Mukesh Ambani Announces ₹20,000-Crore Investment Boost for West Bengal

• ByStartupStory     |    November 22, 2023

Reliance Industries Chairman and Managing Director, Mukesh Ambani, revealed on Tuesday a substantial investment of ₹20,000 crore earmarked for West Bengal over the next three years. Ambani outlined that this fresh injection of funds would be allocated to digital life solutions, retail expansion, and advancements in bio-energy.

Speaking at the Bengal Global Business Summit (BGBS), Ambani emphasized Bengal’s significance as a prime investment destination for Reliance, highlighting the company’s commitment with nearly ₹45,000 crore already invested in the state. He stated, “Reliance will leave no stone unturned to accelerate Bengal’s growth.”

The focus of the additional investment is geared towards enhancing digital life solutions, with the goal of improving livelihoods in Bengal and providing quality education, healthcare, and agricultural solutions at scale. Ambani also underscored the growth of Reliance Retail in the state, noting that the network of retail stores is set to expand from nearly 1,000 to over 1,200 within the next two years.

Ambani, referencing the impact of Jio Mart, highlighted that 5.50 lakh kirana merchants in the state have been integrated into modern and organized retail, leading to increased productivity, income, and benefits of scale.

In the realm of bio-energy, Reliance Industries plans to establish compressed bio-gas (CBG) plants in Bengal, aiming to set up 100 such plants in the next three years. These plants will utilize 5.5 million tonnes of agricultural residue and organic waste, providing an avenue for farmers to enhance their incomes by contributing as both food and energy producers.

Ambani also shared the company’s commitment to renovating and restoring the iconic Kalighat Temple in Kolkata through the Reliance Foundation. He stated, “We are in the process of repairing the entire temple complex, including the centuries-old heritage structures, and restoring the same to their original glory.”

With this substantial investment, Mukesh Ambani and Reliance Industries are poised to play a pivotal role in West Bengal’s economic growth, reinforcing their commitment to the state’s development across various sectors.

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