From Fossil Fuels to Clean Energy, From Telecom to New Tech: Mukesh Ambani Reveals RIL’s Grand Plans

Mumbai: Reliance Industries, a market leader in oil and gas, now aims to become India’s largest supplier of clean energy after the success of Jio, its 4G telecom venture. RIL Chairman Mukesh Ambani on Saturday unveiled his plans to expand the company started by his father Dhirubhai Ambani 40 years ago into one of the top 20 in the world.

“I believe that, in the coming decades, the world will transition from fossil fuels to clean, green and renewable energy sources,” said Ambani.

“Can Reliance become a leading provider of clean and affordable energy to India?” he asked a gathering of 55,000 employees at RIL’s Navi Mumbai campus, who responded with a loud ‘Yes, we can!’

Ambani said he looks at Jio, which has added more than 14 crore 4G subscribers in less than a year of its commercial launch, as not a traditional telecom player, but a digital and tech enabler. “Jio has the opportunity to digitally reinvent… with artificial intelligence and block chain… all sectors of India’s economy… whether it is entertainment, financial services, commerce, manufacturing, agriculture, education or healthcare,” he said.

On future of manufacturing, he said it will be revolutionised by invention of new materials and the refining-to-telecoms conglomerate would emerge as world leader in this segment.

Recalling how a start-up founded with Rs 1,000 by his father has now become a Rs 6 lakh crore powerhouse, RIL chief said the biggest corporation of the country can empower every citizen and small business, making India a global super-power.

Before Ambani’s keynote speech, the Reliance Family Day saw a colourful gala at a newly created stadium inside the Reliance Corporate Park (RCP) in Navi Mumbai.

“As we enter our golden decade, we are in a unique position to accomplish… what very few companies in the world can even dream of,” said Ambani.

RIL’s market cap has multiplied from Rs 10 crore in 1977 to over Rs 5 lakh crore, a rise of 50,000 times.

“Reliance is a global leader in energy and materials, where operating safely is an obsession. And with Jio and Retail, where we have established a leadership position in India, we are customer obsessed,” he said.

The event also marked the 85th birth anniversary of RIL founder Dhirubhai Ambani.

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