Updated January 7th, 2024 at 17:35 IST

Tamil Nadu to become Trillion-dollar economy by 2030: Mukesh Ambani

In his virtual address to the Tamil Nadu Global Investor Meet on Sunday, Ambani spoke on the partnership with the state government across sectors.

Reported by: Business Desk
Edited by: Rajat Mishra
Reliance Family Day | Image:Reuters

Investments across sectors: Reliance Industries Managing Director and Chairman Mukesh Ambani has doubled down on its partnership with Tamil Nadu, highlighting partnerships in sectors like renewable energy, green hydrogen and telecom in the state.

In his virtual address to the Tamil Nadu Global Investor Meet on Sunday, the billionnaire businessman also spoke on the partnership with the state government.


"Tamil Nadu has always been a land of rich cultural and intellectual heritage. In modern times, its richness has enhanced multifold by shining progress in industry and agricultural services. It is also contributing to all-round progress and prosperity of India,” he said.

He lauded the leadership of CM MK Stalin, saying Tamil Nadu has become one of the most business-friendly states in the country. 
“Therefore, I have every reason to believe that it would become a trillion dollar economy," he added.


Investments in the State

Speaking of the company’s investments in the state, Ambani said Reliance has “proudly partnered” in Tamil Nadu’s growth over the years.


“We have opened nearly 1300 retail stores across the state, investing around Rs 25,000 crores,” he said.

Speaking of their telecom arm Jio, he said the company has invested over Rs 35,000 crores in Tamil Nadu, bringing the fruits of digital revolution to 35 million subscribers in every town and village in the state.


“In December 2023, Jio completed the fastest rollout of 5G anywhere in the world. This will enable Tamil Nadu to reap the benefits of Artificial Intelligence and breakthrough in other industrial revolution technologies which will further accelerate its economy,” he added.

The multi-industry conglomerate has also partnered with Canada’s Brookfield asset management and US-based Digital Realty to set up a data centre expected to open next week, he added. The partnership will enable the companies to collectuively invest in special purpose vehicles for developing data centres in India.  


The JV will operate under the brand name 'Digital Connexion: A Brookfield, Jio and Digital Realty Company,' with Reliance holding 33.3 per cent stake in the same.


Published January 7th, 2024 at 17:35 IST