Kumar Mangalam Birla Announces Rs 30,000 Crore Investment in Renewable Energy and Cement in Rajasthan
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Jaipur, Dec 9 (NationPress) Aditya Birla Group's Chairman Kumar Mangalam Birla revealed on Monday that the group aims to allocate Rs 30,000 crore towards sectors such as renewable energy (RE) and cement in Rajasthan within the next 4 to 5 years.
In a conversation with IANS during the 'Rising Rajasthan Global Summit 2024', Birla stated that their family hails from Rajasthan and they are significant investors in the region.
"Our experience in Rajasthan has been overwhelmingly positive. Furthermore, we are set to invest Rs 30,000 crore into the renewable energy and cement sectors in this state within the next 4 to 5 years," Birla confirmed to IANS.
Commending Prime Minister Narendra Modi, Birla mentioned that under his guidance, substantial progress is being made across various states, leading to industry advancements.
During his speech, he noted that UltraTech Cement plans to enhance its cement production capacity in Rajasthan by 10 million tonnes.
The current production capacity of the group's cement facility in Rajasthan stands at 20 million tonnes. He also mentioned that the jewellery division of the group intends to establish a small manufacturing unit in the state.
At the event, Lakshya Raj Singh Mewar from the Udaipur Royal Family expressed gratitude towards PM Modi for his focus on the tourism sector during his keynote address.
"I appreciate the Prime Minister for his inspiring remarks. Additionally, PM Modi highlighted areas such as heritage tourism and wedding tourism, which will uplift the spirits of the local populace," Mewar stated.
Pankaj Ojha, Director at Deutsche Bank, remarked that India's economy has climbed from the 10th to the 5th position globally over the past decade.
"India is progressing positively. Markets are developing, and the spending capacity of the populace is on the rise. Global confidence in India is also growing," Ojha conveyed to IANS.
PM Modi inaugurated the Rising Rajasthan Global Investment Summit with the presence of distinguished guests, including prominent industrialists, investors, and ambassadors from various nations.
The Prime Minister stated that Rajasthan is not only advancing but is also trustworthy and adaptable.
"Rajasthan knows how to evolve with time. It symbolizes resilience in the face of challenges and is a beacon of new opportunities," PM Modi expressed.
"India's exports have nearly doubled in the last decade. Compared to the decade before 2014, the Foreign Direct Investment (FDI) has also seen a significant increase, more than doubling in the past ten years. During this period, the country's infrastructure spending surged from approximately three lakh crore rupees to eleven trillion," PM Modi added.
