Reliance Industries Chairman Mukesh Ambani sets big goals for businesses, leadership

Reliance Industries (RIL) chairman and managing director Mukesh Ambani has said that Jio Platforms should get ready for the next big opportunity — providing unique digital products and solutions to both domestic and international markets. “This is how Jio can accelerate India’s inclusive development,” Ambani said in his address at the Reliance Family Day function on Wednesday. The speech was released to the media on Thursday.

Complimenting the company’s rollout of 5G services, he said, “Under (Ambani’s son) Akash’s chairmanship, Jio is rolling out the world’s best 5G network across India, at a pace which is faster than anywhere in the world. Jio’s 5G deployment will be complete in 2023.”

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He said the integration of media and entertainment business with digital services will reinvent the industry.

Similarly, Ambani said the group’s retail business under his daughter Isha’s leadership has grown rapidly and emerged as one with the widest and deepest reach in India, across all product baskets. “But I know that all of you in the retail team are capable of chasing even more ambitious targets and goals,” he said.

The new energy business, which spans from building Gigafactories for renewable energy to entry into the hydrogen business, has the potential to transform the company, Ambani said. “With (Ambani’s son) Anant joining this upcoming next-gen business, we are making rapid progress in getting our Gigafactories in Jamnagar ready,” he said. “From being India’s largest and most valuable corporate, Reliance is now well on its way to also becoming India’s ‘greenest’ corporate,” Ambani added.

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The goals before the new energy team are crystal clear — enable India to achieve security and self-sufficiency in energy by reducing the dependence on imports. “And remember, you can do so only by remaining agile and ahead of the technology curve,” he said.

He also congratulated the oil-to-chemicals business, now an independent subsidiary; exploration & production; media and entertainment; and life sciences teams, among others.

“Acutely aware of this opportunity and responsibility, RIL has embarked on a journey of comprehensive self-transformation. The end of 2022 is when RIL will have crossed the half-way mark of its golden decade. In five years from now, RIL will complete its 50 years. All of us are proud of what we have achieved so far. But the journey ahead is going to be far more exciting, more rewarding, but also more challenging,” Ambani said. Talking about the country, he said the next 25 years would be the most transformational in its 5,000-year-old history. “We can become a $40 trillion economy by 2047 — the centenary of our Independence — in a sustainable and stable manner. This goal is realistic and achievable because India is blessed with the power of young demography, the power of a mature democracy and the newly acquired power of technology.”