Global Investor Summit 2023: Mukesh Ambani said that these new investments will create an additional over 1 lakh jobs in the state.

Reliance Industries Chairman Mukesh Ambani said that the conglomerate will invest Rs 75,000 crore in Uttar Pradesh. Ambani was delivering a speech at the Global Investor Summit 2023, held in Lucknow.

“Today, I am happy to announce that we plan to invest an additional Rs 75,000 crore in UP over the next four years across Jio, Retail, and Renewable Businesses. These new investments will create an additional over 1 lakh jobs in the state,” he said during the speech.

He said the business community can together transform India’s most populous state into one of India’s most prosperous states. Ambani said that Jio will roll out 5G to cover every town and village in the state by December of 2023, ten months from today. Jio Platforms will modernise all areas of business and industry, agriculture, social sector and governance.

Ambani also said that they plan to pilot two of their initiatives, Jio School and Jio AI Doctor, to bring top-notch education and healthcare to the small towns and villages of the state. Additionally Reliance Retail will revolutionise thousands of kirana and small stores in UP, and enable them to grow 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,” he said.

Reliance will set up 10 GW of renewable energy capacity in the state. They will also start the bio-energy business in UP, he said.

“Our philanthropic arm, Reliance Foundation, is contributing to the success of Pradhan Mantri ji’s Namaami Gange Mission. It will continue to engage with partners and government in its mission to transform lives and livelihoods in the state. In a nutshell, Reliance will continue to work for UP, jee jaan se,” he said.

Ambani said that he participated in the summit last in 2018, when Reliance was just beginning its journey in UP. Since then, the company has invested Rs 50,000 crore in UP, said Ambani. The RIL businesses have not only been growth multipliers but also employment multipliers, he said. Reliance’s investments have generated over 80,000 direct and indirect jobs in the state, he mentioned.

https://www.businesstoday.in/amp/latest/corporate/story/global-investor-summit-2023-reliance-to-invest-rs-75000-crore-in-up-says-mukesh-ambani-369753-2023-02-10