Mukesh Ambani
, the billionaire chairman of
Reliance Industries
(
RIL
), announced during the company’s annual general meeting (AGM) on Thursday that the conglomerate is on track to become one of the world’s top 30
most valuable companies
in the near future.
Ambani highlighted the company’s remarkable growth trajectory, saying, “Our future is far brighter than our past.
For example, Reliance took over two decades to be amongst the Top 500 companies globally. The following two decades saw us joining the league of the world’s Top-50 most valuable companies. With our strategic adoption of Deep-Tech and Advance Manufacturing, I can clearly see Reliance earning a place in the Top-30 League in the near future.”
RIL, with a market capitalization of nearly Rs 21 lakh crore, maintains its position as India’s most valuable listed company and currently ranks 45th globally.
Also Read | Reliance AGM: Mukesh Ambani announces RIL Board of Directors to meet for 1:1 bonus shares; big focus on AI
In USD terms, RIL’s market capitalization is approaching the $250 billion mark. Prior to Ambani’s AGM speech, shareholders were delighted by the announcement that the RIL board will consider issuing bonus shares in a 1:1 ratio, causing the company’s stock to rally over 2% to the day’s high of Rs 3,074, according to an ET report.
During his speech, Ambani emphasized RIL’s transformation into a deep-tech company with advanced manufacturing capabilities. He stated, “We have built an AI-native digital infrastructure for all Reliance businesses, and have built our software stack, integrating end-to-end workflows and real-time dashboards.” Ambani also highlighted Jio’s role as a true deep-tech innovator, emphasizing that all of Jio’s achievements are powered by their own technology.
To facilitate the widespread adoption of AI, Jio is developing a comprehensive suite of tools and platforms called “Jio Brain,” which encompasses the entire AI lifecycle. Ambani expressed his vision for “AI Everywhere For Everyone,” aiming to democratize AI and make it accessible and affordable to everyone in India.
Furthermore, Ambani announced that Jio users will receive up to 100 GB of free cloud storage to securely store and access their digital content, including photos, videos, documents, and data. He added, “And we will also have the most affordable prices in the market for those needing even higher storage.” The Jio AI-Cloud Welcome offer is set to launch during Diwali this year, providing a powerful and affordable solution for cloud data storage and AI-powered services to everyone, everywhere.
