44th Annual General Meeting (Post-IPO) of Reliance Industries Limited (RIL) begins…
#RILAGM #MadeForIndiaMadeInIndia
2/n Shri Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, welcomes all the shareholders to the company’s 44th Annual General Meeting
#RILAGM #MadeForIndiaMadeInIndia
3/n Mukesh Ambani, Nita Ambani and directors on RIL’s Board offer condolences to all those in the Reliance Family who have lost their loved ones to this pandemic by observing a minute of silence in memory of the departed souls
#RILAGM #MadeForIndiaMadeInIndia
4/n Our business and financial success since last AGM have exceeded expectations. But what has given me far greater happiness than our business performance is RIL’s humanitarian efforts during these exceedingly difficult times: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
5/n Throughout the COVID crisis, our Reliance Family has risen to the occasion with a sense of purpose and national duty. I am sure our efforts of the last one year would have made our Founding Chairman, Shri Dhirubhai Ambani, proud: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
6/n The spirit of care and empathy is the common thread across everything we do at Reliance. We care for our employees, their families; our customers, shareholders, and partners; the country and community; the planet and the people: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
7/n Had our grandfather been with us today, he would be proud. This is the Reliance he always wanted to see, where each person did their best to help those in need, and be in service of our communities and our country: Isha Ambani
#RILAGM #MadeForIndiaMadeInIndia
8/n Members of Reliance family ensured our nation’s fuel supplies are intact, digital connectivity is unaffected, and daily essential needs of millions are met safely. We are indebted to them for their service to humanity: Akash Ambani
#RILAGM #MadeForIndiaMadeInIndia
9/n Our salute to countless members of our Reliance family, who have placed their country first, community next, family third, and self last in this hour of need. They are our real-life super-heroes: Isha Ambani
#RILAGM #MadeForIndiaMadeInIndia
10/n The COVID-19 pandemic is a humanitarian crisis. It has tested the very spirit of humanity. But even in the darkest hour, our spirit has shone bright. We as a people have come together, and fought this battle: Nita Ambani
#RILAGM #MadeForIndiaMadeInIndia @Ril_Foundation
11/n While our top priority was COVID relief, all our other developmental work continued. We remained committed to Education and Sport for All. We also worked hard to bring our dream project — Jio Institute — to life: Nita Ambani
#RILAGM #MadeForIndiaMadeInIndia @Ril_Foundation
12/n Despite the challenges posed by the pandemic, I am pleased to announce that Jio Institute is all set to commence academic sessions at their campus in Navi Mumbai this year itself: Nita Ambani
#RILAGM #MadeForIndiaMadeInIndia @Ril_Foundation
13/n Our football league ISL became the first, the longest, and the biggest sporting event to be held in India with complete safety protocols, during the pandemic, with over 1600 people in 18 different bio-bubbles: Nita Ambani
#RILAGM #MadeForIndiaMadeInIndia @Ril_Foundation
14/n On Women’s Day in March this year, we launched a digital movement for women called Her Circle, which is an inclusive, collaborative, interactive, and socially-conscious digital platform: Nita Ambani
#RILAGM #MadeForIndiaMadeInIndia @Ril_Foundation
15/n Reliance Foundation also partnered with USAID to launch the Women Connect India Challenge this year. A partnership that aims to empower more and more Indian women with digital access and opportunity: Nita Ambani
#RILAGM #MadeForIndiaMadeInIndia @Ril_Foundation
16/n Reliance Foundation launched five Missions to fight COVID — Mission Oxygen, Mission COVID Infra, Mission Anna Seva, Mission Employee Care, and Mission Vaccine Suraksha: Nita Ambani
#RILAGM #MadeForIndiaMadeInIndia @Ril_Foundation
17/n RIL’s Mission Vaccine Suraksha is one of India’s largest corporate vaccination drives, to vaccinate 20 lakh of our Family, including retired employees, partner company employees, and their families free of cost: Nita Ambani
#RILAGM #MadeForIndiaMadeInIndia @Ril_Foundation
18/n I assure you that in every challenge that India faces, Reliance Foundation has and will continue to stand with every Indian. Together, we shall overcome as we always have: Nita Ambani
#RILAGM #MadeForIndiaMadeInIndia @Ril_Foundation
19/n Even in a challenging environment, RIL’s performance continued to be outstanding; Consolidated revenue was ~ ₹540,000 cr, consolidated EBITDA was ~₹ 98,000 cr, and almost 50% of EBITDA was contributed by consumer businesses: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
20/n As India’s largest enterprise, RIL’s contribution to Indian economy remains unmatched — 6.8% of India’s merchandise exports, 75,000 new jobs, ₹21,044 cr of customs + excise, ₹85,306 cr of GST + VAT, and ₹3,213 cr of Income Tax: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
21/n RIL raised $44.4bn — largest ever capital raise by any company in a year globally. This capital raise is a strong vote of confidence by global investors in India’s growth potential: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
22/n We rewarded the shareholders with the largest and the most successful Rights Issue ever by an Indian company. Our retail shareholders have made 4x returns in just one year on their rights shares: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
23/n Reliance Jio had net addition of 37.9 million subscribers during the year. We now serve over 425 million consumers on our network. We have revenue market leadership in 19 out of 22 circles: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
24/n Reliance Retail continues to be the undisputed leader in organised retailing in the country, with scale that is more than 6 times the next competitor. We are by far the leader in each category — grocery, electronics and apparel: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
25/n Our O2C biz faced unprecedented challenges by severe economic contraction at the beginning of year. Yet we were probably the only company globally that operated at near full capacity and was profitable in every quarter: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
26/n Continued engagement and resolve from both sides, even during this pandemic, is a testimony of strong relationship between Saudi Aramco and Reliance. I expect our partnership to be formalised in an expeditious manner this year: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
