Reliance 44th AGM 2021: Executive Summary & key announcements

All directors of the company, CFOs, company secretary and representatives were present at the meeting, with several lakh shareholders watching the virtual AGM from home.

New Energy business

• RIL launches new energy business and creates Dhirubhai Amban Green Energy Giga Complex

• Overall initial investment in new energy business will be Rs 75,000 crore

• Reliance New Energy Council established which is partnering with leading universities and tech companies

• Four Giga Factories announced: Integrated solar photovoltaic module factory – production of solar energy; Advanced every storage battery factory – Storage of intermittent energy; Electrolyser factory – Production of green hydrogen; Fuel cell factory – Converting hydrogen into mobile & stationary power

• India will play a leading role in transform the global energy landscape by growing sustainable business and providing leadership

• Repurposing existing assets to create sustainable economic environment; multi decade growth plan

JioPhone Next

• Google and Jio announce JioPhone Next; a fully featured android smartphone

• JioPhone Next will be availabe from 10th September this year

• JioPhone Next is an ultra affordable smartphone, says Ambani

Aramco-RIL partnership

• Yasir Al-Rumayyan Chairman of Saudi Aramco and Governor PIF joins Reliance board as an independent director, while YP Trivedi retires from Reliance board

• To achieve accelerated growth, Reliance looks forward to adding Saudi Aramco as strategic partnership in O2C business, said Mukesh Ambani

• The Aramco-RIL partnership will be formalized this year, with more updates awaited

• This is the beginning of internationalisation of Reliance, you will hear more about our international plans in the times to come, said Ambani

• Google Cloud and Jio announce 5G partnership, laying foundation for India’s digitisation

• Jio will use Google Cloud’s technology to power Jio’s 5G solutions

• Reliance has tested Jio 5G solutions in India and demonstrated speed of up to 1GBPS

• Jio is not just working to make India 2G-mukt, but also 5G-yukt, says Mukesh Ambani

• Entire 5G standalone network has be installed in RIL data centres and trial sites in Navi Mumbai

• Ambani said he is confident of being the first to launch a full-fledged 5G service in India

• Creating 100% owned intellectual property in 5G, AI/ML, blockchain, and mixed reality, says Ambani

Retail

• Reliance Retail has not only protected jobs, but also created over 65,000 new jobs, says Ambani

• “Reliance Retail is on a hyper-growth trajectory to grow at least 3x in the next 3-5 years”

• Ambani highlighted five key steps to deepen its retail arm: Establishing research design centres; further strengthening value ecosyestem; building state of the art supply chain infra; renewed focus on consumers; continue to acquire businesses

Reliance Chairman Mukesh Ambani made major announcements during the 44th Annual General Meeting (AGM), chief among which were Saudi Aramco Chairman Yasir Al-Rumayyan joining RIL’s board, the Google-Jio smartphone JioPhone Next, and Google Cloud joining hands with Reliance Jio for its 5G initiative.

Complete Video | | India Today