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Reliance to invest additional ₹20K Cr in Bengal in 3 years: Mukesh Ambani
Mukesh Ambani also said Jio is about to complete the world’s fastest 5G roll out in India before the end of this year
Reliance Industries chairman and managing director (MD) Mukesh Ambani announced on Tuesday that his company will invest an additional ₹20,000 crore in West Bengal in the next three years.
“West Bengal has been one of the largest investment destinations for Reliance. Reliance has invested close to ₹45,000 crore in the state. We plan to invest an additional ₹20,000 crore in the next three years,” Ambani said while speaking at the 7th Bengal Global Business Summit (BGBS)
The BGBS is the state’s flagship investment summit. The two-day event would be host to delegates from over 25 countries and business leaders from across India.
Ambani said that the investment will be done in three areas – digital life solutions, Reliance retail business and bio-energy.
“Jio is about to complete the world’s fastest 5G roll out in India before the end of this year. We have covered most parts of West Bengal. Reliance is fast increasing its retail network in the state. Our network of 1,000 retail stores will expand to 1,200 in the next two years. We are planning to set up compressed bio-gas plants in the state,” Ambani said.
He also said that the Reliance Foundation has taken up a project to renovate and restore the Kalighat temple including the centuries-old heritage structures.
“As one of the leading private sector investment and employers in West Bengal, Reliance has had an extremely pleasurable experience of doing business in the state. I have no hesitation in recommending Bengal as an ideal investment destination,” Ambani said.
West Bengal chief minister Mamata Banerjee, meanwhile, declared former cricketer and ex-president of the Board of Control for Cricket in India Sourav Ganguly, as the Brand Ambassador of Bengal. Earlier in 2012, Bollywood superstar Shah Rukh Khan was made the state’s brand ambassador.
“He (Ganguly) is a very popular figure and he can work for the young generation. I want to involve him as the Bengal brand ambassador. Don’t say no. We must be positive and constructive,” she added.
The former cricketer recently announced that he, along with a friend, would set up a steel plant at Salboni in West Midnapore. The initial investment will be ₹2,500 crore and the project is slated to create jobs for at least 6,000 people, Ganguly had said.
The state government launched five new policies at the BGBS – West Bengal logistics policy, West Bengal internet cable landing station policy, West Bengal export promotion policy, West Bengal green hydrogen policy and West Bengal new and renewable energy manufacturing policy.
The chief minister also lashed out at the BJP-led centre alleging that the latter was not clearing the GST dues and not releasing funds under the 100-days work scheme.
“There is always a rumour that West Bengal is a place for violence. These are narratives created by some political parties,” she added.
The BJP, on the other hand, has taken a dig at the TMC government alleging that the business summit was “another jamboree at public expense”
“This BGBS summit is neither about Business & is far from being Global, it’s only glossy lies which would be served to the people of Bengal! Would the Chief Minister care to inform the people of West Bengal, how much of the PROPOSED investments, amounting to 15.7 lakh CRORE Rupees; garnered in the 6 previous editions of BGBS have been implemented on ground? Kindly publish where it got implemented along with a list of those who got employment due to such investment!” Suvendu Adhikari, BJP legislator and leader of the opposition, wrote on his X handle.
The chief minister, however, said that in the last six editions of the BGBS the government received proposals of USD 190 billion. Projects worth USD 120 billion have already taken off, while the rest are in various stages of implementation.
Banerjee has been invited to deliver a speech at Oxford University and she has accepted it, pro-vice-chancellor of the institute Jonathan Michie said on Tuesday while speaking at the BGBS. Michie, however, did not elaborate.
“We have invited chief minister Mamata Banerjee to deliver her speech at Oxford University.”
