From a push for AI to the much awaited Jio IPO, Mukesh Ambani unveiled multiple announcements in Reliance Industries’ 47the Annual General Meeting on Friday. The chairman elaborated on the ambitious vision the conglomerate has set for its future, announcing multiple new ventures like Reliance Intelligence, new partnerships such as joint venture with Meta, and tech savvy products such as JioFrames.
Jio IPO by 2026
A key highlight was Ambani’s announcement that Reliance Jio, the telecom arm of the group, is preparing to go public. “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 told shareholders.
Jio, which recently crossed 500 million customers, reported revenues of Rs 1,28,218 crore ($15 billion) and EBITDA of Rs 64,170 crore ($7.5 billion) in FY25, growing 17 per cent year-on-year.
Akash Ambani Unveils AI Innovations
Akash Ambani announced the launch of two new products — JioPC and JioFrames — as part of Reliance’s drive to bring artificial intelligence into millions of homes across India.
JioPC has been designed to transform an everyday television or screen into an AI-enabled computer. “This product will transform your TV or any other screen into a full-feature AI-ready computer,” he said at the AGM. Powered by the JioAI Cloud, the device will support advanced applications and AI tools, offering a cost-effective alternative for households, students and small businesses looking to access powerful computing.
JioFrames, meanwhile, is a wearable ecosystem tailored for Indian users. “JioFrames is an AI-powered wearable platform and ecosystem, made for India,” he noted. The glasses come with multilingual voice assistant support and can capture images, record videos or go live, with data stored directly in the JioAI Cloud.
AI in Entertainment: Voice Print and RIYA
Akash Ambani also unveiled Voice Print, an AI-led feature designed to enhance entertainment in local languages. “Now, introducing Voice Print, the next leap in immersive storytelling,” he said, explaining that users on the JioHotstar app could watch sports and films in their preferred Indian language while retaining the authenticity of original voices through AI-driven dubbing and lip-sync.
In addition, the company presented RIYA, a voice-based search assistant integrated into JioStar. “Finding what to watch in a world of thousands of hours of content can feel overwhelming. That is why, we have built RIYA—your new voice-enabled search assistant,” Ambani explained, adding that the tool would allow viewers to request shows or films seamlessly without scrolling through endless libraries.
Reliance Intelligence and AI Ambitions
Mukesh Ambani also announced the creation of Reliance Intelligence, a wholly-owned subsidiary focused on artificial intelligence. The unit will develop gigawatt-scale AI-ready data centres in Jamnagar, build AI services for sectors like healthcare and education, and attract top global talent.
“Our motto is AI Everywhere for Everyone,” Ambani declared, calling AI the new “Kamdhenu – the divine wish-fulfilling cow of our age.”
Global Partnerships with Google and Meta
The AGM also saw major technology collaborations. Reliance is deepening its AI partnership with Google, combining Jio’s scale with Google’s cloud and AI technologies. Additionally, Ambani announced a new joint venture with Meta, aimed at delivering sovereign, enterprise-ready AI solutions tailored for Indian businesses.
Meta CEO Mark Zuckerberg joined virtually, emphasising the role of open-source AI models in boosting innovation across India. “With Reliance’s reach and scale, we can bring this to every corner of India,” Zuckerberg said.
Anant Ambani on Clean Energy Expansion
Shifting focus to Reliance’s renewable energy ambitions, Executive Director Anant Ambani detailed progress on two mega-projects — the Kutch solar site and the Dhirubhai Ambani Giga Energy Complex at Jamnagar.
In his first AGM address, he said Reliance was building “one of the world’s largest single-site solar projects” across 5,50,000 acres in Gujarat’s Kutch. Once operational, it could provide nearly a tenth of India’s electricity needs. “At peak, we will deploy 55 MW of solar modules and 150 MWh of battery containers every day. This will be among the fastest installations globally,” he added.
The Jamnagar complex, still under construction, has already required 5 million manhours, 3.4 million cubic metres of concrete and 7 lakh tonnes of steel, an amount equal to 100 Eiffel Towers. Spread over 44 million square feet — four times Tesla’s Gigafactory — the site is set to house a battery giga factory by 2026, followed by an electrolyser giga facility later the same year.
Clean Fuels and Mobility Transition
Reliance is also moving its broader operations towards cleaner energy sources. “Across facilities, we are shifting to clean fuels. Our efficiency programmes have delivered 10 million gigajoules of energy savings in three years,” Anant Ambani said. He added that initiatives such as plastic pyrolysis, biomass, and hydrogen will strengthen the group’s competitive advantage.
Subsidiary Jio-bp will play a central role in the company’s green mobility strategy, with plans to expand EV charging points and roll out alternative fuels including hydrogen and biofuels. “Jio-bp will play a vital role in powering India’s mobility needs, while driving the transition to a cleaner, more sustainable future,” he stated.
Record Financial Performance
Reliance reported consolidated revenues of Rs 10,71,174 crore ($125.3 billion) in FY25, making it the first Indian company to cross the $125 billion milestone. Net profit rose to Rs 81,309 crore ($9.5 billion), while EBITDA stood at Rs 1,83,422 crore ($21.5 billion).
The company contributed Rs 2,10,269 crore ($24.6 billion) to the national exchequer in FY25, and CSR spending grew to Rs 2,156 crore ($252 million). Employment also expanded, with the Reliance workforce now standing at 6.8 lakh, projected to cross 10 lakh in the coming years.
Retail and Consumer Growth
Isha Ambani highlighted the rapid expansion of Reliance Retail, calling it one of the fastest-growing retail ecosystems globally. Reliance Consumer Products Limited (RCPL) achieved Rs 11,500 crore ($1.4 billion) turnover in its first year, making it the fastest-growing FMCG company in India. Further, she said that RCPL will now act as a direct subsidiary of Reliance Industries.
Foundation and Social Initiatives
Nita Ambani shared updates from Reliance Foundation, which has reached over 87 million Indians through healthcare, education, sports, rural development and wildlife conservation programmes. She announced a new 2,000-bed medical city in Mumbai and reiterated the foundation’s commitment to supporting India’s Olympic aspirations for 2036.
Looking Ahead
Closing the AGM, Ambani reaffirmed Reliance’s commitment to becoming a “deep-tech company with advanced manufacturing capabilities.” He stressed that the conglomerate will continue to “reimagine and re-engineer” itself, driving both shareholder value and national progress.
