The Uttar Pradesh Global Investors Summit is a great confluence of development. It is my privilege to be here for the second time. Lucknow is a sacred city, the city of Lakshman. Uttar Pradesh is a blessed land, the land of Lord Ram, the land of the confluence of the Ganga, Yamuna, and Saraswati.
Respected Prime Minister, our nation has transformed remarkably since you have become Prime Minister in 2014. Guided by your vision and driven by a laser-sharp focus on execution, a bold new India is taking shape, an India which will fulfill the aspirations of its 1.4 billion citizens.
Modi ji, you have actually said that India has now entered its Amritkaal. This year's budget has indeed laid the foundation for India's emergence as a developed nation. It stands out for its highest-ever resource allocation for building the foundation for the country's growth in terms of capital expenditure. This is bound to not only boost economic growth but also achieve greater social welfare.
I am confident that India is on a very strong growth path, and there are four main reasons for my conviction. First, Indians are embracing technology at a rate unseen even in the developed world. For example, as we speak this year, 2023, India is rolling out the fastest 5G network through the length and breadth of our country.
Second, India has the world's largest population of youth. Our youth is brimming with entrepreneurial energy and passion. Their innovations and ideas will take the world by storm. Third, thanks to your far-sighted leadership, regional imbalances are fast disappearing. Uttar Pradesh is a shining example of this. The divide between urban India and rural Bharat is also closing.
Fourth and most importantly, you have brought about a fundamental change in the mindset of the nation. There is unprecedented hope and optimism among the people. Nobody in the world can question the fundamentals of the Indian economy. They are robust, and now is the time for all our enterprises to step up on the accelerator. Because industry and government must always go hand in hand.
Respected Shri Yogi ji, just as today the whole world sees India as a beacon of hope, similarly today Uttar Pradesh has become a beacon of hope for a new India. From Noida to Gorakhpur, the energy and enthusiasm among people is visible. Whether it is law and order, infrastructure, or ease of doing business, Uttar Pradesh is emerging as the best state in India.
UP is also blessed with a highly motivated and result-oriented administration. Therefore, all of us representing India's business community at this summit would like to assure you that we have come to partner with you in your Vision 2030. Together we can and we will transform India's most populous state into one of India's most prosperous states, achieving your vision of a trillion-dollar economy in the next five years.
Allow me to spell out Reliance's commitments towards Uttar Pradesh. First, Jio will complete its rollout of 5G to cover every town and village in this state by December of 2023, that is in 10 months from today. Jio Platforms will help modernize all areas of business and industry, agriculture, social sector, and governance. We plan to pilot our two new innovative initiatives, Jio School and Jio AI Doctor, to bring top-class education and healthcare most affordably to villages and small towns across the state of Uttar Pradesh.
Second, Reliance Retail will revolutionize hundreds of thousands of kiranas and small stores across UP, enabling them to grow more and earn more. More importantly, we will increase manyfold our sourcing of a wide range of agricultural and non-agro products from the state. It will benefit our hardworking farmers, local artisans, craftsmen, MSMEs as well as the supply chain ecosystem in UP.
Third, in new energy, we will set up 10 gigawatts of renewable energy capacity, the largest in UP. We will also start an ambitious new bio-energy business. Reliance's bio-energy industry will greatly benefit UP's farmers. Our farmers are not just food providers, they will now also become energy providers. Additionally, solid waste management will improve and the environment will be cleansed.
Fourth, our philanthropic arm, Reliance Foundation, is contributing to the success of the Prime Minister's Namami Gange mission. It will continue to engage with partners and government in its mission to transform lives and livelihoods in the state.
In a nutshell, Reliance will continue to work for UP with all its heart and soul. And we always back our words with action. When I last visited the summit in 2018, Reliance was just beginning its journey in Uttar Pradesh, and I had committed to Yogi ji that Reliance would be a reliable partner to Uttar Pradesh. True to our word, from that day till now, we have invested 5,000 crore in Uttar Pradesh.
Our businesses have not only been growth multipliers as they enable several sectors of the economy to grow, but also employment multipliers. Our investments have generated over 80,000 direct and indirect jobs in the state.
Today I am happy to announce that we plan to invest an additional 75,000 crore in UP over the next four years across Jio, retail, and renewable businesses. These new investments will create an additional over one lakh jobs in the state. Uttar Pradesh's golden era has begun. My heartfelt best wishes to all the people of UP. I wish this summit and the state all the success. Thank you very much. Thank you.
