Mukesh Ambani0:00
Ash, I can see the passion, dedication, and hard work you and your team are putting into this mission. When work is done with such devotion, hard work becomes heart work. I'm confident that this heart work will make Jio's second decade even more scintillating, more purposeful, and more transformational. As Jio enters its next decade, our aim is to build one of the world's leading digital infrastructure and AI platforms while creating enduring value for all shareholders. Dear share owners, when Dhirubhai Ambani took Reliance public in 1977, he made an unspoken promise to all Indians: the promise that Reliance will always build for the people, not merely for profit. 20 years ago, we renewed that vow in the most direct and personal way possible. We walked into the lives of every Indian family and said, 'You deserve products of better quality, better choice, better value with consistent innovation across offline and online channels every single day.' And that was the founding philosophy of our retail business. In November 2006, we opened our first Reliance Fresh store in Hyderabad. What followed is one of the most extraordinary growth stories in the history of global retail. Within 5 years, we had crossed 1,000 stores and a billion dollars in annual sales. Within 8 years, we became India's largest retailer. And in the fourth quarter of the financial year 26, we crossed 20,000 stores, a scale no retailer in Asia has achieved in such a short time. Looking back, I see three distinct chapters. First, the launch era, building from nothing, store by store, town by town, earning the trust of Indian consumers one transaction at a time. Second, the expansion era, integrating the physical might of our stores with the digital heartbeat of India. Reliance Retail became an omni-channel retail ecosystem. Through JioMart and Ajio, we brought the store to the smartphone and the convenience of modern retail to every PIN code in this country. And now, the deep tech intelligence era. Our unmatched deep tech capabilities, coupled with our unparalleled digital reach, have been one of the principal accelerators of our retail business. We leverage AI and deep tech to operate with precision and efficiency. Moreover, our deep understanding of Indian consumers and wealth of data enable us to offer the very best products and services. Friends, Indian retail is evolving faster than ever. From the corner store to the smartphone, from a single basket to a daily habit, Reliance Retail has been at the forefront of this evolution. It is the trust of Indian consumers which has placed us among the global top 50 retailers, and we remain the only Indian retailer to achieve that distinction. Reliance Retail is now poised for another great leap forward. Between Reliance Retail and RCPL, we will add two powerful growth-boosting platforms. First, an advanced manufacturing platform. We are building a manufacturing platform extending from beverages and daily essentials to one of the most unorganized categories, fresh fruits and vegetables. This category is in urgent need of waste reduction, hygiene promotion, and higher safety standards. We will modernize this by bringing our sourcing, cold chain, and distribution strength to fresh produce. This will give farmers fairer returns, shopkeepers dependable supply, and every family fresher food at fairer prices. We are also building a future-ready garment manufacturing system. This will deliver better quality garments to our customers at the most competitive cost. We have created supplier partnerships in 21 pan-India clusters where these garments will be manufactured. We will also do the same for affordable electronics from smart eyewear to television, smartphones, and connected wearables with a continued focus on superior customer service. Second, an exports platform. Our exports platform is a logical extension of our manufacturing platform in retail. The rapid growth in our consumer brands business in India has given us the confidence to build a strong and scalable global FMCG business. Our export journey reflects the growing strength of our brands, our competitive product portfolio, and our ability to serve diverse consumer needs across global markets. Let me now invite Isha Ambani, Executive Director, Reliance Retail, to address us.
