Big Promises From Big Guns In UP Investor Summit 2018

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Mukesh Ambani   

“Reliance Industries Ltd (RIL) will invest Rs10,000 crore in Uttar Pradesh over the next three years, chairman and managing director Mukesh Ambani said at the Uttar Pradesh Investors’ Summit. RIL’s telecom venture Reliance Jio Infocomm has over the years invested Rs20,000 crore in UP. Also, Jio will make available over 20 million JioPhones in UP within the next two months on a priority basis, Ambani said.

JioPhones are 4G phones available for a refundable deposit of Rs1,500 a month.In addition, RIL will create over 100,000 sustainable livelihood opportunities in the state in the coming years.“Along with other businesses of Reliance such as retail, polyester and petroleum, Jio will create over one lakh sustainable livelihood opportunities in the state in the coming years. Jio has already created over 40,000 direct and indirect jobs in UP,” Ambani said.

Gautam Adani

Adani Group announced that it will invest Rs 35,000 crore in Uttar Pradesh over the next five years in various sectors.Promising to stand with the leadership in transforming the state, Gautam Adani of the Adani Group committed an aggregate investment of Rs 35,000 crores in UP.

Speaking at the inaugural session of the Investors Summit- 2018, Adani said energy, logistics, solar power, roads, and agriculture are among the core sectors in which his group is working and showed interest in investing in these fields.”Almost 17% of the total population of the country lives in Uttar Pradesh…the development story of the country cannot be written without the state,” Adani said.

Kumar Mangalam Birla

Aditya Birla Group announced that it will invest Rs25,000 crore in Uttar Pradesh over the next 5 years across various sectors. The state has been one of the major investment destinations for the company, chairman of the Aditya Birla Group, Kumar Mangalam Birla said at the Investors Summit in Lucknow. “We have been among UP’s one of the earliest investors with a significant presence here. So it has been a long-standing relationship,” he said. Sharing his investment plans for the state, Birla said the group will invest Rs25,000 crore in the fields of finance, cement and chemical, among others.

The group is working in 400 villages under the corporate social responsibility, he said, promising to contribute to the progress of the state. Congratulating UP chief minister Yogi Adityanath for creating an atmosphere favourable for investment, Birla said the state has improved power supply and has made land available for setting up of new facilities.

This article is part of Governance Democracy& Politics (GDP) Magazine’s March Issue

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