The billionaire Mukesh Ambani announced on Friday that he will spend Rs 75,000 crore over the next four years expanding the telecom network, including the implementation of 5G services, retail, and the new energy industry in Uttar Pradesh. In a speech at the UP Investor Summit, he said that by the end of 2023, his company’s Jio telecom business will have deployed 5G services over the whole state.

A bioenergy firm will also be established in the state by the oil-to-telecom giant, along with the installation of 10 GW of renewable energy, he added.

“Thanks to this year’s Union budget, India is now on pace to attain the status of a developed country. It distinguishes out for investing the biggest amount of resources ever to lay the groundwork for the nation’s growth in terms of capital expenditures, ” Mukesh Ambani remarked.

The speaker said that India’s economy is growing rapidly.

Ambani claims that Reliance plans to invest an extra Rs 75,000 crore over the next four years in the renewable energy, retail, and Jio sectors in UP, which would result in the creation of over 1 lakh new employment.

The Uttar Pradesh Global Investors Summit 2023 was formally launched by Prime Minister Narendra Modi on Friday in Lucknow.

The Uttar Pradesh Global Investors Summit will take place from February 10–12, 2023.

It is regarded as the primary investment event for the state government of Uttar Pradesh.

The summit will bring together corporate leaders from all around the world to talk about business opportunities and develop partnerships with decision-makers from the fields of education, business, government, and think tanks.

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