10 takeaways from Reliance’s AGM: 5G launch by Diwali, succession plan, Rs 75k crore investment in petchem & more

Let’s take a look at the 10 key takeaways from the AGM:

5G Rollout in Metros by Diwali

Ambani announced a Rs 2 lakh crore investment plan in deploying 5G telephony with a rollout in metro cities by Diwali. He said 5G services would be launched across multiple key cities including Mumbai, Delhi, Chennai & Kolkata by Diwali. Subsequently, the company aims to connect every town, taluka, and tehsil by December 2023.
Jio, India’s largest telecom operator, has deployed a standalone 5G stack rather than upgrading the existing 4G network, to offer ultra-high speed internet, he said.

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Reliance to invest Rs 2 lakh crore to roll out 5G services by October across key cities

Leadership Transition Roadmap

Ambani laid out a clear roadmap that gives an idea of how the conglomerate will be divided among two sons Akash and Anant, and daughter Isha.

Talking about succession, the 65-year-old tycoon said that the Akash and Isha have taken leadership roles at the telecom and retail businesses while younger son Anant has joined the new energy business and is being groomed for a leadership role.

“Our next-gen leaders are confidently taking over the reins across businesses. Akash and Isha have assumed leadership roles in Jio and Retail respectively. Anant has also joined our New Energy business with great zeal,” said Mukesh Ambani.

At the AGM today, Ambani introduced daughter Isha as the leader of the conglomerate’s retail business. Ambani had earlier named son Akash Ambani as the chairman of the group’s telecom arm, Reliance Jio.

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Reliance Industries chairman Mukesh Ambani lays out leadership transition roadmap

Foray into FMCG Business

Isha Ambani, director of Reliance Retail

, said today that India’s conglomerate behemoth Reliance Industries will this year launch its fast-moving consumer goods business.

Reliance will launch its FMCG business, with an objective to develop and deliver high-quality, affordable products which will solve every Indian’s daily needs, Ambani said at

‘s 45th annual general meeting.

“We will soon start marketing quality goods produced by tribals and other marginalised communities across India,” she said.

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Reliance to launch FMCG business this year, Isha Ambani says

Rs 75,000 cr Investment for Petchem Expansion

Ambani announced an investment for Rs 75,000 crore in the next five years in the petrochemical business.

On the occasion of the 45th AGM, Ambani said that the new investments will be in setting up a PTA plant, expanding polyester capacity, tripling capacity of vinyl chain and a chemical unit in UAE.

The announcement signifies the Reliance’s commitment to the O2C business at a time when the focus of the group has been on the diversification in telecom, retail and new energy.

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In commitment to O2C business, Reliance to invest Rs 75,000 cr in petchem expansion

JioAirFiber hotspot

Reliance JIO chairman Akash Ambani announced JioAirfiber, a wifi hotspot that will allow consumers to access fiber-like speeds at homes and offices.

With a single device, it will be real easy to quickly connect any home or office to Gigabit-speed internet without any wires .

This will allow connecting of millions of homes and offices to ultra-high-speed broadband in a very short period. With it, India can rank among the Top-10 nations, even for fixed broadband.

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Akash Ambani announces launch of JioAirFiber hotspot that delivers fiber-like speeds

Gigafactory for Power Electronics

Mukesh Ambani announced the setting up of a new gigafactory for power electronics.

“One of the key components linking the entire valley of green energy is affordable and reliable power electronics. We are building significant capabilities in the design and manufacture of power electronics and software systems,” he announced. The company intends to build it through partnerships with global players to provide affordable solutions.

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Reliance AGM: Gigafactory for power electronics

New Energy

“We are well on our way to creating a manufacturing ecosystem which will be fully integrated with secure and self-sufficient supply chains. It will deliver modular, at scale and the most affordable modern green energy manufacturing business based in India, for India and for the world,” Mukesh Ambani said when talking about the company’s new energy business.

Reliance aims to progressively commence its transition from grey hydrogen to green hydrogen by 2025, after proving its cost and performance targets.

“We are also actively progressing on bioenergy, offshore winds and other non-conventional forms of renewable energy and will continue to expand our manufacturing ecosystem,” he added.

Battery Packs

Reliance also aims to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell to pack manufacturing facility by 2024, and further scale up to 50 GWh annual capacity by 2027, Ambani announced.

Shop from Reliance JioMart via WhatsApp

Isha Ambani on Monday at the company’s 45th AGM announced that consumers will be able to browse and purchase groceries and other household products on Meta-owned WhatsApp.

WhatsApp unveiled the new tool alongside JioMart, part of

.’s Jio Platform. The new feature lets users shop for products from JioMart, and pay for them directly within the app. People could previously browse products via WhatsApp but had to leave the service to finish the transaction.

Meta invested almost $6 billion in early 2020 in Jio Platforms.

Having a full-blown shopping experience inside WhatsApp has been a longtime goal of Meta Chief Executive Officer Mark Zuckerberg.

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You can now shop from Reliance JioMart via WhatsApp

India Beacon of Growth and Stability

Ambani on Monday said India stands as a beacon of growth and stability amid widespread unpredictability in the world.

“Amidst this widespread unpredictability, India stands tall as a beacon of growth and stability. The Government’s skilful management of the pandemic, and pragmatic approach in dealing with the ensuing economic challenges, have helped India,” said Ambani during RIL’s 45th Annual General Meeting.

Talking about economic stress, he said that the world is facing severe economic stress.

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Mukesh Ambani calls India beacon of growth, stability