Ambani to invest Rs 10k cr in West Bengal in telecom

Ambani, who heads India’s biggest private sector company Reliance Industries, said his firm’s investment in West Bengal has grown from Rs 4,500 cr in 2016 to Rs 28,000 cr. “This accounts for about one-tenth of our total investments in India so far,” he said adding the firm’s telecom arm, Jio has become the largest investor in the digital space in the state.

“Now, we have firmed up our plan for a further investment of over Rs 10,000 crs,” he told the Bengal Global Business Summit here. Fresh investments would be in extending Jio’s high-speed 4G network coverage to all entire state within 2019, connecting homes with fibre to carry high-speed internet and HD quality broadcasting and in logistics hub.

“West Bengal is poised to become the logistics hub of the east, with plans to attract investments of Rs 5,000 cr by 2020,” he said.

“We at Reliance operate nearly 3 million square feet of warehouses in Bengal and with our new commerce initiative, this will increase manifold in the next 24 months.” Jio and Reliance Retail will shortly launch a unique new commerce platform, which will bring win-win benefits to consumers, retailers, and producers, he said without elaborating. “Across the country, this platform will enrich and empower as many as 3 cr small shopkeepers,” he said.

ITC Ltd would invest Rs 1,700 cr in W Bengal for setting up an FMCG plant and upgrading existing facilities. Sanjiv Puri, the MD and CEO of the ITC, said it had invested Rs 4,000 cr in WB in a short span for setting up a unit for manufacturing personal care products.