Mukesh Ambani announces Rs. 2,500 crore investment in Assam
What's the story
Reliance Industries chairman Mukesh Ambani, while speaking at the Global Investors Summit 2018 in Guwahati, announced an investment of Rs. 2,500 crore across various sectors in Assam which would create at least 80,000 jobs over the next three years.
Ambani also congratulated the Modi government for "presenting one of the best budgets in recent times".
Here's what we know about Ambani's investment plans.
Quote
Ambani applauds Assam's "limitless" development potential
"Assam's development potential is limitless. In 50s, the state was a developed one with its per capital income more than the national average," said Ambani, congratulating Chief Minister Sarbananda Sonowal for organizing the 'Advantage Assam - Global Investors Summit 2018'.
Retail, petrol
Reliance looking to bolster its presence in retail
According to Ambani, Reliance has investments planned in sectors such as retail, petroleum, telecom, tourism and sports.
In retail, Reliance is looking to increase its number of outlets from two to 40.
At the same time, the company also plans to increase the number of petrol depots in the state to 165 from the existing 27.
Telecom
Assam is a 'Category A' market for Reliance Jio
Assam has always been a low priority market for major telecom operators in India.
However, Ambani said that Assam remains a 'Category A' market for Reliance.
Reliance already enjoys a significant market presence in Assam with over 30 lakh Jio customers and the company is looking to increase that number manifold in the coming years.
Livelihoods
Reliance aims to increase sustainable livelihood opportunities in Assam
Mukesh Ambani also promised that new offices would be opened in 145 tehsil headquarters across Assam.
Ambani added that Reliance Industries, with its emphasis on "sustainable livelihood opportunities", had succeeded in generating over 20,000 jobs in Assam.
The company is now looking to increase that number to 100,000 in the next three years.
Tourism, sports
Aspiring footballers from Assam have good news coming their way
In the tourism sector, Reliance's CSR wing, Reliance Foundation, plans to partner with the government of Assam to set up a centre at a university to promote "wildlife protection and eco-tourism".
Meanwhile, citing the success of ISL in Assam, Ambani said that Reliance is looking to establish a "top class" football academy in collaboration with the Assam government to "produce global players".