At the 46th AGM of Reliance Industries Limited (RIL), Chairman and Managing Director Mukesh Ambani commenced his address by extending hearty congratulations to ISRO for the remarkable achievement of the Chandrayaan-3 mission. Expressing his admiration, Ambani said, "This is a new India brimming with self-confidence."
Mukesh Ambani during the AGM said that he will remain the chairman of the company for next 5 years and will mentor Isha Ambani, Akash Ambani and Anant Ambani, giving hints on the succession of the company’s leadership role. All three kids of Mukesh Ambani have also been inducted into RIL Board
Nita Ambani will step down from the Board of Directors of Reliance Industries Ltd (RIL), while continuing as Chairperson of the Reliance Foundation. Her role in RIL's trajectory remains strong as she'll attend board meetings as a permanent invitee. "Under her leadership, Reliance Foundation has driven various programs addressing education, healthcare, rural development, and disaster response, emphasising her commitment to social impact," said RIL
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Reliance Jio unveiled its latest offering, the Jio AirFiber. With the capability to provide 1,50,000 connections daily, this is poised to significantly expand Jio's network, potentially reaching over 200 million users. The launch of Jio AirFiber is scheduled for the auspicious occasion of Ganesh Chaturthi, on September 19. Currently boasting a customer base of 10 million JioFiber users, the company boasts an extensive optical fiber network covering a distance of 1.5 million km
Mukesh Ambani unveiled Jio Platforms' new direction, highlighting its emphasis on crafting India-specific artificial intelligence (AI) models and solutions spanning diverse sectors. Ambani stressed that to maintain global competitiveness, India must harness AI's potential for catalysing innovation, fostering economic growth, and ultimately, securing the nation's prosperity
Mukesh Ambani disclosed that RIL has amassed a cumulative investment exceeding $150 billion over the past decade. In addition, he highlighted RIL's outstanding achievement in generating employment, boasting an impressive addition of 260,000 jobs in FY23. Ambani noted, "Reliance achieved remarkable milestones in job creation by adding 260,000 positions across our diverse businesses this year. Our on-roll employee count stands at nearly 390,000, while the indirect livelihood opportunities we've fostered are considerably greater."
Mukesh Ambani highlighted RIL's forthcoming goal of establishing a battery giga factory by 2026. The facility will encompass battery chemicals, cells, packs, and extend to energy storage solutions, featuring a battery recycling unit. Ambani reaffirmed their commitment to expeditiously executing the Dhirubhai Ambani Green Energy Giga Manufacturing Complex at Jamnagar, with an initial focus on developing a comprehensive solar PV manufacturing ecosystem
Mukesh Ambani revealed JFS's strategic move into the insurance sector, intending to provide uncomplicated yet intelligent insurance offerings for life, health, and general purposes. Ambani outlined that these products would be delivered through a seamless digital platform and could potentially involve collaborations with global industry players. He further elaborated on JFS's approach of leveraging predictive data analytics to co-create contextually relevant products with partners, ensuring a distinctive and customer-centric experience
Reliance Retail's valuation has surged from Rs 4,28,000 crore in 2020 to an impressive Rs 8,28,000 crore, approximately $100 billion at present, largely attributed to the investment from Qatar Investment Authority (QIA). Welcoming QIA's participation, Mukesh Ambani announced their $1 billion investment, securing a 1% stake in Reliance Retail. This significant investment has propelled Reliance Retail's equity valuation to Rs 8,28,000 crore
Mukesh Ambani explained his plans of expediting Reliance Industries' path to attain net carbon zero by 2035, driven by the adoption of renewables and bioenergy to ensure a sustainable and environmentally friendly business. He added that progress has been robust as the company forge ahead in establishing a New Energy ecosystem that encompasses the production of solar, wind, batteries, hydrogen, and bio-energy platforms