business

Updated: Aug 12, 2019 14:07 IST

Reliance Chairman Mukesh Ambani, speaking at the company’s annual general meeting in Mumbai, outlined several deals, partnerships and launch of its Jio Fiber project. Ambani also used the occasion to respond to Prime Minister Narendra Modi’s call to the private sector and make a promise.

PM Modi had, during his address to the nation last week, asked the private sector to invest in Jammu and Kashmir after Parliament ended the special status for the state and decided to convert it into two union territories.

The government expects the change in status to encourage private companies to invest in Jammu and Kashmir.

The prime minister had particularly directed his appeal to entities associated with the “technology world, administration or the private sector” to give priority in their policies and their decisions as to how to disseminate technology in Jammu and Kashmir.

“When digital communication will be strengthened there and BPO Centres, Common Service Centres will increase in numbers, there will be enhanced opportunity of earning livelihood and the life of our brothers and sisters of Jammu and Kashmir will become easier,” PM Modi had said.

Ambani responded to this call on Monday, saying his company was committed to the needs of the people of Jammu and Kashmir and Ladakh. “You will see several announcements for the Jammu and Kashmir and Ladakh in the coming days,” Mukesh Ambani said, according to news agency ANI.

During the debate in Parliament over scrapping Article 370 too, Home Minister Amit Shah had held J&K’s special status – which restricted people from buying real estate in the state – as a key reason for the low capital investment in the state.

Confederation of Indian Industry has already pledged to support the initiative after the change. “We would like to see investment across sectors in Jammu and Kashmir,” Uday Kotak, CII President-designate and MD and CEO of Kotak Mahindra Bank said in a statement after the industry body met Finance Minister Nirmala Sitharaman last week.

Ambani also informed the annual meeting that the Reliance Industries had assumed responsibility for the families of CRPF personnel killed in Pulwama terror attack in February this year. “As a mark of respect to the Pulwama martyrs, we have assumed full responsibility for the education of their children and the livelihood of their families,” he said.