UP Global Investors Summit 2023: Reliance To Invest Rs 75,000 Crore In UP In 4 Years
The investment will be used in expanding the telecom network, including the rollout of 5G services, retail, and new energy business in Uttar Pradesh, said Mukesh Ambani
Reliance Industries Chairman Mukesh Ambani on Friday announced a Rs 75,000 crore investment over the next four years in Uttar Pradesh. The investment will be used in expanding the telecom network, including the rollout of 5G services, retail, and new energy business in Uttar Pradesh, he said.
At UP Global Investor Summit 2023 in Lucknow, Ambani said, "Reliance to invest Rs 75,000 crore in next four years in UP across telecom, retail and new energy business…Reliance will set up 10 GW of renewable capacity in Uttar Pradesh, start bio-energy business in state.”
The Reliance Industries chairman added that Jio will roll out 5G across Uttar Pradesh by December 2023.
Speaking about the progress of the state, Ambani said, “Lucknow is a holy land, the land of Lord Shri Ram…Uttar Pradesh has become the center of hope today. Even when it comes to law and order, Uttar Pradesh is emerging as the best state of India.”
Ambani said Reliance Industries is committed to UP's growth. He reiterated his support towards UP by generating massive employment avenues, with accelerated industrial and social activities.
Reliance Industries is committed to UP's growth. Speaking at #UPGIS23 in Lucknow, Shri Mukesh Ambani, Chairman, Reliance Industries, reiterated his support towards UP by generating massive employment avenues, with accelerated industrial & social activities.#UPInvestorsSummit pic.twitter.com/ynPBmqCldl
— UP Investors Summit (@InvestInUp) February 10, 2023
He said that the UP Global Investors summit is the Mahakumbh of development.
“We plan to pilot our two new innovative initiatives, Jio School and Jio AI Doctor to bring top-class education and healthcare most affordably to villages and small towns across the state of Uttar Pradesh,” Ambani said.
In his speech, RIL chairman mentioned that Reliance Retail will revolutionise hundreds of thousands of kiraanas and small stores across UP, enabling them to grow more and earn more. “More importantly, we will increase manifold our sourcing of a wide range of agriculture and non-agro products from the state. It will benefit our hard-working kisans, local artisans, craftsmen, MSMEs, as well as the supply-chain ecosystem in UP.”
In New Energy front, Ambani said that RIL will set up 10 GW of Renewable Energy capacity — the largest in UP.
“We will also start an ambitious new Bio-Energy business. Reliance ke Bio-Energy udyog se UP ke kisanon ko bahut bada laabh hoga. Our investments have generated over 80,000 direct and indirect jobs in the state,” he added.
On Friday, Prime Minister Narendra Modi inaugurated the three-day Uttar Pradesh Global Investors Summit 2023 in Lucknow in the presence of UP Governor Anandiben Patel, CM Yogi Adityanath, and Defence Minister Rajnath Singh. The mega event will end on February 12 and is expected to witness the presence of several ministers of the Union and the state government and a host of leading industrialists.
Also present at the summit Chairman of Aditya Birla Group Kumarmangalam Birla. He said that Aditya Birla Group shares a deep bond with Uttar Pradesh. "In Renukoot, our metals flagship company Hindalco took roots way back in the 1950s. Since then our operations there have grown multifold."
"UP has gone through a metamorphosis in the last few years under the guidance of PM Narendra Modi and the leadership of CM Yogi Adityanath," Birla added.
N Chandrasekaran, chairman of Tata and Sons, said that 18 companies of Tata Group are present in Uttar Pradesh and more than 50,000 people work in UP. "In Uttar Pradesh, we are on a huge expansion across all our companies in the state. Our Hotel business sees a lot of opportunities in the state. UP is the first choice for foreign tourists as it has many religious, historical, and wildlife sanctuaries," he said.
Sanjay Mehta, CEO and MD, Hindustan Unilever, at UP Global Investors Summit 2023 in Lucknow, said, "UP is an important state for us. The help we receive from the govt here is outstanding. I advise investors to come to UP as the investment environment here is suitable and govt proactive."
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