“AI is the new Kamadhenu,” Mukesh Ambani said in his keynote address at 48th Annual General Meeting (AGM) of Reliance Industries, as he focused on the breakthroughs in clean energy, genomics, and artificial intelligence and allied deep technologies. Ambani also announced that Reliance’s telecom arm Jio will head to IPO in the first half of 2026.
“We are developing AI as a new growth engine besides embedding AI across all our businesses—from retail to telecom, energy to entertainment,” added Ambani, one of the world’s wealthiest men.
He also noted that geopolitical tensions were on the rise, stating that “conflict produces no winners.”
“When nations cooperate, trade flows freely,” Amabni said, clearly referring to the recent Trump tariffs.
Jio IPO in first half of 2026
Reliance’s telecom arm will soon list itself on the Indian stock market. Ambani announced the company’s decision to open its initial public offering (IPO) by the first half of 2026.
As Jio is set to enter its tenth year since inception in the next couple of weeks, Ambani lauded India’s transformation in telecom and digital growth. He also announced that Jio crossed 500 million customers.
India-first model of development
“India does not need to copy any foreign model of development”, Ambani said.
Ambani’s AGM address skewed heavily on artificial intelligence, with the chairman announcing the company’s transformation into a “deep-tech company with advanced manufacturing capabilities” for the future.
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All of Reliance’s businesses would be AI-native, he added.
JioFrames, JioPC, Riya for JioHostar
Mukesh Ambani then passed the baton to Reliance Jio Infocomm Limited (RJIL) Chairman Akash Ambani, who announced the AI-ready computer JioPC and India’s answer to the Meta glasses, the JioFrames.
The 33-year-old also announced Riya, a Siri-like voice assistant for JioHotstar. Akash Ambani, while introducing the AI assistant, said that Riya would scour the entire content library of JioHotstar and provide you with the right answers.
For example, if you said “play the best moments in Koffee with Karan” or “play highlights of India vs Sri Lanka cricket match”, it would seek the relevant reels and play them for you, according to the AGM presentation.
Other new features include VoicePrint (AI-powered translated audio), JioLenZ (adaptive technology for zooming into content), and MaxView 3.0 (multiple camera angles, scorecards, etc., on swipe for cricket).
CEO-studded RIL AGM: Sundar Pichai, Mark Zuckerberg, Bob Iger
Mukesh Ambani invited Sundar Pichai, CEO of Google and Alphabet, to share his perspective on the collaboration. Calling India a “special place” for Google, Pichai highlighted the nation’s businesses, start-up ecosystem, and creativity. He noted that Google has been investing in India’s digital future for over a decade and that its partnership with Reliance and Jio has helped bring affordable internet access to millions.
Then, Meta CEO Mark Zuckerberg addressed the AGM, “We are seeing glimpses of our AI systems starting to improve themselves. And it seems clear that superintelligence is going to greatly improve all of our existing systems and let us build things that we can’t even imagine today.”
“Meta and Reliance are going to deliver our open-source AI models to Indian businesses to help them fuel their work. With Llama, we have seen how AI can amplify human potential, boosting productivity, inspiring creativity, and accelerating innovation. And now, with Reliance’s reach and scale, we can bring this to every corner of India. Llama’s open-source foundation means that whether it is deployed in a cloud, on premises, or through dedicated infrastructure, this technology can be tailored to fit the unique needs of every business: from small start-ups in remote towns to large enterprises in the biggest cities,” said the Facebook founder
Disney CEO Bob Iger also addressed the AGM earlier, highlighting the partnership with RIL. “Through JioStar, we are delivering the very best in entertainment and sports, reaching audiences at an unprecedented scale,” Iger added.
Reliance AGM updates
Reliance Industries hosted its AGM on Friday, August 19 2025, from 2 pm. The mode of the AGM was video conferencing (VC), with the option of Other Audio Visual Means (OAVM) for investors. The major agenda of the AGM of India’s most valued listed firm, led by the Ambani family, was to adopt the audited consolidated and standalone financial statements of the company for the financial year ended March 31, 2025.
A regular item on the agenda for Reliance Industries Limited (RIL) was to pass the ordinary resolution to provide the dividend at the rate of Rs 5.50 per equity share of Rs 10 each, fully paid-up of the company.
Another major move was to appoint Isha M. Ambani, who retires by rotation at the meeting, to be appointed as a director of the company. The same went for Nikhil R. Meswani. Isha Ambani also announced major updates on the retail arm of RIL.