Tesla is gearing up for its entry into the Indian market by planning its inaugural manufacturing plant in Gujarat soon. Media reports suggest that the ongoing negotiations to set up the first manufacturing unit of the EV maker in India are in their final stages and nearing a conclusion. According to these reports, the announcement unveiling the establishment of a Tesla manufacturing unit in the state is expected to occur during the upcoming Vibrant Gujarat Summit scheduled for January 2024.
For years, Gujarat has served as a strategic business hub.
28 countries confirm their participation
So far, 28 countries and 14 organisations have confirmed their participation as partner countries and organizations respectively for the upcoming Vibrant Gujarat Global Summit (VGGS) in January 2024.
These partner countries include Australia, Bangladesh, Czech Republic, Egypt, Estonia, Finland, Germany, Indonesia, Japan, Kenya, Malaysia, Malta, Morocco, Mozambique, Nepal, Netherlands, Norway, Poland, Republic of Korea, Rwanda, Singapore, Tanzania, Thailand, UAE, United Kingdom, Uruguay, Ghana, and Vietnam.
The partner organizations include the American Chamber of Commerce in India; EPIC India-University of Chicago; Indo-American Chamber of Commerce; Indo-African Chamber of Commerce and Industry; International Solar Alliance; Japan External Trade Organization (JETRO); Korea Trade and Investment Agency; Netherlands Business Support Office; Council of EU Chambers of Commerce in India; UAE India Business Council; US-India Business Council; and the US-India Strategic Partnership Forum.
47 fresh MoUs signed
With 47 fresh memorandums of understanding (MoUs) signed by industry with the state government, investments worth £15.7 billion are set to come to Gujarat. Pharmacies, apparel and textiles, green energy, healthcare, science and technology, agro, and food processing industries have all committed investments ahead of the state's mega investor summit. VGGS is expected to generate 759,000 new jobs in Gujarat.