27/n bp and Reliance commenced production in KGD6 basin. Our JV brought two of our three toughest deep water gas projects to production. This has been accomplished in record time and set a new global benchmark for capital costs: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
28/n I welcome H.E. Yasir Al-Rumayyan, Chairman of Saudi Aramco and Governor of PIF, to join the Board of Reliance Industries as Independent Director. His joining our Board is also the beginning of internationalisation of Reliance: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
29/n Last year I had announced our 15-year commitment to become net carbon zero by 2035. Today I am happy to present to you our ambitious strategy and roadmap for implementing this vision: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
30/n The global New Energy agenda needs to move from dialogue to action, from commitment to urgent implementation on the ground. It is not enough to be carbon neutral; the world needs to achieve absolute reductions in emissions soon: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
31/n India’s GDP per capita is ~$2,000 while the world average is ~$12,000. India’s power consumption per capita is only one third of global consumption. This Wealth Disparity and Energy Disparity is unacceptable: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
32/n Today I would like to make three affirmations. First: As one of the biggest energy markets in the world, India will play a leading role in transforming the global energy landscape: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
33/n Second: As a company always focused on growing businesses of the future, Reliance will provide leadership on the combined strength of our balance-sheet, talent, technology and proven project execution capabilities: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
34/n Third: Reliance will make its New Energy business a truly global business: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
35/n In 2016, we launched Jio with the aim of bridging the Digital Divide in India. Now, in 2021, we are launching our new energy business with the aim of bridging the green energy divide in India and globally: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
36/n World-class talent will be the most critical resource for this new business. We have started attracting the best talent from across world. We have established Reliance New Energy Council with some of the finest minds globally: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
37/n We have started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar. It will be amongst the largest such integrated renewable energy manufacturing facilities in the world: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
38/n Jamnagar was the cradle of our old energy business. Jamnagar will also be the cradle of our new energy business: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
39/n We plan to build four Giga Factories to manufacture and integrate all critical components of New Energy ecosystem — solar photovoltaic module factory, energy storage battery factory, electrolyser factory, fuel cell factory: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
40/n Reliance will thus create and offer a fully integrated, end-to-end renewables energy eco-system. Over the next 3 years we will invest over Rs 60,000 crore in these initiatives: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
41/n We will invest an additional Rs 15,000 cr in value chain, partnerships and future technologies, including upstream and downstream industries. Thus, our overall investment in New Energy business will be Rs 75,000 cr in 3 years: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
42/n We will build two additional divisions to further strengthen this ecosystem. First, a dedicated Renewable Energy Project Management and Construction Division. Second, a dedicated Renewable Energy Project Finance Division: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
43/n With these new initiatives, Reliance will put Gujarat and India on world solar and hydrogen map. All our products will proudly proclaim ‘Made in India, by India, for India and for the world’: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
44/n Reliance is also evolving a vision for New Materials and Green Chemicals. We will kickstart this by strategically investing in India’s first world-scale carbon fiber plant for supporting our hydrogen and solar ecosystems: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
45/n We will transform our legacy business into sustainable, circular and net zero carbon materials business. We will do this by repurposing our existing assets to extend their economic life and earning capacity: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
46/n Building a New Energy and materials ecosystem and decarbonising and repurposing our existing O2C business is a multi-decade growth path for our company. It has potential to create unprecedented value for India and for Reliance: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
47/n By implementing our Green Vision, Reliance will help transition India and the World from an Industrial Civilisation to an Ecological Civilisation. We are repaying our debt of gratitude to Mother Nature: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
48/n In spite of COVID, Jio sustained its track record of robust performance. @RelianceJio became the first operator outside China to cross 400 million mobile subscribers in a single country: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
49/n @RelianceJio is today world’s 2nd largest mobile data carrier handling over 630 crore GBs a month. This is 45% growth in data consumption in the last year alone — a testament to the rapid pace at which India is digitizing: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
50/n During recent spectrum auctions, we invested ₹57,123 cr to acquire significant additional spectrum, making Jio the largest operator of 4G spectrum in India. We have operationalized nearly 100% of this additional spectrum: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
51/n I am pleased to announce that Google and Jio teams have jointly developed a truly breakthrough smartphone — JIOPHONE NEXT. It is a fully featured smartphone supporting the entire suite of applications from both Google and Jio: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
52/n JIOPHONE NEXT is powered by an optimized version of Android OS jointly developed by Jio and Google. It is ultra-affordable and packs cutting-edge features. It will be available in market from Ganesh Chaturthi, 10th September: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
