Challenge is so big that all Indian businesses must work together: Mukesh Ambani

At Reliance Industries Ltd’s 48th annual general meeting, Chairman Mukesh Ambani laid out a broad vision for the company’s future, unveiling new initiatives to unlock value and expand businesses while urging the Indian industry to unite in building a strong or ‘Balwaan’ Bharat in the face of rising geopolitical tensions.

Reflecting on his 48 years at Reliance and India’s economic transformation over that period, Ambani highlighted that recent geopolitical shifts demonstrate there is “no substitute for economic strength.”

He called on Indian businesses to come together “in the spirit of cooperation, mutual learning, and mutual support” to achieve self-reliance in critical technologies and industries.

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“Throughout our history, Reliance has contributed to this mission of building a strong India, a Balwaan Bharat,” Ambani said. “However, the magnitude of the challenge is so large that all Indian businesses must work together with unity as a grand coalition – in the spirit of cooperation, mutual learning, and mutual support.”

Ambani confirmed that Reliance Jio, the telecom arm that has transformed India’s digital economy, is preparing for a public offering. “Today, it is my proud privilege to announce that Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals,” he said.

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With more than 500 million subscribers and FY25 revenue of Rs 1.28 lakh crore, the IPO is expected to be among India’s largest, offering investors a stake in the country’s dominant telecom player.

The chairman also announced the launch of Reliance Intelligence, a wholly owned unit focused on artificial intelligence. The unit will establish gigawatt-scale, AI-ready data centres in Jamnagar, deliver AI services across education, health, and agriculture, and attract top global talent. Ambani described AI as the “Kamdhenu of our age,” underscoring his belief that it will enhance productivity and human potential.

In consumer businesses, Reliance Consumer Products Ltd. will be reorganised into a direct subsidiary, granting greater independence to a portfolio that includes Campa Cola, Independence, and other fast-growing brands. The business achieved Rs 11,500 crore in revenue in FY25 and aims to reach Rs 1 lakh crore within five years.

He said three converging breakthroughs are reshaping the global future: clean energy, raising hopes of overcoming the climate crisis; genomics, which promises better health, longer life, and cures for diseases; and artificial intelligence and deep technologies, which are already boosting productivity, efficiency, and human potential.