Mukesh Ambani announces 20K Crore investment in Bengal over next 3 years
Mukesh Ambani, the chairman and managing director of Reliance Industries, announced that his company will invest an additional 20,000 crore in West Bengal over the next three years. According to Ambani, West Bengal has been one of the largest investment destinations for Reliance, with the company having already invested close to 45,000 crore in the state. Speaking at the 7th Bengal Global Business Summit (BGBS), Ambani stated that the proposed investment is aimed at further strengthening Reliance's presence in West Bengal.
The BGBS is the state's most important investment summit, attracting delegates from over 25 countries and business leaders from across India. During the two-day event, Ambani announced that Reliance will invest in three areas: digital life solutions, Reliance retail business, and bio-energy. “Jio is about to complete the world’s fastest 5G rollout in India before the end of this year. We have covered most parts of West Bengal. Reliance is fast increasing its retail network in the state. Our network of 1,000 retail stores will expand to 1,200 in the next two years. We are planning to set up compressed bio-gas plants in the state", Ambani said.
He also said that the Reliance Foundation has taken up a project to renovate and restore the Kalighat temple including the centuries-old heritage structures. “As one of the leading private sector investment and employers in West Bengal, Reliance has had an extremely pleasurable experience of doing business in the state. I have no hesitation in recommending Bengal as an ideal investment destination", Ambani said.
During the Bengal Global Business Summit, the state government introduced five new policies. These policies include the West Bengal Logistics Policy, the West Bengal Internet Cable Landing Station Policy, the West Bengal Export Promotion Policy, the West Bengal Green Hydrogen Policy, and the West Bengal New and Renewable Energy Manufacturing Policy.
The Chief Minister has criticized the BJP-led central government, stating that they have failed to clear the GST dues and release funds under the 100-day work scheme. During the last six editions of the Bengal Global Business Summit (BGBS), the government received proposals worth USD 190 billion. Projects worth USD 120 billion have already been launched, while the remaining are still in different stages of implementation.
