Vibrant Gujarat: Reliance Plans ₹7 Lakh Cr Bet as Adani, Others Announce Big Investments

Reliance Industries Chairman Mukesh Ambani on Sunday announced that over the next five years, his conglomerate will double its investments in the state of Gujarat to ₹7 lakh crore. He was speaking at the inaugural session of the Vibrant Gujarat Regional Conference at Rajkot’s Marwadi University.

Along with Reliance, a number of other companies also announced investments worth thousands of crores in the state, particularly in the Kutch and Saurashtra regions. The event is the first of four regional conferences that the Gujarat state government plans to organise in 2026.

“Reliance is the identity of Gujarat, and Gujarat is the heart of Reliance,” said Ambani.

He added that Reliance has so far been the largest investor in Gujarat. In the last five years, the company has invested ₹3.5 lakh crore, which will be doubled to ₹7 lakh crore over the next five years.

Ambani made five key commitments at the conference, including the development of the world’s largest integrated green energy ecosystem in Jamnagar, a multi-gigawatt solar project in Kutch to strengthen energy security, and India’s largest AI-ready data centre in Jamnagar, with an intelligence platform offering AI services in local languages.

The group will also support Ahmedabad’s 2036 Olympics vision by partnering with the Gujarat government and managing the Veer Savarkar Multi-Sports Complex, while setting up a world-class hospital in Jamnagar along with expanded education facilities.

Meanwhile, Adani Ports and Special Economic Zone (SEZ) MD Karan Adani announced that the group will invest ₹1.5 lakh crore in Mundra over the next five years to double the port’s capacity. The company will also build the world’s largest energy park in Mundra, with a capacity of 37 gigawatts.

Gautam Adani’s son also noted that for the Adani Group, Gujarat is not just a state of investment, it is their “foundation”.

“Gujarat is where our journey began, and Gujarat is where our long-term commitment remains anchored,” he said.

Other conglomerates also made major announcements. Rajkot-based machine tool manufacturer Jyoti CNC announced an investment of ₹10,000 crore in manufacturing, R&D and skill development over the next five years.

Meanwhile, B.K. Goenka-led Welspun announced plans to establish the world’s largest pipeline plant with an investment of ₹5,000 crore.

‘Right Time’ to Invest

Speaking at the event, Prime Minister Narendra Modi told investors that “this is the time, the right time” to invest in India, particularly in the Saurashtra and Kutch regions.

Highlighting the region’s role in making India a global manufacturing hub, he said that more than 2.5 lakh MSMEs are operational in Rajkot alone.

He also recalled that “at one time, I had dreamed of making the Morbi–Jamnagar–Rajkot triangle a ‘Mini Japan’, and today that dream is becoming a reality.”

Earlier, Chief Minister Bhupendra Patel said the Vibrant Gujarat Summit, launched in 2003 by then Chief Minister and now Prime Minister Narendra Modi, has helped position Gujarat as India’s growth engine and a preferred investment destination, attracting ₹3.57 lakh crore in foreign investment over the past 20 years.

He said the state is emerging as a “global gateway to the future”, with growth across sectors such as automobiles, semiconductors, AI, financial services and green energy. He added that a majority of projects announced at the 2024 summit, especially in the Saurashtra–Kutch region, are already operational.

Referring to the approximately 98,000 MoUs signed during the Vibrant Gujarat Summit 2024, he said that 25,500 were from the Saurashtra–Kutch region, of which 78% of the projects have already been commissioned.