Published: Wed, February 21, 2018
Research | By Raquel Erickson

Uttar Pradesh Investors' Summit: Industry majors commit Rs 88000 crore worth investments

Uttar Pradesh Investors' Summit: Industry majors commit Rs 88000 crore worth investments

Reliance Jio became one of the biggest telecom operators in the country overnight after Mukesh Ambani owned Reliance Jio invested Rs 2.5 lakh crores in setting up a state-of-the- art 4G network.

Reliance Industries chairman Mukesh Ambani, speaking during the event, said Reliance Jio would be present in every single village of the state by the 2018-end. "Almost 17 per cent of the total population of the country lives in Uttar Pradesh...the development story of the country can not be written without the state", he said. "We have created 40,000 direct and about 1 lakh indirect jobs".

The company will also establish a Centre for the Fourth Industrial Revolution on the campus of a reputed universityin Uttar Pradesh. While delivering his address, he reiterated his commitment to be a part of Namami Gange project through Reliance Foundation by joining it at the stage of execution.

The companies that assured investments over the next five years included Reliance Jio (Rs 10,000 crore), Adani group (Rs 35,000 crore), Aditya Birla Group (Rs 25,000 crore), Essel Group (Rs 18,750 crore) and Mahindra & Mahindra (Rs 200 crore), reported Hinudstan Times. "So it has been a long-standing relationship", he said, adding that the group will invest Rs 25,000 crore in the fields of finance, cement and chemical, among others.

"Uttar Pradesh has values and virtues, but it also needs value addition", the PM Modi says lauding the new policy "One district one product" of the Yogi government and said that it could prove to be the game changer for the state. By December 2018, Jio will have presence in every state.

Promising to stand with the leadership in transforming the state, Gautam 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.

"UP will become our Group's highest investment state".

During his speech at the summit, which aimed at showcasing investment opportunities and potential across various sectors in Uttar Pradesh, Ambani said that ensuring Uttar Pradesh's development is his "patriotic duty", and promised increased investment in the state.

The Prime Minister and other dignitaries also visited the exhibition kiosks at the trade pavilion, reports said.

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