Mukesh Ambani and Gautam Adani committed to partnering with Assam in its development journey and announced an investment of ₹50,000 crore each in the state while Prime Minister Narendra Modi assured to stand by those contributing towards India’s glory.
The commitments were made on the first day of the two-day mega Advantage Assam 2.0 investment summit.
Like most of the industry bigwigs who addressed the gathering, Ambani was also bullish on Assam’s potential as an emerging “land of the growth opportunities”, attributing this transformation to Modi’s visionary leadership which brought Assam and the Northeast “from the periphery to the centre of India’s developmental map” through the latter’s “inspiring” new mantra to “Act East, Act fast, and Act first”.
“In the previous Summit in 2018, Reliance had committed an investment of ₹5,000 crore in Assam. Since then, our investment in the state has exceeded ₹12,000 crore. In the coming years, Reliance will more than quadruple this investment in Assam to over ₹50,000 crore over the next five years...,” Mukesh Ambani, chairman and MD of Reliance Industries Industries, said.
The conglomerate will be involved in the state’s digital transformation and set up an Oberoi hotel in Guwahati.
Ambani also announced a philanthropic initiative by Reliance Foundation, which together “with our ‘Swadesh’ stores, would like to collaborate with the state government to promote” its rich arts and crafts heritage, especially those dealing with bamboo and silk.” And “Sualkuchi”, the center of Assam’s famous silk Industry, has the potential to grow manifold in generation of incomes and jobs,” Ambani said.
Gautam Adani, who is talked about as much for his meteoric rise under the Modi government as for the controversies surrounding some of his business deals within and outside the country, said: “...Therefore, it is with great pride that I announce today, the Adani Group’s investment of ₹50,000 crore in Assam. Our investments will span airports, aerocities, city gas distribution, transmission, cement and road projects,” Adani said.
The group already operates the Guwahati airport.
