Mukesh Ambani on economic power
From Shri. Mukesh Ambani at PDEU Convocation | The Promise Made to PM Modi That Built PDEU · · Reliance Updates
“History shows that countries become true economic powers only when they are strong in science and technology. History also shows that nations lead in science and technology only when they have world-class universities.”
On , Mukesh Ambani, Chairman & Managing Director at Reliance Industries, spoke about economic power during Shri. Mukesh Ambani at PDEU Convocation | The Promise Made to PM Modi That Built PDEU on Reliance Updates.
About Mukesh Ambani
During Reliance Industries' Q4 FY26 earnings conference call on April 29, 2026, Mukesh Ambani described the macroeconomic environment as "totally unprecedented," noting that Dubai crude surged to $168 per barrel and LNG prices rose to about $27 per mmBtu. He cited a supply shock impacting industry and consumer confidence, along with rupee depreciation of 11% for the year and 4% in March, as areas of concern. Ambani also mentioned that insurance premiums for shipping had risen from a few thousand dollars to as high as $65,000 or more due to the warlike situation. Ambani stated that Reliance had secured crude cargoes from diverse sources including Venezuela, Russia, Brazil, and Mexico, leveraging its ability to process over 200 grades of crude. He highlighted the signing of what he called "one of the world's largest green ammonia supply contracts" with Samsung CND, and said the government had formed a joint working group to ensure critical sectors are not starved of feedstocks, with exceptions being made from the LPG control order. For the company's telecom business, Ambani identified priority areas as gaining market share in mobility, home services, and enterprises, as well as scaling up recently launched digital services.