Ambani outlines new growth drivers for RIL, calls for businesses to unite to build ‘Balwaan Bharat’

Mukesh Ambani

Reliance Industries Ltd Chairman Mukesh Ambani laid out a sweeping vision for the company's future, unveiling new steps to unlock value and expand businesses while calling on the Indian industry to unite in building a strong or “Balwaan" Bharat amid rising geopolitical tensions.

At the company’s 48th annual general meeting, Ambani confirmed that Reliance Jio, the telecom arm that has transformed India’s digital economy, is preparing for a public offering. “Today, it is my proud privilege to announce that Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals,” he said. With more than 500 million subscribers and FY25 revenue of Rs 1.28 lakh crore, the IPO is expected to be among India’s largest, giving investors a slice of the country’s dominant telecom player.

Ambani also announced the launch of Reliance Intelligence, a wholly owned unit focused on artificial intelligence. The unit will build gigawatt-scale, AI-ready data centres in Jamnagar, deliver AI services across education, health and agriculture, and attract top global talent. Partnerships with Google and Meta will support its ambitions. Ambani called AI the “Kamdhenu of our age,” highlighting his belief that it will drive productivity and human potential.

He said three converging breakthroughs are reshaping the global future: clean energy, raising hopes for overcoming the climate crisis; genomics, which promises better health, longer life and cures for diseases; and artificial intelligence and deep tech, which have boosted productivity, efficiency, and human potential.

In consumer businesses, Reliance Consumer Products Ltd. will be reorganised into a direct subsidiary, giving more independence to a portfolio that includes Campa Cola, Independence, and other fast-growing brands. The business has already scaled to Rs 11,500 crore in revenue in FY25, with ambitions to reach Rs 1 lakh crore within five years. Ambani described it as a new “value-creating engine” for Reliance, comparable in future size to the retail business.

On Reliance’s New Energy business, which Ambani referred to as the “most ambitious and transformational mission of Reliance in this decade”, he said that the business is being built with a singular purpose of making India self-sufficient in energy, and to resolve India's energy trilemma of security, affordability, and sustainability through world-scale giga manufacturing, through round-the-clock renewable electricity, and through green fuels and chemicals at global scale.

“This goal may look impossible to achieve now. But we are laying a robust foundation for our country's energy transition so that freedom from imports can be achieved by the time India celebrates 100 years of independence in 2047,” he said.

In Kutch, Gujarat, RIL is developing one of the world's largest single-site solar projects spanning 5,50,000 acres of arid land – three times the size of Singapore. This single site could meet nearly 10 percent of India's electricity needs within the next decade, Ambani said in his speech.

Ambani, however, added that even as the group scales up its ambitions in new and clean energy, hydrocarbons continue to remain vital both for Reliance and India.

“Hydrocarbons will remain vital for India for several years. Our strategy is clear: excel in traditional energy while building the system of the future. We are developing an integrated portfolio spanning conventional fuels, biofuels, green hydrogen, and clean solutions,” he said.

He added that RIL’s oil-to-chemicals business is not merely a legacy business but it is the backbone of Reliance's transformation into an integrated energy company, positioned for the next decade of global energy evolution.

Closing the meeting, Ambani reflected on his 48 years at Reliance and India’s economic transformation in that time. He said recent geopolitical shifts show there is “no substitute for economic strength” and urged Indian businesses to unite “in the spirit of cooperation, mutual learning, and mutual support” to achieve self-reliance in critical technologies and industries.

“Throughout our history, Reliance has contributed to this mission of building a strong India, a Balwaan Bharat,” Ambani said. "However, the magnitude of the challenge is so large that all Indian businesses must work together with unity as a grand coalition – in the spirit of cooperation, mutual learning, and mutual support."

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