The Reliance Group announced an investment of Rs.8,000 crore to Rs.10,000 crore investment in Gujarat during the Vibrant Gujarat Global Investors’ Summit that began on 28 September 2003.

The investment will be made over the next three years, in various industries, particularly IT and telecommunications. The Reliance group stated that it would like to set up a world-class broadband information and communication network.

The group has already invested around Rs.50,000 crore in the state with the 27 million tpa Jamnagar Refinery Complex being the largest investment. Incidentally, this is the biggest standalone refinery in the world.

Over the next five days, sessions on infrastructure (ports and roads), oil and gas sector, tourism, bio-technology and pharmaceuticals, minerals and mining, agro processing and education, will be held at Ahmedabad and Surat. Conferences on textiles and garments and gems and jewellery would also be held.

It might be recalled that the state announced its Industrial Policy: 2003 a few days prior to the event.