Chairman and Managing Director Mukesh Ambani said that the value of Reliance Industries (RIL) will double by the end of the current decade (by 2030).
Double group value by 2030
Free 100 GB cloud storage for Jio users
Delhi: The value of Reliance Industries (RIL) will double by the end of the current decade (by 2030), Chairman and Managing Director Mukesh Ambani has said. They mentioned that the revenues and profits of their retail and telecom divisions are likely to double in the next 3-4 years. He said that by 2031, the new energy business could become profitable. Explaining the multi-phase growth plan at RIL’s 47th annual meeting, Mukesh said the oil and chemicals business will continue to play a key role in the growth of his group. He said that environment-friendly fuels and AI-based solutions will act as long-term growth drivers for Reliance. The board of directors will meet on September 5 to consider the proposal to give one more share as bonus (1:1 ratio) to the shareholders. This is the first time after 2017 that bonus shares will be given and the third time after 2009. Mukesh said, ‘We will distribute the fruits accordingly to our stakeholders who have played a vital role in the growth of Reliance. He reminded that every business in the Reliance empire was built from a normal level but not in good condition. He said that we have brought global recognition to every business. He made it clear that businesses are being run with the aim of creating wealth for the country and not for short-term profits. He explained that we provide the best products and services that improve people’s living standards and increase productivity. He said that Reliance is working to create energy security for the country and a clean world for the future generations. He said personal or family wealth is not important to him. Mukesh revealed that his three children have completed a year as directors of the company’s board and are ready to take on greater responsibility.
Diwali day begins..
Mukesh said that Jio users are being given an opportunity to get free cloud storage services up to 100 GB. Photos, videos, documents, digital content and data can be safely stored in it, he said. This facility will be launched on Diwali under the Jio AI-Cloud Welcome Offer. If you want to store data beyond 100 GB, we will provide that facility at the cheapest price in the market. AI services should be made available to everyone from anywhere, not just through expensive, high-end products, but through all types of devices. Only then will everyone get the benefits of AI,’ explained Mukesh. He said that Reliance is setting up gigawatt AI-ready data centers in Jamnagar, Gujarat.
Call record.. convert to other language and print: Akash
Reliance Jio Chairman Akash Ambani introduced the JioFoncall AI service. Through this, users can record or cloud store the phone calls they have spoken, he added. It was explained that these words can be translated into other languages and printed if necessary (Voice to Texts). Akash explained that ‘saving important conversations, understanding conversations in other languages, sending them to others if necessary, and searching can be done very easily’.
A more active ‘Hello Jio’
Jio has added a voice assistant called ‘Hello Jio’ to its newly launched operating system JioTV OS. While watching TV, they can control the set-top box with their words. This facility can be accessed through Mic button on Jio Remote. Akash Ambani said, ‘Searching for content through the Jio Set-Top Box will become easier as the ability to understand natural language is improved.
Luxury Jewelery at Retail: Isha
Company Director Isha Ambani said that Reliance Retail aims to double its business in the next 3-4 years. He said that it has become the leader in the essential goods sector and the fastest growing retail company. Responding to the Reliance Retail Consumer Brands business, we have relaunched many brands like Campa, Lotus Chocolates, Sosya. Isha said that as these were well received in the beginning, we were confident that we are going in the right direction. He said that we are also planning to enter the business of luxury jewelry.
Solar giga factory this year itself
Mukesh said that the first solar giga factory will be started this year itself. This Giga factory manufactures PV modules, cells, wafers, ingots, polysilicon, glass etc. The modules convert solar light into electricity. “Manufacturing of 20 gigawatts of solar PV (photo voltaic) will start by the end of this year,” said Mukesh.
It was the beginning of a revolution in the Indian entertainment industry
Mukesh believes that the mega merger of media businesses of Reliance Industries and Walt Disney has ushered in a new era in the Indian entertainment industry. We are inviting Disney into the Reliance family. Just like Jio and retail businesses, the post-merger media business will also become an amazing growth center in the Reliance empire,’ he said.
One of the 50 most valuable companies in the world.
Mukesh recalled the words he had said in 2017 that Reliance Industries would enter the list of 50 most valuable companies in the world before its golden jubilee (2027). It has been realized this year itself, he said. In July 2018, Reliance received a valuation of 100 billion dollars. It became the first Indian company to achieve this milestone by increasing its market value to 250 billion dollars (over Rs. 20 lakh crore) within the next six years. I promised in 2022 that the company’s market value will double by 2027, when Reliance will complete 50 years. I strongly believe that Reliance will scale new heights in terms of growth and profitability in the future,’ he added.
- Mukesh’s net worth is 112 billion dollars (about Rs. 10 lakh crores). Most of this comes from his 42% stake in Reliance.
- Reliance has spent Rs 3,643 crore on research and development activities in 2023-24. With this, the amount spent in the last four years has reached Rs.11,000 crores.
