Reliance AGM: From Jio AirFiber launch to AI push, 5 big announcements by Mukesh Ambani


Reliance Industries chairperson Mukesh Ambani on Monday addressed the 46th annual general meeting via video conferencing. He began his address by calling India as ‘unstoppable and tireless’.

“New India is full of self-confidence. This India is unstoppable and tireless. India will rise as a leading nation. India’s G20 presidency is historic”, he said.

“When we look at the geopolitical and economic situation, there are dark clouds of uncertainty hovering around us. However, there is also one sharp unmistakable ray of certainty. The certainty that India will rise as a leading nation in our increasingly multi-polar world,” Ambani added.

Here are the big announcements made at the Reliance AGM 2023.

1. Mukesh Ambani announced that his children Akash, Anant and Isha have been inducted into the company’s board of directors. His wife Nita will be stepping down from the board, and will attend the meetings as a permanent invitee. “Nita has been my best adviser and source of immense strength”, he said, while announcing he would continue as chairman and managing director for five more years and groom the next generation leaders.

2. Reliance Jio will launch AirFiber on Ganesh Chaturthi, which falls on September 19. AirFiber basically delivers fibre-like internet speed over the air without any wires. You just have to just plug it in, turn it on, and that’s it. You now have a personal Wi-Fi hotspot in your home, connected to ultra-high-speed internet using True 5G, Jio said on its website.

3. In a big artificial intelligence (AI) push, Mukesh Ambani said his group is committed to 2,000 Mw of AI-ready computing capacity. “Looking ahead, Jio Platforms wants to lead the effort in developing India-specific AI models and AI-powered solutions across domains, thereby delivering the benefit of AI to Indian citizens, businesses and government alike”, he said, pledging to deliver AI to everyone and everywhere.

4. Mukesh Ambani announced that Reliance will set up 100 compressed biogas plants to convert agri-waste into gas. “We will rapidly scale this up to 25 CBG plants across India. Our target is to establish 100 CBG plants in the next 5 years, consuming 5.5 million tonnes of agro-residue and organic waste, thereby mitigating nearly 2 million tonnes of carbon emissions, and producing 2.5 million tonnes of organic manure annually”, he announced.

5. Reliance foundation chairperson Nita Ambani announced that the group’s philanthropic initiative in partnership with the Bill and Melinda Gates Foundation has launched a special initiative to empower 1 million women entrepreneurs across India. “Over the next three years, this initiative will support and engage women in farm and non-farm income-generating activities, helping them achieve an annual income of at least 1 lakh”, she said.

Reliance Industries Chairman Mukesh Ambani speaks during the 46th Annual General Meeting of Reliance Industries Limited, on Monday,(PTI)


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