Mukesh Ambani Bets Big On AI, Genomics As New Growth Drivers

(MENAFN- IANS) Mumbai, Aug 29 (IANS) India, with its scale, talent and entrepreneurial spirit, is uniquely positioned to lead in this new era of artificial intelligence (AI) and genomics, and Reliance has positioned itself confidently to lead the nation's mission to ensure that abundance and affordability become the birthright of every Indian, Reliance Industries Chairman Mukesh Ambani said on Friday.

Addressing the 48th Annual General Meeting (AGM), Ambani said that they are expanding into the frontiers of Digital Health, Life Sciences, and Genomics.

"And we are developing AI as a new growth engine, besides embedding AI across all our businesses – from retail to telecom, from energy to entertainment," he said in his address to shareholders.

Aiming to more than double EBITDA by 2027 from the 2022 level, he said that our conventional and non-conventional workforce has grown to nearly 6.8 lakh people.

"I see this growing to more than 10 lakh people over the next few years. It gives me immense satisfaction to say that we rank among the most admired employers and largest job creators in India," said Ambani.

Reliance Jio family has crossed 500 million customers. Jio's revenue was Rs 1,28,218 crore ($15 billion), a growth of 17 per cent YoY in FY25, and EBITDA was Rs 64,170 crore ($7.5 billion).

"These figures are a testimony to the enormous value Jio has already created, and even greater value it is destined to create. 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," said the Reliance Industries Chairman.

He also announced the launch of Reliance Intelligence, a wholly owned unit focused on AI. The unit will build gigawatt-scale, AI-ready data centres in Jamnagar, deliver AI services across education, health and agriculture, and attract top global talent.

Partnerships with Google and Meta will support its ambitions. Ambani called AI the "Kamdhenu of our age", highlighting his belief that it will drive productivity and human potential.

Reliance and Meta will form a joint venture to develop Llama-based agentic enterprise AI platforms and tools. Reliance will also work with Google Cloud to establish a state-of-the-art, AI-focused cloud region dedicated to Reliance in Jamnagar.

In consumer businesses, Reliance Consumer Products Ltd will be reorganised into a direct subsidiary, giving more independence to a portfolio that includes Campa Cola, Independence, and other fast-growing brands.

The business has already scaled to Rs 11,500 crore in revenue in FY25, with ambitions to reach Rs 1 lakh crore within five years.

"The global economy today is navigating through an era of great uncertainty. Geopolitical tensions are rising, volatility is persistent, and predictability is scarce. The world is realising that conflict produces no winners, whereas co-operation ensures shared prosperity. When nations co-operate, trade flows freely, investments flourish, and everyone wins," Ambani said.

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