Mukesh Ambani vowed to create over 1 lakh jobs and invest ₹75,000 crore in 4 years in UP
- ByStartupStory | February 10, 2023
In the ongoing Uttar Pradesh Global Investors Summit 2023 happening in Lucknow ,Reliance Industries Limited (RIL) chairman Mukesh Ambani said the conglomerate would invest ₹75,000 crore in the next four years in Uttar Pradesh, the summit was also attended by Prime Minister Narendra Modi, along with UP’s chief minister Yogi Adityanath and the governor Anandiben Patel. The investment will be targeting the company’s telecom, retail and renewable businesses.
Reliance will continue to work for UP, jee jaan se (with mind and heart). And we always back our words with action,” said Ambani claiming that the new investments will create an additional over 1 lakh jobs in the state.
According to him, this investment will not only create enough job opportunities but also contribute to the economic multiplier thus bringing a healthy change in lives of people and accelerate the pace of growth.
RIL has invested ₹50,000 crore in the state till date, and helped generate over 80,000 direct and indirect jobs. The company’s telecom arm, Jio, is working towards completing its 5G rollout in every town and village of UP by the end of December 2023, he said.
“The divide between urban India and rural Bharat is also closing. There is unprecedented hope and optimism among the people. Nobody in the world can question the fundamentals of (the) Indian economy. They are robust,” said Ambani at the summit.
Other ventures
Jio School and Jio AI Doctor RIL are two pilot initiatives of the company to bring healthcare and education in an affordable manner to small towns and villages of the state.
He also outlined plans to set up 10 GW of renewable energy capacity — the largest in UP, and also start an ambitious new bio-energy business thus pushing towards green growth
Increase sourcing of a wide range of agriculture and non-agro products by many times over, from the state. RIL’s chairman said that it will benefit kisans (farmers), local artisans, craftsmen, MSMEs, as well as the supply-chain ecosystem in UP.
Entering the Golden Age
The business tycoon welcomed the first budget of Amrit Kal by calling it promising and prudent. This year’s Budget has indeed laid the foundation for India’s emergence as a developed nation. It stands out for its highest-ever resource allocation for building the foundation for a country’s growth in terms of capital expenditure,” he said.
Uttar Pradesh Global Investors Summit (UPGIS) 2023 scheduled from 10-12 February 2023 at Lucknow, is the flagship Investment Summit of the Government of Uttar Pradesh. The 3-day long Investors Summit will bring together policy makers, corporate leaders, business delegations, academia, think-tanks and Political and Government leadership from across the globe, to collectively explore business opportunities and forge partnerships.
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