Lauding Chief Minister Mamata Banerjee for being a “tireless leader and one of the most-ablest administrators in the country”, Reliance Industries chairman Mukesh Ambani on Wednesday said that West Bengal was experiencing a “renaissance in economy and business” and added that it was the best time to invest in the state. He also promised to double the investment in the state to Rs 1 lakh crore by the end of the decade.
Reliance Industries has interests in petrochemicals, oil and gas, telecom, retail, media and financial services.
Addressing the inaugural session of the eighth edition of the Bengal Global Business Summit (BGBS) in Kolkata, Ambani said: “I come from the western part of India. It is generally believed that the western states are leaders in economy and business. But this situation is changing rapidly. Bengal has always been a land of renaissance. Now, Bengal is witnessing a renaissance in economy and business… Today, Bengal means soaring vision. Today, Bengal means mighty ambition. Today, Bengal means efficient implementation.”
“In today’s fast-changing world, India has become a beacon of growth and hope. Within this fast-changing India, Bengal has become a source of growth and hope. Therefore, it is the best time for investing in Bengal as we are marching towards leadership based on technology and the power of our youth,” he added.
Praising Mamata Banerjee’s leadership, Ambani said, “What the chief minister promises, her team delivers.”
Addressing the CM, the billionaire industrialist, said: “Each time I come here – and I have come here for every Summit from 2016 – I think it cannot be better. But you have proved me wrong every single time. This summit is consistently becoming bigger and more prestigious. And today we have 20 global partner countries with us.”
“She (Mamata Banerjee) has been in office for nearly 14 years means that Bengal has immensely benefited from policy continuity and her leadership. Her name, ‘Mamata’, stands for empathy or compassion. But Didi in your name stands for a tireless leader. You are empathy and energy personified.”
“Empathy for the common people is the guiding principle of all your policies and welfare schemes. This is most strikingly seen in your initiatives for the education of the girl child, women’s empowerment and poverty alleviation. All of India needs this kind of inclusive and sustainable model of development, so that no Indian is left behind and no region in India is left behind. Thank you for your leadership, Mamata Didi,” he added.
Urging other industrialists to invest in the state, Ambani said: “Our investment in Bengal is not only financial. More importantly, it is an emotional investment. Most of it is because of our respect for Didi. As one of the leading private sector employers in Bengal, today I have both a recommendation and an appeal to make to potential investors – to those who are present here today and those who are not. Reliance has had a wonderful experience of doing business in this state. Mamata Didi is one of the most ablest administrators in India. With Didi at the helm, the business community receives a red carpet treatment in Bengal. Bountiful Bengal beckons you. So, friends, come to Bengal, and script new and beautiful chapters in Bengal’s growth story.”
Claiming that Reliance Jio’s 5G network covers the entire West Bengal, Ambani, who is among the top 10 richest industrialists in the world, said: “CM (Mamata Banerjee) proved lucky for us. By the end of 2023, Jio covered 100 per cent of Bengal’s population. Bengal continues to maintain record of being the highest user across India. Jio has transformed rural Bengal.”
Promising to double the investment in West Bengal by 2030, Ambani said that a new AI-ready data centre in Kolkata will be operational in nine months and a new cable landing station in Digha will boost the state’s digital leadership. “Bengal’s strategic location and fast-improving physical infrastructure gives the state an enviable edge. But the biggest asset of Bengal is its people — over 100 million hard-working, extremely talented and highly cultured people. In the emerging era of Knowledge Economy, your state has a special advantage because Bengal has always been a land of super-intelligent people. When natural intelligence is enhanced by the capabilities of Artificial Intelligence, there is no way that Bengal can fail. And no power on earth can stop Bengal’s resurgence,” he said.
“In 2016, when I first attended this summit, Reliance’s investments stood below Rs 2,000 crore. Today, in less than a decade, our investments in Bengal have increased 20 times, and we have invested over Rs 50,000 crore. We shall double this investment by the end of this decade. More importantly, our investments have created over one lakh direct jobs and spurred significant economic growth in West Bengal,” Ambani claimed. He also announced that Reliance will expand its retail network in the state to 1,700 stores with 2.2 million square feet of warehousing.
He also said that Reliance is looking forward to investing in solar energy projects in the state: “Our motto is: “Solar Bangla for Sonar Bangla”, he added.