Will invest Rs 30,000 crore in RE, cement sectors in Rajasthan: Kumar Mangalam Birla
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Aditya Birla Group Chairman Kumar Mangalam Birla on Monday said that the group will invest Rs 30,000 crore in sectors like renewable energy (RE) and cement in Rajasthan in the next 4 to 5 years.
Speaking with IANS on the sidelines of 'Rising Rajasthan Global Summit 2024', Birla said that our family is from Rajasthan and we are also big investors here.
"Our experience in Rajasthan has also been very good. Further, we will invest Rs 30,000 crore in the renewable energy and cement sector in the state in the next 4 to 5 years," Birla told IANS.
Lauding Prime Minister Narendra Modi, Birla said that under his leadership, a lot of good work is happening in different states of the country and industries are developing across the spectrum.
Birla said during his address that UltraTech Cement will increase its cement production capacity in Rajasthan by 10 million tonnes.
Currently, the production capacity of the group's cement unit in Rajasthan is 20 million tonnes. He further said that the group's jewellery unit is also planning to set up a small manufacturing unit in the state.
At the event, Lakshya Raj Singh Mewar of the Udaipur Royal Family told IANS that Prime Minister Narendra Modi emphasised the tourism sector during his keynote address.
"I want to thank the Prime Minister for his encouraging words. Along with this, PM Modi also spoke about sectors like heritage tourism and wedding tourism. This will enhance the morale of the people in the region," Mewar added.
Deutsche Bank Director Pankaj Ojha said the ranking of India's economy has improved from 10th place to 5th in the last decade.
"India is moving in a positive direction. The markets are emerging and people's spending capacity is also increasing. The trust of the whole world in India is rising," Ojha told IANS.
PM Modi inaugurated the Rising Rajasthan Global Investment Summit in the presence of esteemed guests, including renowned industrialists, investors and ambassadors from different countries.
The Prime Minister said Rajasthan was not only rising but was also reliable and receptive.
"Rajasthan knows how to refine itself with time. Rajasthan stands synonymous with combating challenges. Rajasthan is the name of creating new opportunities,” said PM Modi.
"India's exports have also almost doubled in the last ten years. Compared to the decade before 2014, FDI (Foreign Direct Investment) has also more than doubled in the last decade. During this time, India has increased the expenditure on infrastructure from about three lakh crore rupees to eleven trillion,” PM Modi added.
