Mukesh Ambani, the chairman of the oil-to-chemical, retail, and telecom giant Reliance Industries Ltd., announced on Friday a 75,000 crore investment in Uttar Pradesh over the next four years.
At the Uttar Pradesh Global Investors Summit in 2023, he declared that the Reliance group would expand the state’s telecom network, bring out 5G services, and engage in retail and new energy industries.
The telecom unit of Reliance Industries, Jio, will bring out 5G services throughout the state by December 2023, according to Reliance Industries chairman Mukesh Ambani.The oil-to-telecom giant will launch a bioenergy company in Uttar Pradesh and install 10 GW of renewable power.
The chairman of Reliance noted that the Union Budget’s allotment of capital expenditures “stands out.” To increase capital investment spending to 10 lakh crore, or 3.3% of GDP, the government would increase it by 33%.
The Uttar Pradesh Global Investors Summit 2023 was originally inaugurated on Friday by Prime Minister Narendra Modi. The dates of the event are February 10–12.The Uttar Pradesh government views it as its premier investment event. The summit aims to bring together policymakers, corporate titans, academics, think tanks, and world leaders to discuss commercial prospects and create alliances.
