Adani, Ambani Group To Invest Over Rs 3,000 Crore In Gwalior To Boost Employment Opportunities

The Adani Group pledged Rs 3,500 crore investment while Reliance Industries agreed to invest Rs 150 crore at the Regional Industry Conclave (RIC) organised in Gwalior on Wednesday. The RIC is Chief Minister Mohan Yadav's endeavour to transform the state's economy and create employment opportunities for the state’s youth.

Gwalior (Madhya Pradesh):Union Minister Jyotiraditya Scindia’s efforts in transforming Gwalior into a technology and industrial hub have not gone to waste. Business tycoons Gautam Adani and Mukesh Ambani have decided to invest a huge chunk to give a major boost to multiple sectors in the erstwhile royal constituency.

The Adani Group pledged Rs 3,500 crore investment while Reliance Industries agreed to invest Rs 150 crore in the city, said Madhya Pradesh Chief Minister Mohan Yadav on Wednesday at the Regional Industry Conclave (RIC).

The RIC is an innovative move of Yadav to remodel the state into an industrial hub to polish its economy and create employment opportunities for the state’s youth. So far, three RICs have been organised in the past six months, including RICs in Ujjain, and Jabalpur.

Karan Adani from the Adani Group said, "Adani Group will set up a 2 million tonne capacity cement production unit in Guna and a propylene production facility in Shivpuri. We also plan to construct a jacket production facility in Badarwas, focussing on women empowerment."

Reliance Industries’ representatives said that a fertiliser and biogas production facility will be set up in Gwalior. "Gwalior garnered investments worth Rs 4,570 crore during the RIC. Out of this Rs 2,750 crore will be invested across 10 parts of Gwalior-Chambal regional," the statement added.

Gwalior RIC was inaugurated on Wednesday, August 28, by CM Yadav and Union Minister Jyotiraditya Scindia. Investors who participated at the conclave showcased a presentation mapping their plans for investments in the state.

The CM also performed Bhoomi Pujan after inaugurating TWE-OBT Industry Group's world-class hygiene non-woven unit in the Acharpura Industrial Area of ​​Bhopal. During this event, he said that under the leadership of Prime Minister Narendra Modi, the country has transformed into the fifth-largest economy globally.

"Taking one step at a time, MP too, is moving ahead on the path of development. There is continuous progress in fields such as agriculture, industrialisation and employment," he added.

The RICs are being organised as a pre-event of the "Invest Madhya Pradesh-Global Investor Summit-2025". GIS-2025 is proposed to be organised in Bhopal on February 7 and 8 next year with the objective of marketing MP as a favourable investment destination.