Reliance to invest Rs 75,000 crore in UP in 4 years

Ambani mentioned Reliance's plans to increase sourcing of a wide range of agriculture and non-agro products from the state

Billionaire Mukesh Ambani announced Rs 75,000 crore investment over the next four years in expanding the telecom network, including roll out of 5G services, retail and new energy business in Uttar Pradesh.

Speaking at the UP Investor Summit on February 10, he said his group's telecom arm Jio will roll out 5G services across the state by December 2023.

"Jio Platforms will help modernise all areas of business and industry, agriculture, social sector, and governance," he explained. "As we speak, this year 2023, India is rolling out the fastest 5G network through the length and breadth of our country."

Ambani spoke also about Reliance Retail's plans to revolutionise 'hundreds of thousands of kiraanas' and small stores across UP and enable them to grow and earn more.

The businessman mentioned Reliance's plans to increase sourcing of a wide range of agriculture and non-agro products from the state, along with setting up 10 GW of renewable capacity and starting a bio-energy business in UP.

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The company's philanthropic arm, Reliance Foundation, will also continue to engage with partners and government in its mission to transform lives and livelihoods in the state, he stated.

"In a nutshell, Reliance will continue to work for UP, jee jaan se," he added.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

(With agency inputs)