Reliance to invest Rs 3.05 trillion in Maharashtra, creating 300k jobs
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Reliance Industries Limited (RIL) has signed a Memorandum of Understanding (MoU) with Maharashtra government to invest Rs 3.05 trillion in the state across key sectors such as new energy, retail, hospitality, and high-tech manufacturing. This investment is expected to generate three lakh jobs in the state.
The MoU was signed at the World Economic Forum in Davos. Speaking about the partnership, Anant Ambani, director of Reliance Industries, said, “RIL has always been deeply committed to the idea of New India, under the visionary leadership of our honourable Prime Minister Narendra Modi. As the largest business group in India, we are spread across the country, furthering our commitment to build a great nation. In this regard, our Rs 3. 0.5 trillion MoU spread across new energy, retail, hospitality, green power, high-tech manufacturing is the step in that direction.”
He praised Chief Minister Devendra Fadnavis, describing him as a visionary leader with a goal to make Maharashtra a $1 trillion economy and a gateway to India’s $5 trillion vision. Chief Minister Fadnavis, on his part, called the MoU a “groundbreaking moment” and highlighted Maharashtra’s growing appeal among global investors.
Significant investments in Maharashtra
At the World Economic Forum, the Maharashtra government also signed over 50 MoUs with prominent companies, including the Tata Group, Ceat, Essar Renewables, and Bharat Forge.
The Tata Group aims to invest up to Rs 30,000 crore in the state, while Essar Renewables has signed an MoU for Rs 8,000 crore. UPL Limited has announced a total investment plan of Rs 6,500 crore, and Powerin Urjaa has committed up to Rs 15,300 crore for renewable energy projects. Additionally, Olectra Greentech plans to explore investments of up to Rs 3,000 crore in EV-related initiatives.
Fadnavis highlighted Maharashtra’s strengths, calling it the “powerhouse of the Indian economy” and the “data centre capital of India”, with 60 per cent of the nation’s capacity located in the state.
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