RIL AGM: Jio is not only making India '2G-mukt', but also '5G-yukt', says Mukesh Ambani

Reliance Industries Ltd's (RIL) 44th Annual General Meeting (AGM) will be held on Thursday. The most anticipated event is scheduled to take place virtually in wake of the COVID-19 pandemic. Reliance AGM is one of the much awaited annual events of the year as Asia's richest person Mukesh Ambani is likely to make some important announcements about RIL's upcoming ventures.

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3.34 pm: As Reliance climbs new summits of success in its onward journey, it will also cross new milestones in being a caring and empathetic corporate citizen. But believe me: The Best of Reliance is yet to come: Mukesh Ambani 

3.32 pm: We are committed to grow our business so that we are among the top 10 retailers globally. I am confident that Reliance Retail is on a hyper growth trajectory to grow at least 3x in the next 3-5 years: Mukesh Ambani

3.31 pm: Reliance is probably the only large company in the world that has successfully transformed itself from a traditional industrial business into an enterprise that now includes two mega-scale consumer and technology businesses: Mukesh Ambani 

3.30 pm: JioMart registered over 6.5 lakh peak orders in a single day. Over 3 lakh merchant partners from 150 cities were enabled and empowered. Expansion is underway to onboard 1 cr merchant partners over next 3 years, says Mukesh Ambani 

3.29 pm: Reliance Retail sold 4.5 crore units of electronics last year which translates to over 120,000 units per day. We sold over a billion units of groceries or about 30 lakh units per day: Mukesh Ambani

3.30 pm: Our apparel business sold nearly five lakh units per day and over 18 crore units during the year. This is equivalent to dressing the entire population of UK, Germany and Spain once: Mukesh Ambani

3.29 pm: Despite challenging conditions, Reliance Retail continued to deliver. We added 1,500 new stores, which is amongst the largest retail expansion undertaken by any retailer during this period, taking our store count to 12,711, says Mukesh Ambani

3.28 pm: Jio is uniquely positioned to quickly and seamlessly upgrade to 5G. To develop 5G ecosystem, we are working with global partners to develop a range of 5G devices, says Ambani

3.26 pm: Jio has taken tremendous strides in maturing state-of-the-art #5G technology signifying a quantum leap to next frontier of wireless broadband. Our 'Made in India' solution is comprehensive, complete and globally competitive: Mukesh Ambani

3.23pm: JioFiber has acquired over 2mn new premises over past year. With a cumulative base of 3mn active home and business users JioFiber has become the largest and the fastest growing fixed broadband operator in India: Mukesh Ambani

3.22 pm: With Microsoft we have operationalised an initial 10 MW capacity of JIO-AZURE Cloud Datacentres in Jamnagar and Nagpur. We are currently onboarding the initial group of pilot customers: Mukesh Ambani

3.21 pm: With @Facebook we have launched an initial set of integrations between WhatsApp and JioMart on a trial basis and the response from WhatsApp and JioMart customers is encouraging along with lots of valuable feedback: Mukesh Ambani 

3.20 pm: We are proud to play a part in India's next wave of technological innovation. Helping to connect 1.3 billion Indians to the opportunities the internet creates is meaningful to us at Google - and certainly to me personally: Sundar Pichai 

3.18 pm: A new 5G partnership between Google Cloud and Jio will help more than a billion Indians connect to a faster internet, support businesses in digital transformation and lay foundation for next phase of India's digitization: Sundar Pichai

3.17 pm: At a time when so many aspects of our lives and work are moving online, it's even more important to make technology accessible and helpful for everyone. This goal is at the heart of our partnership with @RelianceJio: Sundar Pichai

3.16 pm: JIOPHONE NEXT is powered by an optimised version of Android OS jointly developed by Jio and @Google. It is ultra-affordable and packs cutting-edge features. It will be available in market from Ganesh Chaturthi, 10th September: Mukesh Ambani

3.16 pm: I am pleased to announce that Google and Jio teams have jointly developed a truly breakthrough smartphone - JIOPHONE NEXT. It is a fully featured smartphone supporting the entire suite of applications from both @Google and Jio: Mukesh Ambani

3.15 pm: During recent spectrum auctions, we invested Rs 57,123 cr to acquire significant additional spectrum, making Jio the largest operator of 4G spectrum in India. We have operationalized nearly 100% of this additional spectrum: Mukesh Ambani 

3.14 pm: RelianceJio is today world's 2nd largest mobile data carrier handling over 630 crore GBs a month. This is 45% growth in data consumption in the last year alone - a testament to the rapid pace at which India is digitizing: Mukesh Ambani

3.13 pm: In spite of COVID, @RelianceJio sustained its track record of robust performance. @RelianceJio became the first operator outside China to cross 400 million mobile subscribers in a single country: Mukesh Ambani

3.12 pm: Building a New Energy and materials ecosystem and decarbonising and repurposing our existing O2C business is a multi-decade growth path for our company. It has potential to create unprecedented value for India and for Reliance: Mukesh Ambani

