by admin | May 25, 2021 | Business, Corporate, Corporate Buzz, Emerging Businesses, Investing
Mukesh Ambani
Lucknow : Reliance Jio will invest another Rs 10,000 crore in Uttar Pradesh over the next three years, Reliance Industries Limited Chairman Mukesh Ambani said here on Wednesday.
“Today I am happy to inform this audience that Jio is one of the largest investors in Uttar Pradesh with investments of over Rs 20,000 crore. Jio is providing the highest quality data at the lowest price in the world to over 2 crore citizens of Uttar Pradesh,” Ambani said while addressing the Uttar Pradesh Investors’ Summit 2018.
“I have come to Lucknow to assure the Prime Minister and the Chief Minister that Jio’s Digital Revolution is here to make the maximum contribution to UP’s development revolution,” he added.
While talking about affordable handsets, JioPhone, Ambani said: “Jio will make available over two crore JioPhones in UP within the next two months on a priority basis.”
He mentioned that Jio has already created over 40,000 direct and indirect jobs in the state.
“Jio will establish a Centre for the Fourth Industrial Revolution within the campus of a reputed university in Uttar Pradesh,” Ambani added.
—IANS
by admin | May 25, 2021 | Business, Business Summit, Emerging Businesses, Events, Investing
Mukesh Ambani
Guwahati : The first day of Global Investment Summit, being held here, witnessed signing of a total of 176 MoUs with 160 companies, amounting to Rs 64,386 crore.
While Mukesh Ambani of Reliance Industries Ltd said that his company will invest Rs 2,500 crore in next three years time in retail, petroleum, telecom, tourism and sport sectors, companies like McLeod Russell, Century Plyboards Ltd, and Spicejet also assured to invest considerable amounts to boost the economy of the region.
Ambani, in his address at the meet, also said that Reliance Industries also set up a world class football academy and a centre for conservation of wildlife and eco tourism in Assam.
Spicejet CEO Ajay Singh said that the company is contemplating to use Guwahati as gateway to Thailand, Myanmar and other ASEAN countries.
“We are also contemplating to launch sea planes to connect different remote locations in India’s northeastern region, which has tremendous potential. The mighty Brahmaputra river can be the largest runway for the sea planes,” he said adding that Spicejet has also been working on to market the fruits and vegetables produced in the region to other parts of the country by establishing a modern supply chain.
Japanese Ambassador to India Kenji Hiramatsu said his country was keen to continue to foster bilateral ties and was committed to identify further areas of cooperation to contribute to the development of the state.
Other top industrialists who took part in the summit included Tata Sons Chairman N. Chandrasekharan, Mcleod Russell India Ltd MD Aditya Khaitan, Century Plyboards Ltd MD Sajjan Bhajanka, Patanjali CEO Acharya Balakrishnan, Sun Pharmaceutical Industries Ltd MD Dilip Sanghvi, Ficci President Rashesh Shah, among others.
—IANS
by admin | May 25, 2021 | Business, Business Summit, Events, Large Enterprise
Mukesh Ambani
Kolkata : Reliance Industries Chairman Mukesh Ambani on Tuesday said the Jio network will cover 100 per cent of West Bengal’s population by December 2018 and also committed over Rs 5,000 crore of investments in the state for non-Jio businesses in the next three years.
Addressing the Bengal Global Business Summit here, Ambani said the company will set up an electronics manufacturing facility in the state.
“Our current Jio network covers 1,000 towns and nearly 39,000 villages in the state. Jio will reach 100 per cent of West Bengal’s population by December 2018. Every last village will be covered by 4G technology. We are embarking on an ambitious project of connecting Bengal with optical fibre,” he said.
According to him, Jio will connect every education institution and hospital in the state by December 2019.
The group will launch the digital service centre in five districts of the state, with the immediate effect of facilitating digital entrepreneurs.
He promised to set up an electronics manufacturing facility in the state.
Ambani said the group has prioritised the availability of 4G Jio phone in the state with effective zero cost.
“We are committing to invest Rs 5,000 crore in non-Jio businesses in Bengal in the next three years,” he said.
Applauding the West Bengal government’s economic activities and Chief Minister Mamata Banerjee, Ambani said: “Didi, under your leadership, Bengal is becoming the best Bengal.”
Ambani said he attended the second edition of the business summit in 2015. “Reliance had committed an investment of Rs 4,500 crore in Bengal…We have invested and committed not just Rs 4,500 crore but we have completed an investment of over Rs 15,000 crore in the last two years.”
