LUCKNOW: India’s top business houses – the Tata Group, Aditya Birla Group, and Reliance Industries – committed to invest more than Rs 1 lakh crore in Uttar Pradesh in the near future, at the UPGIS-2023.
Over the next four years, Reliance Industries Chairman Mukesh Ambani will invest Rs 75,000 crore in rolling out 5G mobile telephony services, expanding retail networks, and establishing renewable energy capacity.
Aditya Birla Group Chairman Kumar Mangalam Birla stated that his Group has committed Rs 25,000 crore in investment in the state across its various businesses including cement, metals, chemicals, financial services, and renewable energy.
Tata Sons Chairman N Chandrasekaran announced that Air India SATS, a subsidiary of Tata Sons, will establish an integrated multimodal cargo hub at the upcoming Jewar airport in collaboration with Zurich Airport.
Reliance bio-energy
In his speech at the event, Ambani also announced the oil-to-telecom conglomerate’s entry into the bioenergy business, which will convert agricultural waste into gas that can be used as fuel in industries, to power automobiles, or to light kitchen stoves.
In the next 10 months, his group will install 10 GW of renewable energy capacity and roll out 5G services across the state. “Over the next four years, we plan to invest an additional Rs 75,000 crore in UP across Jio, retail, and renewable businesses,” he said.
“These new investments will create over 1 lakh new jobs in the state,” Ambani said, adding that the money will be added to the Rs 50,000 crore already invested in the state.
Reliance Jio, the country’s largest telecom company in terms of subscriber base, plans to finish rolling out 5G to every town and village in the state by December 2023. This will help modernise all areas of business and industry, agriculture, social sector, and governance.
Innovative initiatives
The Reliance Group also plans to conduct pilots on its two new innovative initiatives- Jio School and Jio AI Doctor- to bring topclass education and healthcare to villages and small towns across Uttar Pradesh at the most affordable cost.
“As an early investor in the state’s industrial journey, we feel enthused by the rapid progress that the state is making,” Birla said in his address. Today, the state is rightfully regarded as one of the key states driving India’s journey to a $5-trillion economy, he said.
“As a result, we are committing an additional Rs 25,000 crore in investments across our businesses, cement, metals, chemicals, financial services, and renewable energy,” added Birla.
He also stated that the Group’s seven businesses have a strong presence in Uttar Pradesh, with over 30,000 employees and a total investment of Rs 40,000 crore.
Changing face of UP
“Investors are already taking notice of Uttar Pradesh’s changing face, as the state has attracted FDI worth $1.1 billion over the last three years ending September 2022,” Birla noted. He added that the state was previously a laggard in industrial development despite having a large consumption base.
“That picture is gradually and dramatically shifting. This is due to a pragmatic and business-friendly administration, as well as the rapid pace of infrastructure development,” he said.
Tata Sons
Air India SATS to establish an integrated multi-modal cargo hub at the upcoming Jewar airport in collaboration with Zurich Airport
Reliance Industries
To invest Rs 75,000 crore in rolling out 5G services, expanding retail networks, and establishing renewable energy capacity
Aditya Birla Group
Commits Rs 25,000 crore across its various businesses, including cement, metals, chemicals, financial services, and renewable energy
