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Reliance AGM 2023 Highlights: Chairman Mukesh Ambani in the 46th AGM of RIL announced a slew of plans for the conglomerate with an aim to bolster India's growth in the global economy. In that regard, Ambani announced several digital, retail business plans including launch of Jio AirFiber next month, plans of entering Jio Financial Services in the insurance sector, pursue wind power, target battery giga factory by 2026, among others.
Meanwhile, shares of Reliance Industries closed 1.38 percent down at Rs 2,435.95 apiece on BSE amid RIL AGM announcements.
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Here are the major announcements from RIL AGM 2023:
1. Isha, Akash, Anant Ambani to join RIL board
2. Jio promises AI to everyone, everywhere
3. JFS to foray into insurance segment, with potential global partner
4. Jio True5G developer platform and True5G Lab announced
5. Jio AirFiber launch on September 19; pan-India Jio 5G by December
6. Jio Smart Home services to "redefine our homes"
7. Only Indian retailer in global top 100
8. Accelerating to achieve net carbon zero by 2035
9. Pursuing wind power, target battery gigafactory by 2026
10. On track to build solar, wind, battery, hydrogen & bio-energy platforms
Read more in detail here
Reliance Jio hasintroduced Jio Smart Home services, which will provide many services for operating home appliances smoothly.Speaking at the AGM, Jio Chairman Akash Ambani said that "Jio Smart Home Services is poised to “redefine how we experience and manage our homes."Here's a step by step guide on how it works
RIL chairman Mukesh Ambani said the company's growth in the next 10 years will outstrip the growth it has seen in the past.
“I am supremely confident that the value that your company will create for all its stakeholders over the next decade will be multiple times greater than what it has generated over the past 45 years,” said Ambani.
Ambani said Reliance Industries has scrupulously adhered to certain cardinal principles of value creation, ensuring that it becomes more valuable with time. They include growth driven by the following - perpetual demand, superior customer experience and value, power of disruptive technologies and innovation, business discipline and global market potential.
Reliance Industries Limited (RIL) has become India’s largest bio-energy producer based on the company’s indigenously developed technology, said Chairman Mukesh Ambani on August 28. Ambani said Reliance has commissioned the first commercial-scale compressed biogas (CBG) plant at Barabanki in Uttar Pradesh in 10 months.
--Working On India’s First Carbon Fibre Unit In Hazira, Gujarat
--Aim To Be Top 3 Worldwide In Carbon Fibre
--O2C To Transition Into Sustainable, Integrated Chemicals Business
Reliance Retail will emerge as the most rapidly expanding business in terms of revenue and EBITDA as India grows from a $2,500 per-capita economy to a $10,000 per-capita economy, said Mukesh Ambani, Chairman of Reliance Industries, at the company's 46th Annual General meeting on August 28.
“Reliance Retail is the only Indian retailer in the global Top 100, and one of the fastest growing retailers in the world.” he added.
Jio Financial Services will enter the insurance segment to offer life, general, and health insurance products, said Reliance Industries' chairman Mukesh Ambani on August 28.
Speaking at the annual general meeting, Ambani said, "Jio Financial Services will...offer simple, yet smart, life, general, and health insurance products through a seamless digital interface, potentially partnering with global players."
-Jio Finance Services (JFS)To Foray into Insurance Segment, With Potential Global Partner
-Isha, Akash, Anant Ambani to join RIL board
-Jio Promises AI To Everyone, Everywhere
-Announce Jio True5G Developer Platform & True5G Lab
-Jio AirFiber To Launch on Sept 19; pan-India Jio 5G by Dec
-Jio Smart Home Services To Redefine Our Homes
-Only Indian Retailer In Global Top 100
-To Explore Blockchain-based Platforms And CBDC
-Accelerating To Achieve Net Carbon Zero By 2035
-To Pursue Wind Power, Target Battery Giga Factory By 2026
-On Track To Build Solar, Wind, Battery, Hydrogen & Bio-energy Platforms
Seeking blessings of Lord Krishna, Mukesh Amabni ends his speech on 46th AGM of Reliance Industries
--First, I shall groom and empower all the Next-Gen leaders at Reliance and prepare them for the challenges and opportunities of the future.
--Second, I shall especially mentor Akash, Isha and Anant so that they can provide collective leadership and dependably take Reliance to greater heights of growth and value in the decades ahead.
--Third, together with the Board and all my long-time colleagues, I shall further enrich Reliance’s unique Institutional Culture, which has sustained your Company’s perpetual and exponential growth.
