India Is Among The Most Resilient Nations In The World: Mukesh Ambani | Full Speech | RIL AGM

Ladies and gentlemen, good afternoon. It is 2:00 p.m. and time to start the meeting. I welcome all of you to the 49th Annual General Meeting of Reliance Industries Limited. The meeting is held through video conferencing. Requisite quorum is present, so I call the meeting to order. I introduce my colleagues on the board: Dr. Sumit Banerji, Srimati Arundhati Bhattacharya, His Excellency Yasir Al Rumayyan, Shri K.V. Chowdary, Shri K.V. Kamath, Shri Haigrive Khaitan, Shri Dinesh Kanabar, Shri Nikhil Meswani, Shri Hital Meswani, Shri P.M.S. Prasad, Shri Anant Ambani, Shrimati Isha Ambani Piramal, and Shri Akash Ambani. All directors are present. Also present are the CFO, Company Secretary, and representatives of auditors. The notice and annual report have been circulated. The auditor's report contains no qualifications. Now I begin my formal address. My dear shareholders, Namaste. On behalf of the Reliance family, I congratulate our Prime Minister, Shri Narendra Modi Ji, on becoming the longest-serving elected Prime Minister of India. He will complete 25 uninterrupted years in public office. His vision has been instrumental in India's growth. The past 6 years have been volatile due to COVID-19, geopolitical conflicts, energy disruptions, and supply chain fragmentation. But tough times never last—tough nations do. India has handled the situation with competence. I am confident India will emerge stronger as a balancer and promoter of peace. The most important lesson is that we must intensify efforts to make India Atmanirbhar in critical resources and technologies, especially energy and AI self-sufficiency. Reliance is playing a leading role. We are investing heavily in innovation. According to WIPO, Jio Platforms jumped from rank 340 to 20 in patent velocity, above several global tech giants. Jio completes 10 years of stellar success; Reliance Retail completes 20 years. Both are number one. Our founder, Shri Dhirubhai Ambani, taught us that behind every obstacle is an opportunity. Reliance posted record high revenue of ₹11,75,919 crores, up 9.8% YoY; EBITDA of ₹2,07,911 crores, doubled from 5 years ago; net profit of ₹95,754 crores, up 17.8%. Capex stood at ₹1,44,271 crores, and over 5 years ₹6,48,428 crores, more than any other Indian company. Exports were ₹2,78,808 crores, 6.7% of India's merchandise exports. We contributed ₹2,16,472 crores to the exchequer, cumulative over ₹9,78,000 crores. CSR expenditure was ₹2,248 crores, the highest by any Indian company. Our credit ratings improved to A- by S&P and Baa1 by Moody's. We are among the largest employers. With great delight, I announce that the board of Jio Platforms has approved the draft red herring prospectus, and it will be filed with SEBI today. This is a deeply emotional moment. The relationship with shareholders is sacred, and Isha, Akash, and Anant are leading the Jio IPO process. The proposed listing will demonstrate India can build global technology companies. Ten years ago, Jio began to remove digital inequality. Now, Jio is preparing for its next mission: AI. India must become a creator and global leader in AI. We announced Reliance Intelligence last year. Our objective is to build a profitable AI infrastructure, platform, and services business. We are partnering with Google, Meta, and Nvidia. Now we enter the execution phase. A decade ago, Jio promised broadband connectivity to everyone; we delivered. Today, Reliance Intelligence promises AI to everyone, everywhere. We shall deliver. The Jio revolution is a result of young Indian engineers. They built original technology. Reliance Intelligence offers even bigger opportunities. I invite Akash Ambani, Managing Director of Jio Platforms, to tell you about the spectacular progress and future.