Reliance plans to invest Rs 20,000 Crore in 3 years’: Mukesh Ambani at Bengal Business Summit

KOLKATA : Mr. Mukesh Ambani, Chairman and MD of Reliance Industries Limited (RIL), on Tuesday said that the company is planning to invest Rs 20,000 crore in West Bengal in the next three years.

“Reliance will leave no stone unturned to accelerate West Bengal’s growth. Reliance has invested close to Rs 45,000 crores in West Bengal. We plan to invest an additional Rs 20,000 crores in the next 3 years in the state,” Mr. Mukesh Ambani said at the 7th edition of Bengal Global Business Summit.

Ambani said the fresh investment will be done in three areas– digital life solutions, retail and bio-energy.

“JIO is about to complete the world’s fastest 5G rollout in India before the end of this year that is 2023. And we have covered most parts of Bengal. We are taking the revolutionary power of 5G to every nook and corner of the state, particularly to enrich and transform rural Bengal,” Ambani said in his speech.

“Reliance will leave no stone unturned to accelerate Bengal’s growth,” he asserted.

West Bengal Chief Minister Mamata Banerjee and former Indian cricket team captain Mr. Saurav Ganguly were also present at the event.

The Reliance Foundation will also take up the task of renovating and restoring the iconic Kalighat Temple in Kolkata to regain its “original glory”, Mr. Ambani added.

Ambani has expressed his vision of converting every home in West Bengal into a smart home with the rapid rollout of Jio Fibre and Air Fibre. He believes that this transformation will unleash new employment and entrepreneurial opportunities for millions in the state.

“With our rapid rollout of Jio Fibre and Air Fibre, every home in Bengal will be converted into smart homes very soon. With this, Bengal will be able to use Artificial Intelligence, Cloud Computing and other disruptive technologies to modernise every sector of its economy.This transformation will unleash new employment and entrepreneurial opportunities to millions in Bengal,” Mr. Mukesh Ambani said in West Bengal.

He further mentioned that Reliance Retail is increasing its footprint in the state and in the next two years, nearly 1,000 retail stores will be expanded to over 1,200. The company currently operate nearly 20 lakh square foot of warehouses in Bengal, Mr. Ambani added.

Reliance is also planning to establish 100 compressed biogas (CBG) plants in the next three years, which can consume 5.5 million tonnes of agricultural residue and organic waste.

“We will also help farmers to grow energy plantations on a large scale.This would help mitigate nearly 2 million tonnes of carbon emissions and produce 2.5 million tonnes of organic manure annually,” Mr. Ambani announced.

The company is further planning to set up CBG plants in Bengal that will enable Bengal farmers to increase their incomes by doubling up as anna daatas and urja daatas ─ producers of food as well as energy.