PM Modi to attract tech and EV investments at Gujarat summit ahead of LS polls.

Indian Prime Minister Narendra Modi is hosting the Vibrant Gujarat Global Summit this week in an effort to attract domestic and foreign investors to his home state. The event is expected to bring in around 100,000 visitors, including CEOs, business leaders, ministers, and diplomats from 133 countries. Among the foreign companies participating are Microsoft, Google, Suzuki, and Toyota. Modi hopes to attract investments to sectors such as chipmaking and electric vehicle manufacturing, where India currently lags behind. The summit serves as one of Modi’s final attempts to assure investors of his business-friendly policies before the upcoming national elections. U.S. companies, in particular, are showing interest in India as they seek to de-risk from China. The event will be held at a convention center in Gandhinagar, and hotel rooms in the area have become scarce and expensive due to the high demand. Gujarat has attracted significant foreign investments in recent years, ranking third among Indian states. Ahead of the summit, Gujarat signed investment agreements worth $120 billion with more than 200 companies. The state is now focusing on upcoming sectors such as semiconductors, electronics, and electric vehicles.

Prime Minister Narendra Modi is set to attract significant investments in the technology and electric vehicle (EV) sectors at the upcoming Gujarat summit. With the upcoming Lok Sabha elections in focus, PM Modi aims to boost the state’s economy by attracting major players in these industries. This move aligns with the government’s focus on promoting technology and green energy as part of their long-term vision for a sustainable and digitally advanced India. The summit is expected to witness a flurry of investment announcements, showcasing India’s commitment to becoming a global hub for technology and EV manufacturing.

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