Reliance Will Grow To Be Among Top 10 Business Conglomerates Globally: Mukesh Ambani

Sharing his key three messages for the New Year, Ambani said the company plans to strengthen its place globally in digital data platforms and AI adoption, talent enrichment, and institutional culture.

Reliance Industries Ltd will never be complacent and will grow to be among the top 10 business conglomerates in the world, the group head, Mukesh Ambani, said on Thursday, while addressing the company’s employees on the occasion of Reliance Family Day, celebrated to mark the birthday of the group’s founder, Dhirubhai Ambani. 

Reliance now aims to strengthen its place among global leaders in digital data platforms and AI adoption, Ambani said in his address, reported PTI. “Today, the domestic and global environments for business are changing very fast. There is simply no room for complacency. Reliance was never complacent in the past, and Reliance will never be complacent in future. Reliance is known for disrupting the market through constant innovation and reinvention,” the conglomerate’s head added. 

Ambani stated that today Reliance is developing giga-scale factories for new energy businesses and has entered into financial services. He noted that the group has exhibited courage to set a high standard for itself and has therefore managed to achieve ‘perennial’ growth.

The billionaire added that as India moves ahead to become the third largest economy globally, ‘Reliance can and will grow to be among the top 10 business conglomerates in the world’. Ambani, however, didn’t set any timelines for the same. 

The company head urged employees to ensure that the firm’s actions always win community trust. “When all our businesses grow exponentially, we can contribute more to India's inclusive prosperity, and make the world a better place,” he added. 

Sharing his key three messages for the New Year, Ambani said the company plans to strengthen its place globally in digital data platforms and AI adoption, talent enrichment, and institutional culture. Regarding data platforms, he noted that Reliance needs to ‘boldly embrace data and AI’ to improve its decision-making and resource utilisation. “In the era of digital platforms, data has become a new factor of production along with talent and money. We need to be at the forefront of using data, with AI as an enabler for achieving a quantum jump in productivity and efficiency. All growth engines of Reliance -- digital services, green and bio-energy, retail and consumer brands, oil-to-chemicals (O2C) and materials business, and health and life sciences -- will have to complete this transformation by next year,” he said. 

The Reliance group’s chairman and managing director urged the firm to increase its efforts to become a leader in developing AI to address the country’s national priorities in education, healthcare, agriculture, and employment creation. He added that for Reliance to become an AI-immersive tech firm, it needs to develop the required talent, skill sets, and competencies at all levels within the organisation. “Investment in talent brings higher returns than investment in machines,” he added. 

Regarding the institutional culture, the CEO said that the most important aspect of the conglomerate’s culture is to work with the founder’s mindset. “It means working with the ownership mindset. Each and everyone of you becomes an owner of Reliance when you own the founder's purpose and passion,” he explained. 

Ambani stressed that to ensure that Reliance remains forever young, the average age of all teams should remain in the 30s. “The future of Reliance belongs to Akash, Isha, Anant, and their generation,” he concluded, referring to his three children.