Mukesh Ambani, Chariman and Managing Director, Reliance Industries Limited
Having crossed the 500 million customer milestone in August 2025, Reliance Jio continues to redefine India’s digital landscape through cutting-edge technology and ambitious expansion plans. The company has also announced plans for an initial public offering (IPO) in the first half of 2026, alongside major artificial intelligence (AI) initiatives and strategic partnerships. Jio has established itself as a deep-tech company with a proprietary technology stack designed, developed and deployed entirely in India. The telco is now positioning itself at the forefront of India’s AI revolution with the announcement of Reliance Intelligence, a new wholly owned subsidiary, along with strategic partnerships with Google and Meta. At the 48th Annual General Meeting of Reliance Industries Limited, Mukesh Ambani, Chairman, highlighted Jio’s growth milestones and key focus areas. Edited excerpts from his speech…
Jio has entered its tenth year of service to the nation. We are proud to share with you that the Jio family has crossed 500 million customers. Jio was conceived at a time when India’s road to digital transformation was blocked. Prohibitive data prices, poor connectivity and poorer speeds had stifled the digital aspirations of Indians. That is when we said, “This must end”, and Jio ended India’s digital poverty within a few years.
Jio’s bold deep-tech initiatives sparked India’s technological revolution and became the backbone of our prime minister’s Digital India Mission.
Five major achievements of Jio, which were previously unimaginable, are: First, Jio made voice calls free from anywhere to everywhere in India. Second, Jio made it a habit for common Indians to watch videos on their mobiles and do digital payments, also through mobiles. Third, Jio laid the foundation for India’s Digital Public Infrastructure – Aadhaar, UPI, Jan Dhan and direct bank transfers – empowering a confident new generation. Fourth, Jio enabled the creation of the world’s third-largest start-up ecosystem in India comprising over 100 unicorns. Finally, Jio’s nationwide 5G roll-out, the fastest in the world, has laid the foundation for the AI revolution in India.
As a result of these achievements, Jio’s financial performance has been scaling new heights with every passing year. Jio’s revenue was Rs 1.28 trillion ($15 billion) in financial year 2024-25, a 17 per cent year-on-year growth, while earnings before interest, taxes, depreciation and amortisation stood at Rs 641.7 billion ($7.5 billion). These figures are a testimony to the enormous value Jio has already created, and to the even greater value it is destined to create. Today, it our proud privilege to announce that Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals.
Jio’s plans are even more ambitious, based on the motto “AI Everywhere for Everyone”. They rest on five assurances: Jio will connect every Indian on mobile and home broadband. It will equip every Indian home with digital services such as Jio Smart Home, JioTV+, Jio TV OS and seamless automation. The telco will digitalise every Indian business and enterprise with simple, scalable and secure platforms. Further, Jio will herald the AI revolution in India. Finally, Jio will expand its operations outside India, taking our home-grown technology to people around the world.
Today, Jio carries the largest wireless data traffic in the world. India’s next digital leap and Jio’s next growth engine will come from businesses, both large and small. Jio is building simple, scalable and secure platforms for MSMEs and enterprises alike. From franchisee management to AI-powered solutions across verticals, we are enabling every business to compete globally. This is not just digitalisation; it is the democratisation of enterprise-grade technology.
Jio’s transformation into a deep-tech company is now unmistakable. From developing our very own 5G core, to rolling out the world’s fastest 5G services, and now deploying our global-first home connect technology, we have cemented our place as a deep-tech company.
AI-powered innovation
At the heart of all our offerings is our customer. At Jio, customer service is not a department; it is a promise. We are redesigning every touchpoint to delight the user and not just serve them. Whether it is discovering, buying, using, or resolving issues, our systems are now event-driven and application programming interface-enabled, with generative AI (GenAI) at the forefront.
As we look ahead, Jio’s journey will progress beyond India. Our innovative technologies will now be deployed globally, ready to solve global challenges. With strategic partnerships and a clear road map, we will take Jio’s services to the rest of the world, creating value for partners and shareholders alike.
Reliance Intelligence
We are proud that AI is already at the heart of Reliance’s transformation into a deep-tech enterprise. To bring even more focus and speed to this agenda, today, it is our great pleasure and privilege to announce the formation of a new wholly owned subsidiary, Reliance Intelligence.
This new company is conceived with four clear missions:
To house India’s next-generation AI infrastructure: Reliance Intelligence will build gigawatt-scale, AI-ready data centres, powered by green energy and engineered for training and inference at a national scale. Work has already begun on the gigawatt-scale, AI-ready data centres in Jamnagar.
To house global partnerships: Reliance Intelligence will bring the world’s best tech companies and open-source communities together with Reliance’s deep-domain expertise and execution strength to deliver performance leadership, resilient supply and India-first compliance for AI.
To build AI services for India: Reliance Intelligence will deliver trusted, easy-to-use AI services for consumers, small businesses and enterprises, and solutions for sectors of national importance such as education, healthcare and agriculture.
To house talent for AI: Reliance Intelligence will create a home for world-class researchers, engineers, designers and product builders, combining the speed of research with the rigour of engineering, so that ideas become innovations and applications, providing solutions to India and the world.
Strategic partnerships
We are delighted to announce a deeper, holistic partnership for AI with our long-standing partner, Google. Through this partnership, we are marrying Reliance’s proven capability to build world-class assets and execute at India’s scale with Google’s leading cloud and AI technologies, so that developers, start-ups and enterprises can innovate faster, operate more securely and reach every corner of India.
We are also pleased to unveil a new, India-focused AI joint venture with our close partner, Meta. Together, we aim to pair the power of open-source AI with Reliance’s deep domain knowledge across industries. That is why we are forming a dedicated joint venture with Meta to combine open models and tools with our execution in energy, retail, telecom, media and manufacturing, and to deliver sovereign, enterprise-ready AI for India. The joint venture will bring transparency, portability and community-driven progress; enable sovereign hosting and governance within India; and lower inference costs while raising safety and trust, so that adoption accelerates from pilot to production across the economy.
Another exciting frontier for AI is robotics, especially humanoid robotics. Astonishing advances are taking place in this field. Intelligent automation will transform factories into adaptive production systems, warehouses into autonomous supply chains, and hospitals into centres of precision care. We are investing to make India a leader in human-centric robotics powered by AI, creating new types of industries and services, new types of agriculture, new types of jobs, and attractive new opportunities for our youth.
A decade ago, digital services became a new growth engine for Reliance. Today, the opportunity before us with AI is just as large, if not larger. Jio promised and delivered digital everywhere and for every Indian. Similarly, Reliance Intelligence promises to deliver AI everywhere, for every Indian. With Reliance Intelligence, our strong partnerships, green infrastructure and India-first governance, we are building for the next decade with confidence and ambition.
