Reliance to invest Rs 25 bn in Assam, create 80,000 jobs over next 3 years

Reliance Industries chairman Mukesh Ambani on Saturday announced an investment of Rs 25 billion in Assam in various sectors, including retail, petroleum, telecom, tourism and sports, creating jobs for at least 80,000 people over the next three years.

"Today I am happy to announce five commitments for Assam over the next three years. Reliance will invest an additional Rs 25 billion to augment its presence in this market," he said at the inaugural function of the Global Investors Summit 2018 here.

Under this programme, the company will enhance its retail division's outlet to 40 from existing two, while the number of petrol depots will be increased to 165 from the existing 27, he added.

"We are also going to open new offices in all 145 tehsil headquarters across Assam. Our approach has always been to create sustainable livelihood opportunities and have generated 20,000 jobs in Assam," Ambani said.

Assam has always been a low priority market for other telecom operators, but it is a 'Category A' market for Reliance, he added.

"We now target to increase the sustainable livelihood opportunities by five-fold to 100,000 jobs," Ambani said.

In the tourism sector, the company's CSR wing Reliance Foundation will partner with Assam government to set up a centre at an university to promote "wildlife protection and eco-tourism", he added.

"In football, ISL is a huge success in Assam. We have decided to establish a top class football academy in partnership with Government of Assam to produce global players from the state," Ambani said.

Reliance Industries has become the largest private sector investor in Assam by putting in Rs 50 billion over the last few years, he said.

The company's telecom arm 'Jio' has over 3,000,000 users at present and aims to increase it manifold in the coming months, he added.

Complimenting Assam Chief Minister Sarbananda Sonowal for organising the 'Advantage Assam - Global Investors Summit 2018', Ambani said: "Assam's development potential is limitless. In 50's, the state was a developed one with its per capital income more than the national average."

The Global Investors Summit is happening at an appropriate time with the country also "rising under the leadership of a very popular Prime Minister Narendra Modi", whose thrust on 'ease of living' is touching many other countries, he added.

Ambani also praised Prime Minister Narendra Modi for his government "presenting one of the best budgets in recent times" by focusing on all segments of the society, including the farmers.