Jio to invest over ₹40,000 crore in Andhra Pradesh: Mukesh Ambani

• Jio’s True 5G rollout will be completed before the end of 2023 throughout India, including in Andhra Pradesh.
  
• Reliance has partnered with more than 1.2 lakh kirana merchants across 6,000 villages of AP.
  
• Reliance Retail has created over 20,000 direct jobs and a large number of indirect jobs in AP.
  

At the Global Investors Summit 2023 in Visakhapatnam on Friday, Mukesh Ambani, chairman and managing director of Reliance Industries, spoke about how Reliance has been among the first Indian corporates to believe in the stupendous economic potential of Andhra Pradesh (AP).

He said that Reliance’s oil and gas exploration team found gas in AP in 2002 and Reliance has invested over ₹1.5 lakh crore in the KG-D6 basin development and the supporting pipeline infrastructure. Today, the gas produced by Reliance at the KG-D6 basin is fuelling India’s clean energy transition and will contribute to nearly 30% of India’s gas production.

“This is just an example of how important Andhra is to the India story… And how deeply Reliance is invested in the Andhra story,” said Ambani.

Jio to invest over ₹40,000 crore in Andhra Pradesh

Ambani further said that Jio is creating the largest and best digital network footprint in the state by investing over ₹40,000 crore. Jio’s 4G network covers 98% of AP’s population, including those living in the remotest corners of the state. The rollout of Jio’s True 5G will be completed before the end of 2023 throughout India, including in AP. Jio’s True 5G will trigger a new wave of digital revolution in Andhra, benefiting every sector of the economy. It will also create large-scale business and employment opportunities for the people of AP, he said.

Reliance has pioneered the retail revolution in AP

“Reliance has partnered with more than 1.2 lakh kirana merchants across 6,000 villages of AP, equipping them with tools needed to thrive and succeed in the digital age. Through its presence, Reliance Retail has created over 20,000 direct jobs and a large number of indirect jobs in AP,” said Ambani. He added that the best is yet to come. Reliance Retail will source significantly more agri and agro-based products and manufactured goods from AP for sale all over India. Apart from increasing the incomes of farmers, artisans and others, this will directly create over 50,000 livelihood opportunities in the state. The Reliance Foundation is working in the areas of education, healthcare and rural transformation and as Reliance grows its presence in AP, so will Reliance Foundation’s efforts to support the developmental needs of rural communities in the state, he said.

Reliance to will invest in 10GW of renewable energy in AP

Ambani assured that Reliance will continue to be a partner to the people and the Government of AP in the state’s all-round and accelerated progress. It will also continue its investments and will invest in 10GW of renewable energy in the state.

SEE ALSO:

$4

$4

India's super-rich gear up for a better year ahead: Knight Frank>$4