Reliance Industries Ltd. delivered a landmark announcement at its 48th Annual General Meeting, with Chairman Mukesh Ambani unveiling plans for Reliance Jio’s Initial Public Offering by the first half of 2026. The conglomerate posted record revenue of ₹10,71,174 crore ($125.3 billion) for FY-25, becoming India’s first company to cross the $125 billion milestone.
Strategic AI Transformation Powers Growth
Ambani positioned artificial intelligence as “the Kamdhenu of the new age,” launching Reliance Intelligence as a wholly-owned subsidiary to spearhead AI initiatives across energy, retail, telecom, and entertainment. The company announced strategic partnerships with Meta and Google, committing ₹855 crore ($100 million) to establish AI solutions for Indian enterprises.
“Jio promised and delivered digital everywhere for every Indian. Similarly, Reliance Intelligence promises to deliver AI everywhere for every Indian,” Ambani stated, emphasizing the transformative potential of the technology surge.
Mark Zuckerberg and Sundar Pichai participated via video, with Zuckerberg noting, “With Reliance’s reach and scale, we can bring AI to every corner of India.” Google CEO Pichai highlighted the partnership’s scope: “Google and Reliance are partnering to help all of Reliance’s businesses transform using AI—from energy and retail to telecom and financial services.”
Jio IPO: Market Win for Global Competition
The Jio IPO represents a strategic milestone for India’s telecom sector. “This IPO will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts,” Ambani assured shareholders. Jio has achieved the fastest 5G rollout globally and crossed 500 million customers, positioning itself strongly for public market debut.
The timing aligns with Reliance’s aggressive expansion plans, targeting to double EBITDA by 2027. Both Meta and Google, which invested ₹43,574 crore and ₹33,737 crore respectively in Jio Platforms in 2020, stand to benefit significantly from the upcoming public offering.
Clean Energy Boost Drives Sustainability Goals
Reliance unveiled the world’s largest clean energy ecosystem at the Dhirubhai Ambani Giga Energy Complex in Jamnagar. The facility spans 44 million square feet—four times larger than Tesla’s Gigafactory—and required 7 lakh tonnes of steel equivalent to 100 Eiffel Towers.
Anant Ambani, Executive Director, outlined ambitious targets: 20 GW solar PV capacity by 2026, 100 GWh battery gigafactory capacity, and 3 GW electrolyzer production annually. The company aims for net carbon zero by 2035, with green hydrogen targets of 3 million tonnes per annum by 2032.
“Our New Energy business will be a major driver of growth for many decades, with the potential to become as big as our Oil-to-Chemicals business within the next 5-7 years,” Ambani projected.
Retail Revolution Targets Record Growth
Reliance Consumer Products (RCPL), the company’s FMCG arm, targets ₹1 lakh crore revenue within five years through innovative products and expanded market reach. The retail division aims for 20%+ three-year revenue compound annual growth rate (CAGR), leveraging AI-powered solutions and enhanced consumer experiences.
The company launched JioFrames, AI-powered smart glasses supporting multiple Indian languages, similar to Meta’s Ray-Ban glasses. Akash Ambani called the product “a hands-free AI-powered companion designed for the way India lives, works, and plays.”
Employment Surge Creates Economic Impact
Reliance’s workforce currently stands at 6.8 lakh employees, with plans to exceed 10 lakh in coming years. The company contributed ₹2,10,269 crore ($24.6 billion) to the national exchequer in FY-25, with cumulative contributions crossing ₹10 lakh crore over six years.
CSR spending rose to ₹2,156 crore ($252 million) in FY-25, bringing three-year cumulative CSR expenditure beyond ₹5,000 crore. The Reliance Foundation aims to amplify impact five-fold by 2035.
Market Position Strengthens Global Competitiveness
Ambani outlined four core principles driving Reliance’s strategy: “What is good for India is good for Reliance,” building businesses of the future, achieving world-class mega scale, and investing in cutting-edge technologies. The Exploration & Production business delivered record EBITDA of ₹21,188 crore, contributing 30% of India’s natural gas output.
The company’s exports reached ₹2,83,719 crore, accounting for 7.6% of India’s total merchandise exports. With cumulative investments of ₹5.6 lakh crore over three years, Reliance positions itself as a formidable global competitor across multiple sectors.
Reliance’s comprehensive strategy spanning AI transformation, clean energy leadership, and digital innovation creates a blueprint for sustained growth. The convergence of Jio’s public listing, strategic partnerships with tech giants, and aggressive expansion plans signals a new chapter for India’s largest private sector company.
What’s your take on Reliance’s AI-first strategy? Will this tech transformation justify the Jio IPO premium?