3.10 pm: We will transform our legacy business into sustainable, circular and net zero carbon materials business. We will do this by repurposing our existing assets to extend their economic life and earning capacity: Mukesh Ambani

3.09 pm: Reliance is also evolving a vision for New Materials and Green Chemicals. We will kickstart this by strategically investing in India's first world-scale carbon fiber plant for supporting our hydrogen and solar ecosystems: Mukesh Ambani

3.08 pm: With these new initiatives, Reliance will put Gujarat and India on world solar and hydrogen map. All our products will proudly proclaim 'Made in India, by India, for India and for the world': Mukesh Ambani

3.07 pm: We will build two additional divisions to further strengthen this ecosystem. First, a dedicated Renewable Energy Project Management and Construction Division. Second, a dedicated Renewable Energy Project Finance Division: Mukesh Ambani

3.06 pm: We will invest an additional Rs 15,000 cr in value chain, partnerships and future technologies, including upstream and downstream industries. Thus, our overall investment in New Energy business will be Rs 75,000 cr in 3 years: Mukesh Ambani

3.05 pm: Reliance will thus create and offer a fully integrated, end-to-end renewables energy eco-system. Over the next 3 years we will invest over Rs 60,000 crore in these initiatives: Mukesh Ambani

3.00 pm: We plan to build four Giga Factories to manufacture and integrate all critical components of New Energy ecosystem - solar photovoltaic module factory, energy storage battery factory, electrolyser factory, fuel cell factory: Mukesh Ambani

2.59 pm: Jamnagar was the cradle of our old energy business. Jamnagar will also be the cradle of our new energy business: Mukesh Ambani

2.58 pm: We have started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar. It will be amongst the largest such integrated renewable energy manufacturing facilities in the world: Mukesh Ambani

2.57 pm: World-class talent will be the most critical resource for this new business. We have started attracting the best talent from across world. We have established Reliance New Energy Council with some of the finest minds globally: Mukesh Ambani

2.56 pm: In 2016, we launched Jio with the aim of bridging the Digital Divide in India. Now, in 2021, we are launching our new energy business with the aim of bridging the green energy divide in India and globally: Mukesh Ambani

2.55 pm: Third: Reliance will make its New Energy business a truly global business: Mukesh Ambani

2.54 pm: Second: As a company always focused on growing businesses of the future, Reliance will provide leadership on the combined strength of our balance-sheet, talent, technology and proven project execution capabilities: Mukesh Ambani

2.53 pm: Today I would like to make three affirmations. First: As one of the biggest energy markets in the world, India will play a leading role in transforming the global energy landscape: Mukesh Ambani

2.52 pm: India's GDP per capita is $2,000 while the world average is $12,000. India's power consumption per capita is only one third of global consumption. This Wealth Disparity and Energy Disparity is unacceptable: Mukesh Ambani

2.51 pm: The global New Energy agenda needs to move from dialogue to action, from commitment to urgent implementation on the ground. It is not enough to be carbon neutral; the world needs to achieve absolute reductions in emissions soon: Mukesh Ambani

2.50 pm: Last year, I had announced our 15-year commitment to become net carbon zero by 2035. Today I am happy to present to you our ambitious strategy and roadmap for implementing this vision: Mukesh Ambani

2.49 pm: I welcome H.E. Yasir Al-Rumayyan, Chairman of Saudi Aramco and Governor of PIF, to join the Board of Reliance Industries as Independent Director. His joining our Board is also the beginning of internationalisation of Reliance: Mukesh Ambani

2.48 pm: bp and Reliance commenced production in KGD6 basin. Our JV brought two of our three toughest deep water gas projects to production. This has been accomplished in record time and set a new global benchmark for capital costs: Mukesh Ambani

2.46 pm: Continued engagement and resolve from both sides, even during this pandemic, is a testimony of strong relationship between Saudi Aramco and Reliance. I expect our partnership to be formalised in an expeditious manner this year: Mukesh Ambani

2.45 pm: Our O2C biz faced unprecedented challenges by severe economic contraction at the beginning of year. Yet we were probably the only company globally that operated at near full capacity and was profitable in every quarter: Mukesh Ambani

2.44 pm: Reliance Retail continues to be the undisputed leader in organised retailing in the country, with scale that is more than 6 times the next competitor. We are by far the leader in each category - grocery, electronics and apparel: Mukesh Ambani

2.43 pm: Reliance Jio had net addition of 37.9 million subscribers during the year. We now serve over 425 million consumers on our network. We have revenue market leadership in 19 out of 22 circles: Mukesh Ambani

2.42 pm: We rewarded the shareholders with the largest and the most successful Rights Issue ever by an Indian company. Our retail shareholders have made 4x returns in just one year on their rights shares: Mukesh Ambani

2.40 pm: RIL raised $44.4bn - largest ever capital raise by any company in a year globally. This capital raise is a strong vote of confidence by global investors in India's growth potential: Mukesh Ambani