He said the company was able to make the investments as the state created a “friendly” climate and enabling policy and infrastructure.
He said the company would focus on digital space.
Jio will set up a Chair in the name of Physicist Satyendra Nath Bose in a prestigious institution in West Bengal, he said.
—IANS
by admin | May 25, 2021 | News
New Delhi : With a net worth of $38 billion, Reliance Industries Ltd (RIL) chairman Mukesh Ambani has topped Forbes’ annual list of India’s 100 richest tycoons of 2017, a statement said here on Thursday.
“Reliance Industries Ltd chairman Mukesh Ambani has topped Forbes’s annual list of India’s 100 richest tycoons, with a net worth of $38 billion. To put it in context, this is equal to the entire GDP of the former Soviet republic of Azerbaijan, as per World Bank Data 2016 estimates,” the statement said.
Forbes India will release the 2017 India Rich List by way of a special issue that hits the stands on November 6, 2017.
The richest newcomer in the list is Wadia Group of companies Chairman Nusli Wadia (No. 25, $5.6 billion).
At $19 billion, the net worth of Wipro’s Azim Premji — who jumped two places up over last year to become the second richest Indian on the list — is almost equal to Afghanistan’s GDP of $19.4 billion, the statement said.
The Hinduja family maintained the third position ($18.4 billion) in the list.
Last year’s second richest Indian, Dilip Shanghvi of Sun Pharmaceuticals (No. 9, $12.1 billion) is the biggest dollar loser on the list as his net worth fell by $4.8 billion.
“The Indian economy is still grappling with the impact of demonetisation and GST. This makes The Forbes India Rich List 2017 edition special since it features those who have faced the challenges head on and continued to deliver phenomenal results. The list has come to stand as a testament to brand India and also puts many emerging successful entrepreneurs on the global map,” said Forbes India CEO Joy Chakraborthy.
According to the list, the total wealth of India’s top 100 billionaires, which stands at a whopping $479 billion, is more than the country’s foreign exchange reserves estimated at $402.5 billion in September 2017.
The entry point to the list is at its highest ever, at $1.46 billion. Last year, the minimum amount required to make the list was $1.25 billion, 17 percent lower than this year.
The aggregate wealth of the top 100 has risen 26 percent over last year.
—IANS
by admin | May 25, 2021 | Corporate, Corporate Buzz
Mumbai : (IANS) Calling Jio the world’s largest start-up, Reliance Industries chairman Mukesh on Wednesday said the roll-out of its 4G services will lift India from a mobile Internet ranking of 150th to the top 10 slot. But he did not specify the actual date of commercial launch.
“As the world goes digital, India and Indians cannot afford to be left behind. Today, India is ranked around 150th in mobile Internet rankings out of 230 countries. We have a responsibility. To digitally empower India. To end this digital poverty,” Ambani said.
“It is this opportunity to transform the lives of our 1.3 billion Indians that motivated Reliance to enter and transform the entire digital ecosystem. I have no doubt that with the launch of Jio, India’s rank will go up from 150 to among the top 10 of mobile Internet rankings in the world.”
Speaking at the Ficci-Frames media and entertainment conclave here, Ambani said Relaince Jio has four strategies: Expand country’s coverage from 15-20 percent now to 70 percent, give broadband speed that is 40-80 times faster, increase data availability and make the services affordable.
“With these four interventions, India will leapfrog to being amongst the top ten of the Digital revolution sweeping across the world.”
Ambani, who is betting big on the latest venture of the refining-to-retail group with an initial investment of over Rs.150,000 crore, said Jio will not be a mere telecom network but bring to its customers an entire ecosystem to allow a “Digital Life” to the fullest.
This ecosystem will comprise devices, broadband network, powerful applications and offerings such as live music, sports, live and catchup TV, movies and events, he said. “Jio is not just about technical brute force. It is about doing things in a smart, simple and secure way.”
Ambani said five mega-trends were emerging in the digital world: Shift in communications from the oral to visual, transition from linear to exponential, true convergence of telecom, entertainment and media, abundance of choice in every sphere and demonstrated potential transform human lives.
“The true power of technology is its ability to make human life better. The future belongs to a creative empathisers, pattern recognisers, meaning makers. Because technology changes, but humanity evolves. And any transformation is eventually about humanity,” he said.
“If you are not digital, and if you don’t have globally competitive digital tools and skills, you will simply not survive. You’ll get disrupted. You will be out-competed. You will be left behind. You will become irrelevant.”
