According to Ambani, the introduction of Jio 4G mobile phone services in 2016 transformed a data-starved India into a data-rich country by providing reasonably priced, fast 4G data to every Indian home.
As its renewable energy projects come online and telecom company Jio’s locally made technology are widely used in India and beyond, Reliance Industries (RIL) is poised for the next phase of its expansion.
Chairman and managing director Mukesh Ambani stated in the company’s FY24 annual report, which was made public on Wednesday, that India is a shining example of stability and prosperity in a world full of turbulence and uncertainty.
By 2035, he said, the corporation wants to have net zero carbon emissions from its operations.
According to Ambani, the introduction of Jio 4G mobile phone services in 2016 transformed a data-starved India into a data-rich country by providing reasonably priced, fast 4G data to every Indian home.
He continued, “And this year, Jio has further enhanced the nation’s digital infrastructure by rolling out its True5G network across India in world-record time,” adding that the introduction of the reasonably priced JioBharat smartphone will significantly contribute to India becoming 2G-mukt.
Even as consumer-facing enterprises expand, Reliance keeps funding conventional fossil fuels. About 30% of India’s needs are met by its gas field in the Bay of Bengal, and the world’s largest single-site refinery, located in Gujarat’s Jamnagar, guarantees a consistent supply of fuel to both India and offshore markets.
All the while, it makes investments in the circular economy and recycling.
“With the chemical recycling of plastic waste-based pyrolysis oil into circular polymers, Reliance has become the first Indian company,” Ambani declared.
This is on top of recycling polyester and polyolefins and turning waste plastic and PET bottles into material for building roads.
“The development of the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar is progressing rapidly as we work towards our goal of attaining net carbon zero by the year 2035,” he stated. “This giga complex will rank among the world’s largest end-to-end integrated manufacturing facilities for renewable energy.”
In addition to producing energy using sustainable resources like sunshine, it will make solar modules and electrolysers for the production of green hydrogen.
According to him, Reliance is also investigating a variety of carbon capture and recycling technology.
He declared, “We are optimistic that our new energy venture will be a major player in the global push for the use of cleaner fuels.” “Our goal is to ensure India’s energy self-sufficiency by not only making clean energy available but also affordable and accessible to all.”
The Indian Premier League T20 cricket match saw record viewership on JioCinema, helping the group’s media and entertainment division maintain its market position.
Additionally, it has signed a historic contract with The Walt Disney Company to merge the operations of Viacom 18 and Star India into a joint venture. He declared, “The resulting JV will deliver best-in-class entertainment and be one of the leading television and digital streaming platforms in India.”
Reliance became the first Indian company to cross the Rs 20 trillion market capitalization milestone thanks to its broad commercial growth.
After the previous wave of capital expenditures, “Reliance has consolidated its balance sheet and is ready for the next level of growth,” he continued.
