Mukesh Ambani: RIL to double investments with new e-commerce plan: Mukesh Ambani

GANDHINAGAR: India's richest person, Mukesh Ambani, pledged on Friday to invest Rs 3 billion in various projects in Gujarat over the next 10 years, ranging from the energy and energy sectors. petrochemicals to new technologies and digital.

Ambani's Reliance Industries operates the world's largest oil refining complex in Jamnagar, Gujarat, as well as petrochemical units at several state sites.

"Gujarat is the Janmabhoomi (place of birth) and Karmabhoomi (workplace) of Reliance Gujarat has always been – and will always be – our first choice," he said at the 9th World Summit of Gujarat.

Reliance Industries also invested billions of dollars in the development of telecommunications company, Jio.

"We have so far invested nearly 3 million rupees in the state of Gujarat.We have created and catalyzed more than a million livelihood opportunities in Gujarat. Reliance on previous decades, Reliance will double that investment and the number of jobs over the next ten years, "he said.

According to Ambani, while Jio's network is now fully compatible with 5G technology, the telecom branch and the retail division will launch a new business platform to connect small retailers and merchants to customers .

Jamnagar's twin refineries will produce more value-added products such as petrochemicals and less fuel as the world turns to electric vehicles.

However, he did not specify when Jio, which started operations in 2016, will launch 5G services.

"Today, Gujarat is the showcase for Jio's 4G wireless broadband network … And Jio's network is fully ready for 5G technology, which means Gujarat will remain at the forefront. digital connectivity for years to come, "he said.

Without delay, he said that Jio and Reliance Retail, which has more than 9,000 stores across the country, will launch "a unique new trading platform to empower and enrich our 12 lakh small retailers and merchants from Gujarat – which are part of the 3 crore community in India. "

Ambani had already talked about leveraging the Jio network to launch a kind of e-commerce business.

"As the world turns to electric vehicles, Reliance will use fewer hydrocarbons than fuel to produce new high-value materials with a wide range of uses in society," he said. he said, adding that the strategy of converting oil to chemicals would significantly boost exports and create jobs.

In addition, the Reliance Foundation will invest 150 billion rand to strengthen Pandit Deendayal University in Gujarat and make it an institution of international renown, he said.