During Reliance Industries’ (RIL) annual general meeting (AGM) on Thursday, Chairman Mukesh Ambani made a bold prediction that the conglomerate is on the verge of joining the ranks of the world’s top 30 most valuable companies.
Ambani reflected on the company’s impressive growth, stating, “Our future shines brighter than our past. It took Reliance over two decades to enter the Top 500 companies globally. In the following two decades, we broke into the Top 50. With our strategic focus on Deep-Tech and Advanced Manufacturing, I am confident that Reliance will soon be counted among the Top 30 companies worldwide.”
With a market capitalization of nearly Rs 21 lakh crore, RIL remains India’s most valuable listed company, currently ranking 45th on the global stage.
In dollar terms, RIL’s market capitalization is approaching $250 billion. Prior to Ambani’s AGM speech, investors were thrilled by the news that the RIL board would consider issuing bonus shares in a 1:1 ratio, leading to a 2% rally in the company’s stock, which peaked at Rs 3,074, according to an ET report.
During his address, Ambani also underscored RIL’s evolution into a deep-tech company with advanced manufacturing capabilities, saying, “We have built an AI-native digital infrastructure for all Reliance businesses, integrating end-to-end workflows and real-time dashboards.” He also spotlighted Jio’s role as a pioneering deep-tech innovator, emphasizing that Jio’s accomplishments are powered by their proprietary technology.
To support widespread AI adoption, Jio is developing a comprehensive suite of tools and platforms known as “Jio Brain,” which spans the entire AI lifecycle. Ambani shared his vision for “AI Everywhere For Everyone,” aiming to make AI accessible and affordable to all Indians.
Additionally, Ambani announced that Jio users will receive up to 100 GB of free cloud storage for securely storing and accessing their digital content. He added, “We will also offer the most competitive prices for those needing additional storage.” The Jio AI-Cloud Welcome offer is set to launch during Diwali, providing powerful and affordable cloud storage and AI-powered services to users across India.
