Andhra Pradesh is on the path to becoming India’s next investment destination, and the two-day Global Investors Summit 2023 is the game-changer. With a focus on showcasing the advantages of investing in 14 key sectors, including IT, agriculture, healthcare, renewable energy, and more, the summit is a prime opportunity for investors to tap into Andhra Pradesh’s potential and shape the future of the state’s economy.
The event saw participation from industry leaders and investors, with over 200 stalls showcasing the advantages of investing in the state. Among the attendees was Mukesh Ambani, Chairman of Reliance Industries (RIL), who arrived in Visakhapatnam in a special convoy for the summit. The Andhra Pradesh Chief Minister extended a cordial invitation to him to participate in the event, which was warmly received.
During his address at the Global Investors Summit, Mukesh Ambani announced that Reliance Industries plans to set up a 10 GW solar energy project in Andhra Pradesh. He also announced that the rollout of Jio’s True 5G would be completed across the country before the end of the year, providing the most significant and best digital network footprint in Andhra Pradesh through Jio with investments of over Rs 40,000 crore.
Ambani also highlighted Reliance’s investments in the state, including the company’s contribution to the clean energy transition through the Krishna Godavari Dhirubhai 6 (KG-D6) basin development, which has received over Rs 1.5 trillion in investment. Additionally, he noted that Reliance Retail had catalysed a retail revolution in Andhra Pradesh by partnering with more than 120,000 kirana merchants across 6,000 villages in the state, creating over 20,000 direct jobs and many more indirect jobs.
To sum up, Mukesh Ambani’s presence and announcement of investment plans and the solar power energy project of Reliance Industries were the highlights of the Andhra Pradesh Global Investors Summit. His announcement of a 10 GW solar energy project in the state and the completion of Jio’s True 5G rollout nationwide by year-end showcases the company’s commitment to Andhra Pradesh’s development. With its investments in clean energy and retail, Reliance Industries is set to further contribute to the growth and prosperity of the state.
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