Gujarat is in talks with semiconductor companies in Japan, South Korea, and the US for investment in the state, Chief Minister Bhupendra Patel told Reuters on Thursday.
Gujarat, which is Prime Minister Narendra Modi's home state, is holding its biennial Vibrant Gujarat Global Summit next week and has signed initial investment agreements worth $86 billion with 58 companies ahead of the event.
The summit is expected to draw a record number of foreign and domestic investors to the Western state in what is seen as Modi's big push to promote investment in the South Asian nation just months ahead of national elections, in which PM Modi will seek a third term.
Gujarat is one of the country's top industrial states, with an estimated 8.3% contribution to the country's gross domestic product (GDP), which it wants to increase to 10% by 2030, Patel said.
The state government will focus on renewable energy, green hydrogen, and green ammonia, among other investment sectors, during the summit, he added.
The state also expects to attract up to 4 trillion rupees ($48 billion) of renewable energy investments over the next five years, Gujarat's energy secretary said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
PM Modi Meets Mozambique, Timor Leste Presidents At Vibrant Gujarat Summit "My Brother It's An Honour...": PM's Welcome For UAE President In Gujarat Watch: PM Modi Holds Roadshow With UAE President In Ahmedabad MK Stalin Asks Centre To Recall Tamil Nadu Governor In Row Over Anthem Delhi Ex Minister Satyendar Jain Leaves Jail, Chief Minister Greets Him Tamil Nadu Police's Counter Petition In Supreme Court Against Sadhguru Meta Launches AI That Can Monitor Other AI As Human Involvement Diminishes Israel Says Intercepts Suspicious 'Aerial Target' Approaching From Syria Cuba Plunges Into Countrywide Darkness As National Power Grid Fails Track Latest News Live on NDTV.com and get news updates from India and around the world.