Mukesh Ambani, Chairman and Managing Director of Reliance Industries, disclosed several significant measures and modifications at the Annual General Meeting (AGM) held on August 28, 2023. He mentioned India’s economic progress and emphasised that the “New Reliance” is leading the way for an evolving India. He highlighted robust growth across all Reliance’s business sectors, including Jio and Reliance Retail. Also, he made big announcements about the reliance board members and Jio Airfiber. Now, the two biggest announcements of this year were:
Reliance Industries, India’s largest private sector corporation, has undergone a significant change under the leadership of Mukesh Ambani. In an effort to involve his family more deeply in the company’s operations, Ambani has appointed his three children – Isha, Akash, and Anant – to the board of directors. Previously, the children had only been involved in the day-to-day running of the business. The board met and approved the appointment of Isha and Akash, as well as Anant, as “non-executive directors of the company” in advance of the annual general meeting of Reliance. Additionally, Nita Ambani, who previously served as a board director, has stepped down from her position in the company.
The Second announcement was the launch of Jio AirFiber on September 19. Ambani expressed confidence in the potential of artificial intelligence and pledged to democratise this cutting-edge technology to make it accessible to a wide audience. He also discussed Jio Financial Services, the newly established financial arm of Reliance Industries Limited, noting its purpose as a catalyst for replicating India’s remarkable growth narrative across the country.