Reliance to Invest Rs 75,000 Cr in UP, says Ambani at GIS 2023

How is Mukesh Ambani leading the way for Uttar Pradesh's development? What major investment announcements did he make at the UP Global Investor Summit 2023? Know here!

Shreshtha Verma
10 Feb 2023 | Updated On 11 Feb 2023
Reliance to Invest Rs 75,000 Cr in UP, says Ambani at GIS 2023

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Representing India's business at the UP Global Investor Summit in Lucknow, Mukesh Ambani has made several major investment announcements in the state, extending support to Yogi Govt.

"Uttar Pradesh for India is what India is to the world! Uttar Pradesh is emerging as ‘Uttam’ Pradesh of India," said Mukesh Ambani at the GIS 2023.  

“Representing India's business at this summit, I would like to assure you that we are here to partner with you in your vision 2030,” noted Ambani at UPGIS2023.

“Together we can and we will transform India's most popular state into India's most prosperous state achieving your vision of a trillion dollar economy in the next five years,” he added.

He said, “Reliance will continue to work for UP ‘Jee Jaan se’, and we always back our words with action. When I last visited the summit in 2018, Reliance was just beginning its journey in UP and I had committed to Yogi ji that Reliance would be a reliable partner to UP, true to our word, from that day to now, we have invested Rs. 50 thousand crore in UP.” 

“Our businesses have not only been growth multipliers as they enable several sectors of the economy to grow but also employment multipliers.”

His commitment towards Uttar Pradesh and his vision of transforming the state into India's most prosperous state were the highlights of his speech. The major investments by Ambani includes the roll out of 5G to every town and village in Uttar Pradesh by December 2023, additional investment of Rs. 75,000 crore in UP over the next four years with an aim to generate over 1 lakh new jobs. 

Commitment to Partner with Uttar Pradesh

Mukesh Ambani assured the summit that he would partner with the state to achieve its vision of a trillion-dollar economy in the next five years. He emphasized that Uttar Pradesh was emerging as the 'Uttam' Pradesh of India. He further added that the state was essential to India, just as India was to the world.

Jio's Rollout of 5G

Jio, the telecom arm of Reliance Industries, will complete its rollout of 5G to cover every town and village in Uttar Pradesh by December 2023, according to Mukesh Ambani. He highlighted that Jio's 5G network would help modernize all areas of business, agriculture, the social sector, and governance.

Innovative Initiatives

Mukesh Ambani announced two new innovative initiatives - Jio School and Jio AI Doctor, which would bring top-class education and healthcare to villages and small towns across Uttar Pradesh at an affordable cost. He said that Jio Platforms would revolutionize the lives of hundreds of thousands of Kiranas and small stores in the state, enabling them to grow and earn more.

Agriculture and Non-Agri Sourcing

Reliance Retail plans to increase its sourcing of a wide range of agriculture and non-agricultural products from Uttar Pradesh, according to Mukesh Ambani. He said that this would benefit local farmers, artisans, craftsmen, MSMEs, and the supply chain ecosystem in the state.

Renewable Energy Capacity

In the field of new energy, Mukesh Ambani announced that Reliance Industries would set up 10 GW of renewable energy capacity in Uttar Pradesh, the largest in the state. He also revealed that Reliance Industries would start an ambitious new bioenergy business.

Contribution to Namanai Gange Mission

Mukesh Ambani announced that the philanthropic arm of Reliance Industries, Reliance Foundation, would continue to engage with partners and the government in its mission to transform lives and livelihoods in the state. He said that the foundation was contributing to the success of Prime Minister Modi's Namami Gange mission.

Additional Investment in Uttar Pradesh

Mukesh Ambani announced plans to invest an additional 75,000 crore in Uttar Pradesh over the next four years across Jio Retail and renewable businesses. He said that these new investments would create additional over 1 lakh jobs in the state.

Here's a full video of what Ambani has promised to UP!

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