Reliance Industries Limited (RIL) managing director Mukesh Ambani stated on Friday at the UP Global Investors’ Summit 2023 that India is changing in terms of the rural-urban divide, and that Uttar Pradesh is a “shining example” of this. Ambani praised Prime Minister Narendra Modi, saying, “Thanks to your (prime minister’s) far-sightedness, regional imbalances are fast disappearing.” He also stated that RIL will invest 75,000 crore in the next four years in rolling out 5G mobile telephony services, expanding retail networks, and establishing renewable energy capacity in Uttar Pradesh.

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Regarding the investment in Uttar Pradesh, Tata Group Chairman N Chandrasekaran said, “UP is “absolutely well placed” to become a “trillion-dollar economy when India will be USD 5 trillion and again become a USD 2 trillion economy by the time India reaches USD 10 trillion.”

Chandrasekaran also emphasised the importance of tourism in the state, saying that with an increase in religious and wildlife tourism, Tata Group’s hotels “see tremendous opportunities” in the state. He also announced that Air India SATS, in collaboration with Zurich Airport, will establish an integrated multimodal cargo hub at the upcoming Jewar airport in Uttar Pradesh.”I congratulate Mr Prime Minister, Mr Chief Minister for the world class infrastructure that they have developed for the state of UP,” said the Zurich Airport CEO Daniel Bircher.

In his inaugural address in the summit, Aditya Birla Group chairman Kumar Manglam Birla stated, “UP endowed with resources and population was laggard in industrial development…but that scenario is gradually and dramatically changing.” The group has committed to invest 25,000 crore across its various businesses in Uttar Pradesh. Birla stated that the funds would be invested in a variety of industries, including cement, metals, chemicals, financial services, and renewable energy.

The defence minister Rajanth Singh also attended the inaugural event where he said, “Because of this pseudo-secularism, the established industries were also hampered. However, the encouragement and achievements in the sector during the previous years show how the government has presented a new approach towards the business committee.”

UP Global Investors Summit 2023 is the flagship investment summit of the Government of Uttar Pradesh. The mega event is aimed to bring together policymakers, industry leaders, academia, think tanks and leaders from across the world to collectively explore business opportunities and forge partnerships. The summit was inaugurated by prime minister Narendra Modi and was attended by UP Governor Anandiben Patel, chief minister Yogi Adityanath, and several industrialists. During the course of the summit, a total of 34 sessions are slated to be held. Of these, 10 sessions will be on the first day, 13 on the second and 11 on the last day.

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