Rely on Modi’s India, Ambani unveils $16.5 billion investment

GANDHINAGAR: Upping the stakes in the India growth story, India’s billionaire tycoon Mukesh Ambani unveiled plans for mammoth $16.5 billion (Rs 1,00,000 crore) investments across diverse sectors, and projected that India was on the path to become the world’s fastest growing economy.
The investments will be focused on expanding the RIL petrochemical production capacity and launching the 4G broadband services, which will provide a big boost to Prime Minister Narendra Modi’s pet projects, including Make in India and Digital India initiatives.
Speaking at the 7th Vibrant Gujarat Summit in Gujarat’s capital Gandhinagar on a sunny Sunday (January 11), the biggest investor conclave being held in India since the Modi government took charge in May 2014, Mr Ambani, the world’s richest energy billionaire and India’s richest man, underlined that “India is marching forward with a clear vision to emerge as global power even when as most of the world is struggling with low growth.”
India, fastest growing economy

“India can chart a path under our Prime Minister in the next few years to really become the fastest growing economy in the world. A goal that is possible to achieve,” he said.
“We will invest over Rs. 1,00,000 crore in the next 12-18 months in contributing to the Make In India and Digital India initiatives,” he said at the inaugural session of the biennial investors’ conclave that was attended by Mr Modi as well as world leaders and the crème de la crème of India’s corporate world.
Ambani announced that RIL will partner and enable thousands of small businesses and Gujarati entrepreneurs to spawn virtuous cycle of prosperity.
Betting big on Modi’s vision for India, Mr Ambani called for proactive partnerships across the industries to make India a powerful player in the world economy. He lauded Modi as “a world leader the India is very proud of”. Gujarat leads the country in achieving the Millennium Development Goals (MDGs) target, he stressed.
“Reliance has been an inseparable part of Gujarat’s success story. Over the last three decades we have invested again and again to convert a business vision into a reality,” he said.

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