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Report: India's Reliance, tech firms plan 600B-rupee digital industrial area

India's Reliance Industries Ltd., along with more than 20 global technology companies, will invest 600 billion Indian rupees over 10 years to build an integrated industrial area in Maharashtra, Reuters reported, citing a statement by Reliance Chairman Mukesh Ambani.

Reliance's partners in the project include Cisco Systems Inc., Siemens AG, Corning Inc., HP Inc., Dell Inc., Nokia Corp. and NVIDIA Corp., Reuters reported Feb.18.

"When we contacted globally reputed technology companies to participate in this initiative, we received an instant and enthusiastic response," Ambani said.

It will be India's first integrated digital industrial area, but Ambani did not say when the first phase of the project will begin, The Economic Times reported Feb. 18.

Ambani said what China could achieve with its manufacturing revolution, India can achieve more and quickly in the services-led industrial revolution, the paper reported.

Reliance, which entered the telecoms industry in September 2016, is India's largest listed company by market value, according to Reuters.

As of Feb. 16, US$1 was equivalent to 64.34 Indian rupees.