NEW DELHI: Reliance Industries Limited has pledged to invest Rs 75,000 crore over the next five years in the Northeast, while the Adani Group has announced a Rs 50,000 crore investment over the next decade in the northeastern states.
On the first day of the Rising Northeast Investors Summit in New Delhi inaugurated by Prime Minister Narendra Modi, Reliance Chairman and Managing Director Mukesh Ambani said that Reliance Jio will connect all schools, hospitals, enterprises, and homes in the region with Artificial Intelligence (AI). He highlighted that Jio has already covered 90% of the region’s population, with over 5 million 5G subscribers, and aims to double that number by the end of this year.
“Jio has already covered 90% of the population, with over 5 million 5G subscribers. We will double this number this year. Jio’s priority will be to bring the revolutionary power of Artificial Intelligence to all schools, hospitals, enterprises, and homes,” Ambani said.
Gautam Adani, Chairman of Adani Enterprises, announced an additional Rs 50,000 crore investment over the next 10 years, adding to the Rs 50,000 crore commitment made earlier this year in Assam. He said the company will focus on green energy (including hydro power and smart meters), power transmission, road construction, logistics, digital infrastructure, and skill development.
“Three months ago, in Assam, we pledged an investment of Rs 50,000 crore. Today, once again, humbled and inspired by your leadership, I announce that the Adani Group will invest Rs 50,000 crore across the Northeast over the next 10 years,” Adani said in the presence of Prime Minister Modi.
Vedanta Group Chairman Anil Agarwal also announced an additional Rs 30,000 crore investment in the Northeast. Vedanta had earlier committed Rs 50,000 crore in Assam during the Advantage Assam 2.0 summit. The company has now committed another Rs 30,000 crore across Arunachal Pradesh, Nagaland, Tripura, Meghalaya, and Mizoram, bringing its total investment in six Northeastern states to Rs 80,000 crore.
“Today, the states of the Northeast are growing in double digits,” Agarwal remarked.
Meanwhile, minister of New and Renewable Energy Pralhad Joshi said that a total of 115 Memoranda of Understanding (MoUs) worth Rs 38,856 crore has been signed between state governments and private investors in the RE sector. Also, to promote clean energy development in the region, the Ministry of New and Renewable Energy (MNRE) has earmarked 10% of its annual scheme budget exclusively for the North Eastern Region.