2.38 pm: As India's largest enterprise, RIL's contribution to Indian economy remains unmatched - 6.8 per cent of India's merchandise exports, 75,000 new jobs, Rs 21,044cr of customs+excise, Rs 85,306cr of GST+VAT, and Rs 3,213cr of Income Tax: Mukesh Ambani

2.35 pm: Even in a challenging environment, RIL's performance continued to be outstanding; Consolidated revenue was Rs 540,000 cr, consolidated EBITDA was Rs 98,000 cr, and almost 50% of EBITDA was contributed by consumer businesses: Mukesh Ambani 

2.30 pm: The Covid-19 pandemic is a humanitarian crisis. It has tested the very spirit of humanity. But even in the darkest hour, our spirit has shone bright. We as a people have come together, and fought this battle: Nita Ambani

2.28 pm: RIL's Mission Vaccine Suraksha is one of India's largest corporate vaccination drives, to vaccinate 20 lakh of our family, including retired employees, partner company employees, and their families free of cost, says Nita Ambani

2.20 pm: Reliance Foundation launched five Missions to fight COVID - Mission Oxygen, Mission COVID Infra, Mission Anna Seva, Mission Employee Care, and Mission Vaccine Suraksha: Nita Ambani

2.19 pm: On Women's Day in March this year, we launched a digital platform for women called Her Circle, which is an inclusive, collaborative, interactive, and socially-conscious digital movement: Nita Ambani

2.18 pm: Despite the pandemic, I am pleased to announce that Jio Institute is all set to commence academic sessions at their campus in Navi Mumbai this year itself: Nita Ambani

2.17 pm: Our football league ISL became the first, the longest, and the biggest sporting event to be held in India with complete safety protocols, during the pandemic, with over 1600 people in 18 different bio-bubbles: Nita Ambani

2.13 pm: While our top priority was COVID relief, all our other developmental work continued. We remained committed to Education and Sport for All. We also worked hard to bring our dream project - Jio Institute - to life: Nita Ambani

2.11 pm: The COVID-19 pandemic is a humanitarian crisis. It has tested the very spirit of humanity. But even in the darkest hour, our spirit has shone bright. We as a people have come together, and fought this battle: Nita Ambani

2.10 pm: The spirit of care and empathy is the common thread across everything we do at Reliance. We care for our employees, their families; our customers, shareholders, and partners; the country and community; the planet and the people: Mukesh Ambani

2.09 pm: Had our grandfather been with us today, he would be proud. This is the Reliance he always wanted to see, where each person did their best to help those in need, and be in service of our communities and our country: Isha Ambani

2.08 pm: Our business and financial success since last AGM have exceeded expectations. But what has given me far greater happiness than our business performance is RIL's humanitarian efforts during these exceedingly difficult times: Mukesh Ambani

2.05 pm: Throughout the COVID crisis, our Reliance Family has risen to the occasion with a sense of purpose and national duty. I am sure our efforts of the last one year would have made our Founding Chairman, Shri Dhirubhai Ambani, proud: Mukesh Ambani

2.00 pm: Mukesh begins address, to make key announcements shortly. Watch here: -

Youtube Channel: https://www.youtube.com/watch?v=v4iM5uZTIWY

Jio Channel- https://www.youtube.com/jio

Facebook link - https://www.facebook.com/RelianceIndustriesLimited

Jio Facebook page- https://www.facebook.com/Jio

Twitter handle- https://twitter.com/flameoftruth

Reliance Jio Twitter handle- https://twitter.com/reliancejio

1.57 pm: Reliance AGM 2021: Mukesh Ambani address shortly. Stay tuned.

1.52 pm: Reliance AGM: What do shareholders expect?

RIL's shareholders will be keenly watching the company's AGM, awaiting positive announcement on the business front.

1.46 pm: RIL AGM 2021: Reliance Retail and JioMart

RIL is likely to share key details pertaining to its retail venture and JioMart. Mukesh Ambani, during his address, may share details regarding the company's Future Retail acquisition besides other plans to expand the retail business in India. An announcement in expanding JioMart is also expected.

1.35 pm: Will Mukesh Ambani declare dividend and bonus?

It is widely expected that RIL Chairman Mukesh Ambani will declare dividend and bonus finally during the Reliance AGM 2021.

1.28 pm: Where to watch Reliane AGM 2021 live event?

The 44th Annual General Meeting of RIL will be held through video conferencing and other audio-visual means. The company has shared several links. You can follow the event on Twitter, Facebook, YouTube and even WhatsApp. Users can visit 'The Flame of Truth' channel or the Jio channel on YouTube to watch the event live. On Facebook, people can go to Reliance Industries Ltd or Reliance Jio page to follow the event live. On Twitter, users can follow the event on @FlameOfTruth and @RelianceJio. You can also get the event's updates via the chatbot on WhatsApp number +91-79771-11111.

1.20 pm: Reliance AGM 2021: What's in store?

RIL AGM's most anticipated announcements will be about the affordable 5G phone. Mukesh Ambani has said in the company's 43rd AGM that Reliance was working to create India's first 5G network.