At the 48th Annual General Meeting of Reliance Industries Ltd (RIL), Chairman and Managing Director Mukesh Ambani laid out a sweeping roadmap for the conglomerate’s next phase of growth, spanning digital infrastructure, artificial intelligence, retail expansion, and clean energy transformation. The most anticipated announcement was the confirmation that Reliance Jio will go public in the first half of 2026, marking a major milestone in India’s telecom and digital services landscape.
Jio IPO: A Long-Awaited Milestone
Ambani confirmed that Jio Platforms, now serving over 500 million subscribers, is preparing to file for its initial public offering (IPO) in H1 2026, subject to regulatory approvals. He emphasized that the listing would reflect Jio’s ability to create value on par with global tech giants and unlock new opportunities for investors.
“This IPO will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts,” Ambani told shareholders.
Jio’s rapid growth in mobile, broadband, and enterprise services has positioned it as one of the largest telecom operators globally. The IPO is expected to be among the biggest in Indian corporate history.
AI Push: Launch of Reliance Intelligence
In a bold move into deep tech, Ambani announced the launch of Reliance Intelligence, a new AI-focused subsidiary aimed at building India’s foundational AI infrastructure. The company will develop sovereign AI models, cloud platforms, and consumer-facing products.
Key initiatives include:
- JioPC: A virtual cloud-powered computer for affordable computing
- JioFrames: Smart glasses with built-in voice assistant
- RIYA: A voice-based content discovery assistant
- Jio AI Cloud: A scalable platform for content creation, storage, and enterprise tools
Partnerships with Google and Meta were also unveiled to co-develop AI tools tailored for Indian users and businesses. Google will launch a dedicated Jamnagar Cloud Region, powered by Reliance’s clean energy, while Meta will collaborate on enterprise-ready AI solutions using its open-source LLaMA models.
Retail Expansion: RCPL Becomes Direct Arm
Reliance Retail continued its aggressive expansion, adding 2,600 new stores in FY25 and now operating over 19,000 outlets across 7,000 towns. Digital channels currently contribute a single-digit share of sales but are expected to grow to 20% within three years.
Reliance Consumer Products Ltd (RCPL), which reported ₹11,500 crore in revenue in its first full year, will now become a direct subsidiary of RIL, streamlining operations and unlocking greater strategic flexibility.
New Energy: Scaling Clean Tech Ambitions
Anant Ambani, making his AGM debut, outlined Reliance’s clean energy roadmap. Despite global supply chain disruptions, the company reported strong performance in its new energy vertical, which includes:
- Polysilicon-to-solar module manufacturing
- Electrolyser and battery production
- Green hydrogen capacity targets of 3 MMTPA by 2032
- Perovskite solar cell R&D and facility commissioning
Reliance aims to make new energy as profitable as its oil-to-chemicals (O2C) business within the next 5–7 years. Captive renewable energy is expected to reduce operating costs by 25%, enhancing competitiveness across verticals.
Financial Highlights
- FY25 Revenue: ₹10.71 lakh crore
- Net Profit: ₹81,309 crore
- Exports: ₹2.83 lakh crore (7.6% of India’s total merchandise exports)
- CSR Spend: ₹2,156 crore
- Contribution to National Exchequer: ₹2.1 lakh crore
- Total Tax & Duty Payments (6 years): Over ₹10 lakh crore
- Cumulative Investment (3 years): ₹5.6 lakh crore
Strategic Outlook
Mukesh Ambani framed the AGM as a turning point for Reliance’s evolution into a deep-tech, AI-native, clean energy powerhouse, with ambitions to shape India’s digital and industrial future. He called AI the “new Kamdhenu” and emphasized inclusive growth, sustainability, and technological sovereignty.
“India’s rise is unstoppable. We are entering a golden age of innovation, and Reliance will lead from the front,” Ambani declared.
Conclusion
The 2025 AGM signals a transformative phase for Reliance Industries. With the Jio IPO on the horizon, a full-stack AI strategy in motion, retail scaling aggressively, and clean energy investments accelerating, the company is positioning itself as a global leader across multiple verticals.
For investors, analysts, and stakeholders, Reliance’s roadmap offers a compelling blend of scale, innovation, and long-term value creation.
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