53/n At a time when so many aspects of our lives and work are moving online, it’s even more important to make technology accessible and helpful for everyone. This goal is at the heart of our partnership with Reliance Jio: Sundar Pichai
#RILAGM #MadeForIndiaMadeInIndia @Google
54/n Our vision was to bring affordable access to information for Indians in their own language, to build new products and services for India’s unique needs, and empower businesses with technology: Sundar Pichai
#RILAGM #MadeForIndiaMadeInIndia @Google
55/n Next steps in this vision start with a new, affordable, Jio smartphone, created with Google. It is built for India and it will open up new possibilities for millions of new users who will experience the internet for the very first time: Sundar Pichai
#RILAGM #MadeForIndiaMadeInIndia @Google
56/n A new 5G partnership between Google Cloud and Jio will help more than a billion Indians connect to a faster internet, support businesses in digital transformation and lay a foundation for the next phase of India’s digitization: Sundar Pichai
#RILAGM #MadeForIndiaMadeInIndia @Google
57/n We are proud to play a part in India’s next wave of technological innovation. Helping to connect 1.3 billion Indians to the opportunities the internet creates is meaningful to all of us at Google — and certainly to me personally: Sundar Pichai
#RILAGM #MadeForIndiaMadeInIndia @Google
58/n With Facebook we have launched an initial set of integrations between WhatsApp and JioMart on a trial basis and the response from WhatsApp and JioMart customers is encouraging along with lots of valuable feedback: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
59/n With Microsoft we have operationalized an initial 10 MW capacity of JIO-AZURE Cloud Datacentres in Jamnagar and Nagpur. We are currently onboarding the initial group of pilot customers: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
60/n JioFiber has acquired over 2 mn new premises over the past year. With a cumulative base of 3 mn active home and business users JioFiber has become the largest and the fastest growing fixed broadband operator in India: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
61/n Jio has taken tremendous strides in maturing state-of-the-art 5G technology, which signifies a quantum leap to next frontier of wireless broadband. Our ‘Made in India’ solution is comprehensive, complete and globally competitive: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
62/n Jio is uniquely positioned to quickly and seamlessly upgrade to 5G. To develop 5G ecosystem, we are working with global partners to develop a range of 5G devices. Jio is not just working to make India 2G-mukt, but also 5G-yukt: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
63/n Despite challenging operating conditions, Reliance Retail continued to deliver. We added 1,500 new stores, which is amongst the largest retail expansion undertaken by any retailer during this period, taking our store count to 12,711: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
64/n Our apparel business sold nearly five lakh units per day and over 18 crore units during the year. This is equivalent to dressing the entire population of UK, Germany and Spain once: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
65/n Reliance Retail sold 4.5 crore units of electronics last year which translates to over 120,000 units per day. We sold over a billion units of groceries or about 30 lakh units per day: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
66/n JioMart registered over 6.5 lakh peak orders in a single day. Over 3 lakh merchant partners from 150 cities were enabled and empowered. Expansion is underway to onboard 1 cr merchant partners over next 3 years: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
67/n Reliance Retail currently employs over 2 lakh people making us one of the largest employers in the country. Over next 3 years, we shall further create employment for over 10 lakh people and enable the livelihoods for many more: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
68/n We are committed to grow our business so that we are among the top 10 retailers globally. I am confident that Reliance Retail is on a hyper growth trajectory to grow at least 3x in the next 3–5 years: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
69/n Reliance is probably the only large company in the world that has successfully transformed itself from a traditional industrial business into an enterprise that now includes two mega-scale consumer and technology businesses: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
70/n In last 10 years, Reliance invested $90bn in creating substantial wealth for nation and value for shareholders. In the coming decade, Reliance has capacity to catalyse investments of over $200bn directly and through partners: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
71/n These investments will create value on an exponential scale. They will also create over 10 lakh new employment opportunities, besides fostering thousands of small and medium enterprises across the country: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
72/n India is destined to emerge as one of the top three economies in world. And as your company in its Golden Decade transforms itself as New Reliance, it is destined to play a proud role in emergence of a New India: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
73/n As Reliance climbs new summits of success in its onward journey, it will also cross new milestones in being a caring and empathetic corporate citizen. But believe me: The Best of Reliance is yet to come: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
74/n India will conquer the COVID crisis — sooner rather than later. Post COVID, India will emerge stronger. It will be a Better India, a Resurgent India, a more Equal India, and a far more Self-Confident India: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
75/n I foresee that the Indian economy will bounce back at a rate that will surprise the world. Prosperity and opportunities will be created for all on a scale never seen before. Not for a few, but for all 1.35 billion Indians: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
n/n I thank the Central and State Governments, shareholders, investors, lenders, suppliers and customers for their consistent and resolute support. I thank all my colleagues on the Board for their oversight in this crucial phase of our growth, their support and immense encouragement: Mukesh Ambani
#RILAGM #MadeForIndiaMadeInIndia
