Jio to invest over ₹40,000 crores in Andhra Pradesh
Mukesh Ambani, chairman and managing director of Reliance Industries at the Global Investors Summit 2023 in Visakhapatnam on Friday, spoke about how Reliance has been among the first Indian corporates to believe in the stupendous economic potential of Andhra Pradesh (AP).
He said that Reliance’s oil and gas exploration team found gas in AP in 2002 and Reliance has invested over ₹1.5 lakh crore in the KG-D6 basin development and the supporting pipeline infrastructure. Today, the gas produced by Reliance at the KG-D6 basin is fuelling India’s clean energy transition and will contribute to nearly 30% of India’s gas production.
“This is just an example of how important Andhra is to the India story… And how deeply Reliance is invested in the Andhra story,” said Ambani.
“Reliance ( jio) has partnered with more than 1.2 lakh kirana merchants across 6,000 villages of AP, equipping them with tools needed to thrive and succeed in the digital age. Through its presence, Reliance Retail has created over 20,000 direct jobs and a large number of indirect jobs in AP,” said Ambani. He added that the best is yet to come. Reliance Retail will source significantly more agri and agro-based products and manufactured goods from AP for sale all over India. Apart from increasing the incomes of farmers, artisans and others, this will directly create over 50,000 livelihood opportunities in the state. The Reliance Foundation is working in the areas of education, healthcare and rural transformation and as Reliance grows its presence in AP, so will Reliance Foundation’s efforts to support the developmental needs of rural communities in the state, he said
