Compiled by: Business desk
Last updated: August 28, 2023, 3:30 PM IST
Chairman Mukesh Ambani speaks at the 46th annual general meeting of Reliance Industries Limited on August 28, 2023. (PTI)
At RIL’s 46th AGM, Mukesh Ambani also called on everyone in business to work together as a ‘grand coalition to transform India into a fully developed nation by 2047’.
Speaking at the 46th Annual General Meeting of Reliance Industries Limited (RIL) on Monday, the company’s Chairman and Chief Executive Officer Mukesh Ambani called “New Reliance is the forerunner of the emerging New India”, emphasizing that the company is “cumulative” has invested more than US investments. $150 billion in the past decade, more than any other company in the country.
RIL’s businesses and philanthropic initiatives have “enhanced the quality of life of hundreds and billions of people,” he said.
The best way to describe this new Reliance is that “we have now become a new-age technology company. Today we are a producer, implementer and democratizer of technology,” added Ambani.
He praised other ventures, start-ups and companies for contributing immensely to India’s growth, and called on everyone in the business world to work together as a “grand coalition to transform India into a fully developed nation by 2047.” .
He then elaborated on RIL’s consolidated revenue which was Rs 9,74,864 crore while EBITDA was Rs 1,53,920 crore while net profit was Rs 73,670 crore.
He also announced JioAirFiber, which will be launched on September 19 on Ganesh Chaturthi. “With JioAirFiber, we can boost this expansion with up to 1.5 lakh connections per day. Jio Platforms will develop India-specific artificial intelligence models and AI-powered solutions across domains.”
To remain globally competitive, India must deploy AI for innovation, growth and national prosperity, he claimed.
“Here is my promise to our compatriots. Seven years ago, Jio promised broadband connectivity for everyone, everywhere. We delivered. Today, Jio promises AI to everyone, everywhere. And we will deliver it,” he vowed.
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