Ambani drew parallels with PM Narendra Modi's concept of an unstoppable India. He highlighted that this India remains steadfast and strong, citing the success of Chandrayaan 3 as a testament to this spirit. Below is a concise overview of the significant declarations made during the event.
Jio Bharat Launch
- Mukesh Ambani announced the introduction of the affordable Jio Bharat smartphone at just Rs 999.
- The smartphone users can enjoy services like live TV, stream videos and music, digital photography, and UPI payments through JioPay.
- The smartphone will offer unlimited calls, enhancing connectivity and communication for users.
- Akash Ambani, Chairman of Reliance Jio said JioBharat is a gateway to digital independence for 2G users who can't afford smartphones.
- Jio AirFiber will be launched on the occasion of Ganesh Chaturthi, September 19.
- The telco aims to extend its reach to 100 million homes with Jio AirFiber, which offers fiber-like experience through 5G tech.
- Ambai said this will provide the last-mile connectivity to untouched areas.
- JioHome is a mobile app that enables you to navigate on your television connected to the Jio Set-top Box. It also includes a soft gamepad for playing on the JioGames app, a built-in media player, and a network manager. It’s an all-in-one app for your smart home!
- You can use it as a Set-top Box remote or gaming controller, browse channels and apps, play JioGames, view your photos and videos, listen music.
- You can also upload and download files from your phone to connected devices and vice versa.
- Mukesh Ambani confirmed that he will continue as Chairman and Managing Director for the upcoming five years.
- Concurrently, Nita Ambani announced her resignation from her position, with her focus shifting to the operations of the Reliance Foundation.
- Isha, Akash, and Anant join the company's board.
- Ambani highlighted four significant frontiers that Reliance Industries is venturing into. "Four frontiers-consumer segment powered by Jio 5G and JioBharat, home segment turbocharged by airfiber, business segment with large untapped potential, Jio platforms for global expansion," he said.
- India has data, India has information, but we also need AI with this RIL will generate 200 Mega Watt AI-generated cloud storage, said Mukesh Ambani.
- Seven years ago, Jio promised broadband connectivity to everyone, everywhere. We have delivered. Today Jio promises AI to everyone, everywhere. And we shall deliver, he said.
- Reliance retail only Indian retail in global top 100
- Ambani welcomed the Qatar Investment Authority as a valued investor in Reliance Retail, who invested $ 1 billion for an 1% equity stake. This investment values Reliance Retail at Rs 8.28 lakh crore.
- Reliance Retail posted revenue of Rs 2.6 lakh crore, EBITDA Rs 17,928 cr and net profit of Rs 9,181 cr in FY23.
- FY23 a landmark year: We crossed 100 crore transactions, received over 78 crore footfalls, registered customers grew to 25 crore, said Isha Ambani.
- Digital and New Commerce sales contributed ~Rs 50,000 crore, accounting for a fifth of revenues. We have invested over $10 billion in the last 2 years.
- We opened 3,300+ new stores last year, taking the total to 18,040, covering 6.56 cr sq.ft. Two-thirds of these stores are in Tier II, III and smaller towns, Isha said.
- Isha said Reliance Retail is one of the largest employers in the country, with nearly 2.5 lakh on-roll employees.
- Isha said that one of the core strategies is to modernise traditional Indian brands while preserving their original promise. Brands like Campa Cola, Sosyo, and Lotus were acquired and revitalised.
- We plan to scale up Campa-Cola in India and introduce it globally, starting with Asia and Africa.
- Collaborated with brands like General Mills for Bugles and Maliban for biscuits.
- The New Commerce business witnessed remarkable growth.
- JioMart's platform now includes popular brands like Trends, Hamleys, and Urban Ladder. The non-grocery category's contribution has seen consistent growth.
- JioMart's launch on WhatsApp proved highly successful, with a 9X growth in JioMart customers since its 2022 debut, Isha added.
- Jio Financial Services will enter the insurance sector, announced Mukesh Ambani.
- JFS and US-based Blackrock to form a 50:50 joint venture to create an asset management business called Jio BlackRock.
- Both companies to target growing mutual funds market in India.
- Jio Financial Services was recently listed on the stock exchanges on August 21.
- JFS products will introduce features like blockchain-based platforms and Central Bank Digital Currency.
- "Gas is a key transition fuel in our nation’s quest for clean and sustainable energy," Ambani said.
- Reliance and BP have revived gas production from KGD6 Block from near zero a few years back to about 20 million standard cubic meters per day (MMSCMD) in FY23.
- Plans to enhance production to 30 MMSCMD, which will be 30% of India’s gas production and 15% of its current gas demand, Ambani said.
- To explore further in KGUDW1 and KGUDW2 blocks in the Krishna-Godavari Basin with an aim to sustain gas production over the next 15-20 years," Ambani said.
- O2C EBITDA for FY23 improved by 17.7% to a record high of Rs 62,075 crore.
- Reliance executing India’s first and world-class Carbon Fibre facility in Hazira, Gujarat.
- Carbon Fibre platform to include Carbon Fibre and Carbon Fibre Reinforced Plastics.
- Reliance’s consolidated revenues stood at Rs 9,74,864 crore in FY23.
- EBITDA: Rs 1,53,920 crore
- Net profit: Rs 73,670 crore.
- Exports jumped 33.4% to Rs 3.4 lakh crore. We accounted for over 9.3% of India’s merchandise exports, up from 8.4% last year," chairman Mukesh Ambani said.
- In FY '23, Reliance’s contribution to the national exchequer stood at Rs 1,77,173 crore, including Rs 16,639 rise in Direct and Indirect taxes.
- Reliance also made the highest CSR spending of Rs 1,271 crore.
- Reliance created record employment of 2.6 lakh jobs during the year. The total number of on-roll employees is nearly 3.9 lakh," Ambani said.
- Jio surpassed 450 million subscribers.
- Per-user data rose significantly. Average consumer consuming 20 GB data per month.
- 85% of the total operational 5G cells are from Jio.
- Jio adding one 5G cell every 10 seconds, has 50 million 5G customers.
- Jio to deploy one million 5G cells across India by December 2023.
- Reliance to set up battery giga factory by 2026 to manufacture battery chemicals and cells to provide containerised energy storage solutions. It will include a battery recycling facility," Ambani announced.
- Reliance may spend Rs 60,000 crore over the next three years to construct four ‘giga factories’.
- Additionally, Rs 15,000 crore to be spent on value chain, and partnerships.
- To establish 100 compressed biogas plants in 5 years.
Solar and wind energy storage integrated manufacturing ecosystem will deliver the most cost-efficient renewable power. "I can also confidently now say that we have a roadmap towards achieving our targeted cost of electrolysers, and in turn, Green Hydrogen," Ambani said.
Reliance Foundation
- Dhirubhai Ambani International School continues to be amongst the Top IB Schools globally, and the No. 1 International School in India for ten consecutive years.
- Reliance to open new school, the Nita Junior School.
- Reliance to support 50,000 students through Reliance Foundation Undergraduate and Postgraduate Scholarships over the next 10 years.
- 5100 scholarships awarded this year.
- Education and Sports for All programme has so far reached out to 22 million youngsters.
- Reliance Foundation athletes won a total of 139 Medals at the International and National level.
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