GIS-2023: Reliance invest Rs 75,000 cr, Birla Group to invest Rs 25,000 cr in UP

Ambani claimed, "The golden phase of UP has just begun." and termed the summit as "Vikas ka Mahakumbh (congregation of development)."

Published: 10th February 2023 08:39 PM  |   Last Updated: 10th February 2023 08:39 PM   |  A+A-

Mukesh Ambani

Industrialist Mukesh Ambani addresses during the inauguration of Uttar Pradesh Global Investors Summit 2023, in Lucknow, Feb. 10, 2023. (Photo | PTI)

Express News Service

LUCKNOW: The Reliance Group chairman, Mukesh Ambani, on Friday, announced an additional investment of Rs 75,000 crore in Uttar Pradesh across different sectors.

Addressing the inaugural ceremony of UP Global Investors Summit (GIS) 2023 in Lucknow on Friday,  Mukesh Ambani claimed that his latest investment would create around 1 lakh new jobs in the state. The fresh tranche of investment, he claimed, was in addition to Rs 50,000 crore that the Reliance Group had already committed to UP after 2018.

Ambani claimed, "The golden phase of UP has just begun." and termed the summit as "Vikas ka Mahakumbh (congregation of development)."

He said that India had been performing exceptionally well since 2014 under the leadership of PM Modi. "UP is the ray of hope for New India. From Noida to Gorakhpur, one could witness infrastructure development, better law and order and ease of doing business. UP is fast becoming Uttam Pradesh (ideal state)."

He also announced that his company would expand its 5G mobile services to every town and village in UP by December 2023.

Tata Group chairman N Chandrasekaran said India was witnessing a 360-degree development curve under PM Modi. He said the dream of India becoming a $5 trillion economy, $10 trillion and $25 trillion economy in due course was very much achievable.

Chandrasekaran said that the Tata Group, which has 18 companies in UP, was in an expansion mode and added that the Tata Consultancy Services (TCS) and Air India had investments in the pipeline for UP. "Air India has a plan to connect UP to all the parts of India," he said.

Meanwhile, Kumar Mangalam Birla, Chairman of the Aditya Birla Group, announced that his group will invest around Rs 25,000 crore in cement, metals, chemicals and finance sectors in the state. "UP is vital for India realising its $5-trillion economy target,” he said.

Reminding the gathering of PM Modi’s "Upyogi" moniker given to CM Yogi, Birla added that the industry was watching Uttar Pradesh's development roadmap under CM Adityanath with great interest.

Daniel Bircher, CEO of Zurich Airport of Asia, announced that the Noida International Airport in Jewar will be ready by 2024.

"CM Yogi Adityanath has emerged as the major indicator of development. Due to his cooperation, the Noida International Airport is able to take shape. Noida International Airport is the best example of a private-public partnership. This airport will provide new opportunities for the state's development and will also be crucial in the development of western UP," he said.


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