Mukesh Ambani, Kumar Birla plan Rs 1 lakh crore investments in UP

Mukesh Ambani, Managing Director, Reliance Industries Limited announced investments of Rs 75,000 crore in the next four years in Uttar Pradesh to facilitate rolling out of 5G mobile services besides expansion of retail networks and setting up of renewable energy capacity. Aditya Birla Group committed an investment of Rs 25000 crore in various sectors including metals, cement, chemicals, financial services and renewable energy.

The company’s Chairman Kumar Manglam Birla said, “UP endowed with resources and population was laggard in industrial development…but that scenario is gradually and dramatically changing.”

Captains of the industry from within the country and outside and policymakers are currently in Lucknow to attend the three day UP Global Investment Summit 2023 as the Yogi Adityanath government aims to touch a $1 billion economy.

Tata Group Chairman N Chandrasekaran underlined the need to focus on promoting tourism.

The mega event was inaugurated by Prime Minister Narendra Modi.

The Prime Minister urged leading industrialists to invest in the state.

Modi also inaugurated the Global Trade Show and launched Invest UP 2.0 during the programme.

He also noted that in the last 5-6 years, UP, known as a “bimaru” state with law and order problems, has established a new identity. Good governance, better law and order situation, peace and stability are the state’s new identity. “New opportunities for wealth creators are being made here,” he said.

Also read: PM Modi throws open UP Global Investors Summit in Lucknow