to invest in J&K, touting its conducive atmosphere for a longer lifespan. He credited the state's progress to Prime Minister Narendra Modi and Home Minister Amit Shah, highlighting a successful industrial policy resulting in promising investments and infrastructure development. MoUs worth Rs 3,000 crore were signed between Gujarat's industry leaders and J&K's industry department.
Global Participation
The summit, inaugurated by Prime Minister Narendra Modi, saw the participation of over 61,000 delegates from 140 countries. UAE President Mohammed bin Zayed Al Nahyan graced the event as the chief guest, making it a high-profile gathering. Presidents of three countries, along with Minister-led delegations from over 40 nations, added to the global significance of the event.
Future Plans and Aspirations
Addressing the valedictory session, Union Home Minister Amit Shah reassured the industrialists about Gujarat's consistent delivery under Chief Minister Bhupendrabhai Patel's leadership. He emphasised that the Vibrant Gujarat Summit not only benefits the state but the entire country's economy.
Encouraging expansion plans, especially in northern India and Kashmir, Shah aligned the aspirations of Gujarati industrialists with Prime Minister Narendra Modi's vision for the development of the region. Manoj Sinha, Lieutenant Governor of Kashmir, also urged delegates to consider investing in Jammu and Kashmir, emphasising its significance for India's unity and integrity.
In a nutshell, the Vibrant Gujarat Summit 2024 has left an indelible mark on India's growth trajectory, promising a brighter and more sustainable future across diverse sectors.
Disclaimer
Investing requires careful planning. While opportunities may seem promising, it's essential to do thorough research, consult financial experts, and invest wisely. The blessings of the Ram Mandir opening may be abundant, but success in investing demands diligence.
