Mukesh Ambani, the chairman of Reliance Industries Ltd., said: “We intend to invest an additional Rs 75,000 crore in UP over the following four years in Jio, retail, and renewable energy ventures. More than 1 lakh new employment would be created in the state thanks to these new investments.”
Mukesh Ambani, the chairman of Reliance Industries Ltd, declared on Friday, February 10 at the Uttar Pradesh Global Investors Summit 2023 that the company intends to invest Rs 75,000 crore over the course of the next four years in the state’s rollout of 5G mobile telephony services, retail network expansion, and establishment of renewable energy capacity.
Ambani also disclosed the entry of the oil-to-telecom giant into the bioenergy sector, which involves turning agricultural waste into gas that can be used as fuel in businesses, to drive cars, or to light kitchen stoves.
In the next ten months, the company “plans to create 10 GigaWatts of renewable energy capacity and roll out 5G services throughout the state,” Ambani stated. “We intend to invest an additional Rs 75,000 crore in UP over the following four years in Jio, retail, and renewable energy ventures. Over 1 lakh new jobs in the state will be created by these new investments “Added he. The current investment would be included in the state’s existing investment of Rs 50,000 crore.
The nation’s largest telecom provider by customers, Reliance Jio, intends to complete the 5G rollout to every town and village in the state by the end of 2023.
The company intends to conduct pilots on its two new innovative initiatives, Jio School and Jio AI Doctor, to bring world-class education and healthcare to villages and small towns across Uttar Pradesh at the most competitive price, he claimed, adding that this will help modernise all areas of business and industry, agriculture, the social sector, and governance.
He asserts that Reliance Retail will revolutionise countless kiranas and small businesses throughout the state, enabling them to expand and prosper. In addition to having physical locations, the business also distributes orders of goods and links customers to neighbouring Kirana stores via a mobile app and website.
The effort, in Ambani’s opinion, will help the state of Uttar Pradesh’s supply chain ecology as well as the area’s hard-working kisans, artisans, and craftsmen.
Ambani declared that the new energy division of the company would construct 10 GW of capacity, the largest in Uttar Pradesh.
Ambani remarked, “We will also establish an ambitious new bio-energy business,” without going into much detail. The project would assist farmers and aid in the management of solid waste and environmental development.
According to Ambani, this year’s Union Budget paved the way for India to become a developed country.
“It is famous for allocating the biggest amount of capital expenditure funds ever in order to establish the foundation for the nation’s growth. Without a doubt, this will increase social welfare and economic prosperity “Ambani remarked. India is, in my opinion, headed for very strong growth.
India has the greatest population of young people in the world, visionary leadership, and extraordinary hope and optimism among the populace, he said, all of which contribute to the country’s rapid adoption of technology.
“The fundamentals of the Indian economy cannot be questioned by anyone in the world. They’re hardy. It’s time for all of our enterprises to accelerate right now “Added he.
He continued by praising the state for its improved infrastructure, business friendliness, and law and order. Together, we can and will turn the most populated state in India into one of the most prosperous ones.