“Despite geopolitical uncertainty, India is on the rise, and India’s rise is unstoppable,” Mukesh Ambani, CMD, Reliance Industries Ltd told shareholders at the company’s AGM on Friday (August 29, 2025).

“Today, India already ranks among the world’s top four global economies. Under the determined leadership of our Prime Minister, Narendrabhai Modiji, India’s GDP is growing faster than all major economies. With the right set of reforms, advanced manufacturing capabilities, and a national priority on Deep Tech, our economy can grow at 10% annually,” he said.

“This will mean that the per capita income of Indians could rise 4-5 times within the next two decades, making India not just a prosperous nation but also a more equal nation. More importantly, India need not copy any foreign model. We have the ability, and the responsibility, to create an India-first model of development,” he said.

“This model will use Deep Tech to bring prosperity and security to India, improve the quality of life of each and every Indian, and protect the environment. This model will also harmonise technology with democracy, economy with culture, spirituality with science, and national aspirations with friendship across all nations,” Mr Ambani said.

Jio IPO planned in first half of 2026

Mr Ambani told shareholders that Jio was 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.

“I assure you that this will demonstrate that Jio is capable of creating the same quantum of value like our global counterparts. I am sure that it will be a very attractive opportunity for all investors,” he added.

Jio’s journey would progress beyond India

Akash Ambani, chairman Jio Platform informed shareholders that Jio’s journey would progress beyond India.

“Our innovative technologies will now be deployed globally, ready to solve global challenges. With strategic partnerships and a clear roadmap, we will take Jio’s services to the rest

of the world, creating value for partners and shareholders alike,” he said.

“Behind every achievement of Jio is a mission – to serve customers from the heart, to connect the unconnected, and to uplift every citizen. As we move forward, Jio remains committed to ensure that our technology empowers all of you,” he said.

RIL forms new subsidiary Reliance Intelligence

RIL has announced the formation of a new wholly-owned subsidiary called Reliance Intelligence to focus in AI and deep tech.

“This new company is conceived with four clear missions to house India’s next-generation AI infrastructure. Reliance Intelligence will build gigawatt-scale, AI-ready data centres, powered by green energy and engineered for training and inference at national scale,” Mr Mukesh Ambani said.

“Work has already begun on the gigawatt-scale, AI-ready data centres in Jamnagar. These facilities will be delivered in phases aligned to India’s growing needs, powered by Reliance’s new-energy ecosystem, and custom-made for AI training and inference,” he said.

He said the new company will house global partnerships. “Reliance Intelligence will bring the world’s best tech-companies and open-source communities together with Reliance’s deep-domain expertise and execution strength, to deliver performance leadership, resilient supply, and India-first compliance for AI,” he said.

“Besides, it will build AI services for India. Reliance Intelligence will deliver trusted, easy-to-use AI services for consumers, small businesses, and enterprises, and solutions for sectors of national importance such as Education, Healthcare, and Agriculture. The services will be reliable at scale and affordable for every Indian,” Mr Ambani said. “It will also house talent for AI. Reliance Intelligence will create a home for world-class researchers, engineers, designers, and product builders, combining the speed of research with the rigour of engineering, so that ideas become innovations and applications, providing solutions to India and the world,” he said.

He also announced a deeper, holistic partnership for AI with long-standing partner, Google.

“Through this partnership, we are marrying Reliance’s proven capability to build world-class assets and execute at India’s scale with Google’s leading cloud and AI technologies, so that developers, start-ups, and enterprises can innovate faster, operate more securely, and reach every corner of India,” he said.

Published – August 29, 2025 02:43 pm IST