Gandhinagar

Reliance Industries Chairman Mukesh Ambani today announced Rs 100,000 crore investment across businesses in the next 12-18 months and said India was on the path to become the world’s fastest growing economy.

The investments will be in expanding petrochemical production capacity as well as in launch the much-awaited 4G broadband services while contributing to Make in India and Digital India initiatives.

Ambani, the world’s richest energy billionaire, speaking at the 7th Vibrant Gujarat Summit here, said Prime Minister Narendra Modi’s clarion call for boosting domestic manufacturing and job creation through Make in India campaign and Digital India initiative “have energised India and its enterprises”.

“We will invest over Rs 100,000 crore in the next 12-18 months in contributing to the Make-In-India and Digital India initiatives,” he said at the Summit inauguration function that was attended by Modi as well as top captains of industry and world leaders.

Ambani said as part of the investment programme, RIL will partner and enable thousands of small businesses and Gujarati entrepreneurs to create virtuous cycle of prosperity.

“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 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.

RIL is investing in raising polyester capacity by some 60 per cent in aggregate across four locations, a new 1.5 million tonnes refinery off-gas based petrochemical cracker and downstream units in Jamnagar, enhancing refining profitability via petcoke (petroleum coke) gasification and reducing feedstock costs for petrochem by importing cheap US ethane.

Ambani said he has attended all Vibrant Gujarat Summits and called Modi “a world leader the India is very proud of”.

Gujarat, he said, leads the country in achieving the Millennium Development Goals (MDGs) target.

“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, calling upon fellow industrialists to follow the firm’s example.

Stating that Reliance was determined to give back to Gujarat more and more, he said, “All of us will have to work in the spirit of partnership”.

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Shri Mukesh Ambani’s speech in full text:

RIL Chairman Mukesh Ambani addressing Vibrant Gujarat Summit 2015

Most respected Prime Minister Narendrabhai Modi, respected secretary general Ban Ki Moon, our Honourable Chief Minister Anandiben Patel, members of the Government of Gujarat, Ladies and Gentlemen.

Gujarat is a place I fondly call home. ‘Gujarat maru home state chhe’. And to each and every one of delegates – Welcome to land of Krishna, Mahatma Gandhi, Sardar Patel and now Shri Narendra Modi, our beloved Prime Minister and a world leader that India is very proud of.

Our respected Prime Minister Narendrabhai Modi himself has planted the seed of vibrant Gujarat and nurtured its incredible growth. His powerful and passionate leadership has drawn the world’s best to Gujarat. Like all his path breaking ideas, Vibrant Gujarat has exploded onto the global stage as the ‘must attend’ event at the beginning of every year.

His clarion call of ‘Make in India’ and ‘Digital India’ has energised India and its enterprise.

Ladies & Gentlemen,

Each Vibtrant Gujarat Summit has been a bigger success than the previous one and I have been fortunate to attend each and every one of them every year.

Our Honourable Chief Minister Smt. Anandiben Patel has carried forward this legacy and I would like to congratulate her on this success to make the seventh the biggest ever Vibrant Gujarat. Gujarat has become the most innovative, dynamic and future oriented state in India. From commerce to culture, from girls’ education to provision of clean drinking water, Gujarat leads the country in achieving the MDG targets that are dear to secretary general Ban Ki Moon, who is present with us. We compliment the leadership of Gujarat and commend the enterprising citizens of this wonderful state.

Ladies and Gentlemen,

Reliance has been an inseparable part of Gujarat’s success story. We are proud to be a Gujarati company.

Over the last three decades, we have invested again and again in Gujarat to convert our business vision into reality and Gujarat has given us so much. I would encourage each and every investor to follow our path and invest in Gujarat and benefit themselves.

At Reliance, we are determined to give back to Gujarat more and more. We started our journey of ‘Make in India’ – of setting up global-scale manufacturing facilities in textiles, synthetic fiber, petrochemicals, rubbers and petroleum refinery.

We will invest over a 100,000 crores in next 12 to 18 months in Gujarat in contributing to the ‘Make in India’ and ‘Digital India’ initiatives. As a part of our investment in retail and providing world class digital services, we will partner and enable thousands of small businesses and Gujarati entrepreneurs. These partnerships will create virtuous cycle of prosperity for millions of Gujaratis.

The Reliance Foundation has made a difference to the lives of four million Indians spread over 5,500 rural and urban locations. I have the honour of leading and charring the Pandit Deendayal Petroleum University. Today the PDPU will be hosting several sessions as a part of vibrant Gujarat. The Reliance Foundation is committed to provide all the necessary financial support to PDPU to make it one of the leading universities in the world.

Ladies & Gentlemen,

To my mind Vibrant Gujarat is not just an event to celebrate the spirit of business.

It is a declaration of Gujarat’s determination to move ahead. Under the able leadership of our Prime Minister, the same spirit of vibrant Gujarat is being injected across the nation to make our nation – Vibrant India.

This is an affirmation that India is marching forward with a clear vision to emerge as a global power even as most of the world is struggling with low growth. India can chart a path under our Prime Minister’s leadership in the next few years to really become the fastest growing economy in the world. I believe that this is a goal that is possible to achieve. For this all of us will have to work in a spirit of partnership.

Charged with this spirit I am certain India will triumph and will be admired across the world.

With these words, Ladies and Gentlemen, I offer each and every one of you my warm greetings.