Mukesh Ambani announces Rs 5000 Cr investment, to manufacture mobiles in West Bengal

Speaking at the fourth edition of Bengal Global Business Summit on Tuesday, RIL Chairman Mukesh Ambani announced Rs 5,000 crore investment in West Bengal and said that his company will start manufacturing mobile phones and set-top boxes.

The company has invested around Rs 15,000 crore in the state during the past three years. The latest announcement made by Ambani is to invest over Rs 5000 crore in non-Jio business over next 3 years, which include digital ecosystem, retail, and petro-retail businesses.

Also Read: Mukesh Ambani’s Reliance Jio acquires wireless assets of Anil Ambani’s RCOM

Jio claims to have more than 1.2 crore customers in the state. It aims to reach 100 percent of the state’s population and also ensures 100% 4G coverage in West Bengal by December 2018, reports ET.

"I would like to make a few commitments as Bengal's #GrowthPartner: Jio will reach 100% of Bengal's population by 2020, we are also committed to invest and develop West Bengal as the next #ElectronicHub of #India #manufacturing state-of-the-art technology products" #BGBS2018 pic.twitter.com/UguR4P3IfW

— Bengal Global Summit (@BengalSummit) January 16, 2018

Besides, the firm is also taking steps to make the JioPhone "available on prioritised basis" for the people of West Bengal.

The West Bengal government’s mega event, which begins today is a two-day affair.

Apart from Reliance Industries’ chairman, Steel maker ArcelorMittal chairman and CEO Lakshmi Mittal, JSW Group’s Chief Sajjan Jindal, FMCG major ITC’s CEO Sanjiv Puri, RP Sanjiv Goenka Group’s chairman Sanjiv Goenka among others are also expected to attend this year’s summit.

Also Read: RIL chairman Mukesh Ambani may launch Reliance Jio IPO by late 2018

West Bengal currently tops the list of the Department of Industrial Policy and Promotion’s Business Reforms Action Plan (BRAP) 2017, comprising all states and Union Territories.

In the third edition of the event in 2017, the Trinamool Congress-led by Mamata Banerjee had garnered investment commitment worth Rs 2.35 lakh crore.

The state, which is a home to small and medium scale enterprises and one of the first to adopt 4G service in the country will leverage the investment from the industry stalwarts.