Adani Group to invest Rs 70,000 crore in Uttar Pradesh, create 30,000 jobs
Agriculture and allied, IT and electronics, MSME, Manufacturing, Renewable Energy, Pharma, Tourism, Defence & Aerospace, Handloom & Textiles, and other sectors are covered under the projects.
FollowIndia's most populous state, Uttar Pradesh, is slated to receive investment deals of Rs 70,000 crore from the Adani Group, founded by billionaire businessman Gautam Adani, which is expected to create 30,000 employment in the state. On Friday, Adani announced at the ongoing UP Investors Summit in Lucknow.
Following Bloomberg's list of the world's wealthiest people, Adani's net worth is $98.7 billion. He also stated that his company would invest Rs 24,000 crore in developing road and transportation facilities in the state. In addition, Rs 35,000 crore would be invested in the multimodal logistics and defence industries.
PM Narendra Modi attended the UP Investors Summit's Ground Breaking Ceremony @3.0 on Friday. He laid the foundation stone for 1406 projects valued at over Rs 80,000 crores during the Ground Breaking Ceremony.
While talking at the ceremony, PM Modi stated, "I believe that Uttar Pradesh will provide impetus to India's growth story in the 21st century. Uttar Pradesh will be a major driving force in India over the next ten years."
The projects cover agriculture and allied, IT and electronics, MSME, Manufacturing, Renewable Energy, Pharma, Tourism, Defence & Aerospace, Handloom & Textiles, and other sectors.
Meanwhile, Reliance Industries CEO Mukesh Ambani has reclaimed the title of wealthiest Asian, surpassing fellow countryman Gautam Adani, according to the Bloomberg Billionaires Index's most recent ranking.
According to Bloomberg's Billionaires Index, the Adani Group chairman's fortune has taken a hit due to significant erosion in the valuation of shares of his group firms over the last few weeks, bringing his net worth down to $98.7 billion. Ambani is ranked eighth on this coveted list, while Adani has dropped to ninth from fourth a few weeks ago.
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