Mukesh Ambani Unveils AI, New Energy Plans at Reliance AGM 2024

At the 47th AGM of Reliance Industries, Mukesh Ambani announced AI-led digital offerings and plans for a national AI infrastructure.

He also highlighted advancements in solar PV module production and a new battery manufacturing facility in Jamnagar.

Key Points:

• Jio, now the world’s largest mobile data company, serves 490 million users, each consuming over 30 GB monthly.
• Jio Brain, an AI tool suite, will transform Reliance's operations, with AI infrastructure plans including data centers in Jamnagar.
• Reliance Retail ranks among the top global retailers with 19,000 stores and a rapid expansion in grocery.
• Reliance’s O2C business saw revenue of Rs 5.64 lakh crore ($67.9 billion) last year.
• Solar PV module production will start by year-end, with the Jamnagar complex becoming a global green energy hub by 2025.
• Ambani emphasised Reliance’s strategy to double revenue and EBITDA across its businesses within 3-4 years, with the New Energy segment set to match the scale and profitability of O2C.

Ambani also reassured investors of continued value creation under the leadership of Akash, Isha, and Anant Ambani.