Reliance Industries’ Chairman and Managing Director Mukesh Ambani on Friday announced a series of measures to accelerate the group’s AI (artificial intelligence) strategies, at the 48th annual general meeting (AGM) of the company.
It included the announcement of a new subsidiary, Reliance Intelligence, which will be part of a long-term plan to become a deeptech enterprise, while focusing on growth engines of telecom, retail and clean energy businesses.
Reliance Intelligence will focus on building gigawatt-scale, AI-ready data centres, powered by green energy and engineered for training and inference at a national scale. It will aim to provide “easy-to-use AI services for consumers, small businesses, and enterprises, and solutions for sectors of national importance”, Ambani told shareholders.
Commenting on the current global macro environment, Ambani said: “The global economy is navigating through an era of great uncertainty. Geopolitical tensions are rising. Volatility is persistent and predictability is scarce. The world is realising that conflict produces no winners whereas co-operation ensures shared prosperity.”
“When nations cooperate, trade flows freely, investments flourish and everyone wins. In today’s interdependent world, the prosperity of each country is inseparably linked to the prosperity of all,” he added. This observation comes at a time when India-US trade relations are scarred, after the US in August hiked its trade tariff to 50 percent for imports from India.
The Reliance Industries stock closed 2.16 percent down at Rs1,356 post the AGM, after opening the day at Rs1,388.8.
Google CEO Sundar Pichai added that Google and Reliance Industries were “partnering to help all of Reliance's businesses transform, using AI—from energy and retail to telecom and financial services. To support this AI adoption, together we are establishing a Jamnagar Cloud region, built for and dedicated to Reliance”, Pichai said.
Meta CEO Mark Zuckerberg also announced plans for a fresh partnership at the AGM. “Meta and Reliance will deliver our open-source AI models to Indian businesses to help them fuel their work,” Zuckerberg said.
Jio, which has over 500 million users, reported an 18 percent year-over-year jump in consolidated revenue to Rs41,054 crore in Q1FY26. For FY25, Jio reported gross revenues of Rs150,270 crore with an Ebitda of Rs64,170 crore for the full fiscal, led by ARPU (average revenue per users) of Rs206.
Mukesh Ambani’s son Akash Ambani, chairman of Reliance Jio Infocomm, said Jio will help digitise enterprises and MSMEs with secured AI-platforms. He also highlighted the recent launches made by the company in the form of Jio PC (a cloud-based desktop service) and Jio Frames (an AI-powered variable platform with support for multiple Indian languages).
Mukesh Ambani reiterated during the AGM that Reliance Industries has plans “to more than double its Ebitda by the end of its golden decade [of 2028]”. In 2022, he said Reliance Industries had an Ebitda of Rs1.26 trillion.
Akash, who is on the board of Reliance New Energy Ltd, highlighted that the Reliance Industries Group is developing an integrated portfolio spanning conventional fuels, biofuels, clean solutions and re-hydrogen. Work on the Giga-Energy Complex at Jamnagar was progressing rapidly, he added, which includes the Polysilicon plant, Glass factory, and CVD reactor.