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Bengal Global Business Summit Mukesh Ambani Reliance to invest additional Rs 20,000 crore in 3 years

Reliance Industries Chairman and Managing Director Mukesh Ambani on Tuesday announced additional investment of Rs 20,000 crore in West Bengal over the next three years. Ambani, who was delivering his speech at the Bengal Global Business Summit (BGBS) in Kolkata, said the fresh investments will be in the areas of digital life solutions, retail and bio-energy.

“We plan to invest an additional Rs 20,000 crore in Bengal over the next three years on enhancing digital life solutions, expanding the reach of Reliance Retail and on bio-energy,” Ambani said. To date, Reliance Industries has invested around Rs 45,000 crore in Bengal in the last few years. He said, “Reliance will leave no stone unturned in accelerating the development of Bengal.”

During his address, Ambani said that Bengal’s GDP growth rate is 11.5 percent, which is much higher than the national average. “Your tax revenue has tripled and IT exports from the state have also increased,” he said.

According to the RIL CMD, Bengal’s capital expenditure on agriculture and allied sectors has increased almost seven times. “The number of medium and small scale industry clusters has increased 10 times. Bengal is poised to become the logistics hub of the East, which will attract new domestic and international investments. In terms of cost of doing business, it is one of the lowest In India,” he said.

View Mukesh Ambani’s full speech PDF

India is now poised to become a $10 trillion economy by 2030. This will make India the third largest economy in the world, Ambani said at the event, while adding that Bengal alone has the potential to become a trillion dollar economy. Near future. “A prosperous Bengal will again become India’s gateway to South-East and Far-East Asia.”

An investment of Rs 20,000 crore will be made in three sectors. According to Ambani, the investment will be aimed at scaling up digital life solutions in Bengal with an aim to enhance livelihoods and provide quality education, healthcare and agriculture solutions at scale. “Jio is set to complete the world’s fastest 5G rollout in India before the end of this year, i.e. 2023. And we have covered most parts of Bengal.”

Second, as Ambani said, Reliance Retail is also rapidly expanding its reach in the state. “Our network of around 1000 retail stores will expand to over 1,200 in the next two years. Our retail business is supporting hundreds of MSMEs.” And, thirdly, is in the field of bio-energy. “Today every country and every corporate has a huge responsibility to fight the climate crisis and save our planet. To make the world a better place for our future generations, we must act now and transition away from fossil fuels to clean, green and renewable There must be a rapid transition to energy.” ,” They said.

Ambani said the Reliance Foundation will also take up the restoration and restoration work of Kolkata’s iconic Kalighat temple to regain its “original glory”.

Apart from Mukesh Ambani, the 7th edition of the Bengal Global Business Summit is expected to include some top names like Sanjeev Puri, Chairman, ITC Limited; JSW Group Chairman Sajjan Jindal; RP-SG Group Chairman Sanjiv Goenka; and Harshvardhan Nevatia, chairman of Ambuja Nevatia Group.



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