Mukesh Ambani announces ₹7L crore investment in Gujarat
What's the story
Mukesh Ambani, the chairman of Reliance Industries Ltd (RIL), has announced a massive ₹7 lakh crore investment over the next five years. The announcement was made at the Vibrant Gujarat Regional Conference for the Kutch and Saurashtra region on Sunday. The investment is double that of Reliance's previous commitment of ₹3.5 lakh crore made since 2021. Prime Minister Narendra Modi inaugurated the summit with Gujarat Chief Minister Bhupendra Patel and Deputy CM Harsh Sanghavi among others.
Strategic goals
Reliance's commitment to AI and clean energy
Ambani also announced that RIL is building India's largest artificial intelligence (AI)-ready data center in Jamnagar. The facility aims to provide affordable AI for every Indian. "Jio will launch a people-first intelligence platform built in India for India and the world," Ambani said, adding it would enable citizens to access AI services in their own language on their own devices every day.
Green ambitions
Jamnagar to become India's green energy hub
Ambani also revealed plans for Jamnagar to become India's largest exporter of green energy and materials. He wants Kutch to be a global clean energy hub. The Reliance Foundation, under his social initiative, is ready to support PM Modi's vision of bringing the 2036 Olympics to Ahmedabad by maintaining the Veer Savarkar Multisports Complex and training athletes for the event.
Global outlook
Ambani addresses global uncertainties and India's future
Ambani also spoke about the fast-changing world and new challenges arising from geopolitical situations. He said, "What is reassuring for India is that these challenges cannot touch or trouble our people." He added that under PM Modi's leadership, "India is not just preparing for the future, India is shaping it."
Business agreements
Over 1,500 MoUs expected to be signed
At the Gujarat Regional Conference for Kutch and Saurashtra region, over 1,500 Memorandums of Understanding (MoUs) are likely to be signed. More than 110 international buyers from 16 countries including the US and several European nations are participating in this event. Over 1,800 business meetings have been scheduled during the Reverse Buyer Seller Meet (RBSM) at VGRC.