By Saurabh Chaturvedi and Gurdev Singh Virk
Mumbai--Reliance Industries Ltd. (500325.BY) Thursday said it
will invest 1.50 trillion rupees ($26 billion) in India over the
next three years to expand and diversify its businesses.
Chairman Mukesh Ambani told shareholders at the annual general
meeting that the company plans to invest heavily in its different
businesses, including oil and gas, retail and wireless
broadband.
The investment plans from India's fourth biggest company by
market value come at a time when foreign investments into India are
falling.
Both local and foreign business leaders are concerned about the
country's slowing economy, the government's failure to push through
reforms required to bring in new investments, and the unfriendly
tax policies.
Write to Saurabh Chaturvedi at saurabh.chaturvedi@dowjones.com
and Gurdev Singh Virk at gurdev.singh@dowjones.com
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