Reliance to invest Rs 75,000 crore in Uttar Pradesh in 4 years: Mukesh Ambani

Reliance Industries Ltd will invest Rs 75000 crore in rolling out 5G mobile telephony services expanding retail network and setting up renewable energy capacity in Uttar Pradesh in the next four years its chairman Mukesh Ambani said on FridayAmbani also announced foray of the oiltotelecom conglomerate into bioenergy business converting agriculture waste into gas which can be used as fuel in industries run automobiles or light kitchen stovesSpeaking at the Uttar Pradesh Global Investors Summit 2023 here Ambani said his group will set up 10 GigaWatts of renewable energy capacity and roll out 5G services across the state in the next 10 monthsWe plan to invest an additional Rs 75000 crore in UP over the next four years across Jio retail and renewable businesses he saidThese new investments will create an additional over 1 lakh jobs in the state he addedAlso Read Threat calls to Mukesh Ambani Suspect detained from Dahisar by Mumbai PoliceThe investment will be in addition to Rs 50000 crore already invested in the stateReliance Jio the nations largest telecom company by subscribers will complete its rollout of 5G to cover every town and village in the state by December 2023Stating that this will help modernise all areas of business and industry agriculture social sector and governance he said the company plans to do pilots on its two new innovative initiatives Jio School and Jio AI Doctor to bring topclass education and healthcare in the most affordable way to villages and small towns across Uttar PradeshReliance Retail he said will revolutionise hundreds of thousands of kiranas and small stores across the state enabling them to grow more and earn moreBesides physical stores the firm also connects customers to nearby kirana stores through a mobile app and website and also delivers goods ordersIt will benefit our hardworking kisans local artisans craftsmen MSMEs as well as the supply chain ecosystem in UP Ambani saidAmbani announced that the groups new energy arm will set up 10 GW of capacity the largest in UPWe will also start an ambitious new bioenergy business he said without giving much detailsThe venture would benefit farmers as well as help in solid waste management and improve the environmentAmbani said this years Union Budget has laid the foundation for Indias emergence as a developed nationIt stands out for its highest ever resource allocation for building the foundation for the countrys growth in terms of capital expenditure This is bound to not only boost economic growth but also achieve greater social welfare he saidI am confident that India is on a very strong growth path he saidAccording to him this is because Indians are embracing technology at a rate unseen even in the developed world it has the worlds largest population of young people has farsighted leadership and there is unprecedented hope and optimism among peopleNobody in the world can question the fundamentals of the Indian economy They are robust Now is the time for all our enterprises to step up on the accelerator he saidHe went on to shower lavish praise for the state for its improving law and order infrastructure and ease of doing business Together we can and we will transport Indias most populous state into one of Indias most prosperous statesThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever