India Unstoppable, Reliance To Bet Big On New Age Technology : Mukesh Ambani

The Chairman of Reliance Industries Limited (RIL) , Mukesh Ambani has called India "unstoppable" during 46th Annual General Meeting (AGM) of the company through video conferencing. Like every year, investors were looking at few big announcements during one of the most awaited yearly events of RIL, and Ambani didn't disappointed them at all. From proposed launch of Jio AirFiber to pledging to deliver AI to anyone aand anywhere and betting big on Compresed Biogas Plants (CBG) to inductment of Children Akash Ambani, Isha Ambani and Anant Ambani into the RIL Board as non-Executive Directors, Ambani exhibited renewed faith in India as emerging superpower of the world.

Ambani said during his address that the 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. Calling geo-political situation challenging, Ambani said, “When we look at the geo-political 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”.

Jio AirFiber next month

Ambani announced launch of AirFiber next month on the occasion of Ganesh Chartuthi which falls on September 19. AirFiber is able to deliver fibre-like internet speed over the air without any wires. Anyone ccan have a personal Wi-Fi hotspot in his home which becomes connected to ultra-high-speed internet using True 5G.

In a yet another big announcement giving artificial intelligence (AI) a major push, Ambani said RIL is committed to 2,000 Mw of AI-ready computing capacity. He said, “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 that the company was ready to deliver AI to anyone and anywhere.

At the same time, Ambani announced setting 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. “We have embarked on transitioning O2C business into a sustainable and green business. We are accelerating our journey to achieve Net Zero by 2035 through renewables and bioenergy,” said Ambani.

He also said that Reliance has commissioned the first commercial scale Compressed Bio Gas (CBG) Plant at Barabanki in Uttar Pradesh in 10 months. 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,” he added. Jio Chairman Akash Ambani announced the launch of Jio Smart Home Services and Jio True5G Developer Platform during the day.

Big Push to Women Entrepreneur

Reliance foundation chairperson Nita Ambani said that the Foundation in partnership with the Bill and Melinda Gates Foundation has launched a special initiative to empower one 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. Notably, RIL has announced that Nita Ambani will step down from the board of the company. As the Chairperson of Reliance Foundation, Nita Ambani will attend all the RIL board meetings as a permanent invitee to the board so that the company can continue to benefit from her advice.