Regional imbalances are fast disappearing, Mukesh Ambani said.
Lucknow:
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said that regional imbalances in India are fast disappearing while the gap between urban and rural India is also disappearing.
Mukesh Ambani said at the inauguration ceremony, “Because of your (prime minister’s) foresight, regional imbalances are fast disappearing. Uttar Pradesh is a shining example of this. The gap between urban India and rural India is also disappearing.” The ongoing three-day UP Global Investors Summit 2023 in Lucknow, where Prime Minister Narendra Modi is the chief guest.
It is the flagship investment summit of the Government of Uttar Pradesh. The mega event aims to bring together policy makers, industry leaders, academia, think tanks and leaders from across the world to collectively explore business opportunities and build partnerships.
Citing four key reasons for his conviction, Mukesh Ambani said, “I believe India is on a very strong growth trajectory.”
They are technology adoption, biggest youth population, disappearing regional imbalances and unprecedented hope among the people.
“Indians are embracing the technology at a rate unseen even in the developed world,” he said, referring to the rollout of high-speed 5G services in India.
Talking about the youth of India, he said that they are full of entrepreneurial energy and passion, and their innovations and ideas will take the world by storm.
“No one in the world can question the fundamentals of the Indian economy. They are strong. And now the time has come for all our enterprises to scale up,” he said.
He also referred to the recently presented Union Budget.
“This year’s budget has indeed led the foundation of India’s emergence as a developed nation. It stands out for its highest ever resource allocation in terms of capital expenditure to lay the foundation for the country’s development. It not only Not only is it bound to boost economic growth, but also achieve greater social welfare,” he said.
The budget document proposes raising capital expenditure spending by 33 per cent to Rs 10 lakh crore, with a focus on boosting infrastructure assets including roads, railways, airports and logistics. The budgeted expenditure will be 3.3 per cent of the GDP.
Mukesh Ambani announced that Reliance plans to invest an additional Rs 75,000 crore in Jio, retail and renewable businesses in UP over the next four years, creating over 1 lakh jobs in the state.
Furthermore, Jio will complete its roll-out of 5G to cover every town and village in Uttar Pradesh by December 2023.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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