From culture to climate, education and sports to women’s empowerment, healthcare to livelihoods, rural transformation to disaster management, we work in over 54,000 villages across India. We have so far touched lives of nearly 70 million Indians, said Nita Ambani.

Following a lukewarm response to its AGM announcements, Reliance Industries's stock ended the day 1.1% down, closing at Rs. 2,442.55. The newly listed Jio Financial Services also closed in red at Rs. 211.15, down 1.56%.

"We (Reliance Industries have become India’s largest BioEnergy producer. We commissioned first commercial scale CBG plant at Barabanki in Uttar Pradesh. We target to establish 100 CBG plants in next five years, consuming 5.5 million ton of agro-residue and organic waste," said Mukesh Ambani.

Reliance Industries is working to set up its battery giga factory by 2026. It will manufacture battery chemicals, cells and packs, leading all way up to energy storage solutions, and will include a battery recycling facility. Integration of energy storage with wind and solar power generation is critical to provide grid-connected, round-the-clock electricity. "We are well on our way to prove this integration at mega-watt scale in the next few quarters at Jamnagar," said Mukesh Ambani.

We are executing India’s first world-class carbon fiber facility in Hazira. It will make carbon fiber- reinforced plastics. We also remain focused on fast-track execution of our Dhirubhai Ambani Green Energy Giga Manufacturing Complex at Jamnagar. Our first priority is to deliver a fully integrated, end-to-end solar PV manufacturing ecosystem, said Mukesh Ambani.

Talking about its oil-to-chemicals business, Mukesh Ambani said the company has revived gas production from KGD6 Block from near zero a few years back to about 20 MMSCMD in FY23. We are well on our way to enhance production to 30 MMSCMD, which will be 30% of India’s gas production and 15% of its current gas demand. This will save up to $7 billion per annum in imports for the country.

Just like Jio and Retail, Jio Financial Services (JFS) will prove an invaluable addition to RIL ecosystem of consumer businesses. The digital-first architecture will give it an unmatched head start, said Mukesh Ambani. RIL has capitalised JFS with net worth of Rs. 1,20,000 crore, one of world’s highest capitalised financial service company at inception. JFS will also benefit from experience of its leaders, including chairman Shri KV Kamath, a veteran and respected banker.

While Reliance's AGM is still underway, investors have not responded to the details announced so far with enthusiasm. The stock is 0.5% down at Rs. 2,455.35 apiece. Before the start of the AGM, the stock was trading flat but in green.

New Commerce business grew phenomenally on back of our omni-channel capabilities. The launch of JioMart on WhatsApp has been a phenomenal success with 9X growth of JioMart customers on WhatsApp since launch in 2022, said Isha Ambani. She added that JioMart on-boarded over 25,000 artisans, weavers and micro-entrepreneurs. Over 1.6 lakh products of artisans from 150+ cities are available on our platforms. We work with over 2,500 handloom weavers, covering 50 craft clusters

Reliance Retail posted revenue of Rs. 2,60,364 crore in FY23. We delivered an EBITDA of Rs. 17,928 crore and a net profit of Rs. 9,181 crore. Reliance Retail is only Indian retailer in the global Top 100, and one of fastest growing retailers in world, said Mukesh Ambani. Reliance Retail currently has an equity value of Rs. 8,28,000 crore.

Jio Platforms wants to lead in developing India-specific AI models and AI-powered solutions across domains, thereby delivering benefit of AI to Indians, businesses and government, said Mukesh Ambani. We also need AI-ready digital infrastructure that can handle AI's immense computational demands. We will create up to 2000 MW of AI-ready computing capacity.

Akash Ambani also announced 'Jio True5G Lab,' a facility designed to accelerate industry transformation. The inaugural Jio True5G Lab will be located at Reliance Corporate Park in Mumbai.

"We are announcing Jio True5G Developer platform, a comprehensive platform combining our 5G network, edge computing, and a spectrum of applications and services," said Akash Ambani, Chairman, Reliance Jio.

Apart from managing your home Wi-Fi and connection details, the Jio Home app also lets you save images in the cloud and manage connected devices on the go over the internet.

Reliance's Jio AirFiber will launch in India on September 19. It uses the company's 5G network to offer up to 1Gbps speeds.

Jio recorded a revenue of Rs. 1.19 lakh crore in the last financial year with an EBITDA of Rs. 50,286 crore. It currently has 450 million subscribers, a 20% YoY growth. The company is on track to cover India with its 5G network by year-end. Jio has 50 million 5G customers in the country.

Mukesh Ambani, the Chairman of Reliance Industries, is addressing shareholders. He congratulated ISRO and all involved in the historic landing of Chandrayaan-3 near Moon's south pole. Reliance has cumulatively invested over $150 billion in India in the last 10 years, higher than any corporate in the country. The company employs nearly 3.9 lakh people (on-roll) in India and has added as many as 2.6 lakh staffers since last year.

Reliance Industries's 46th AGM is now live. You can stream it here: https://jiomeet.jio.com/meetingportal/rilagm/joinmeeting

Reliance will also provide updates on the rollout of Jio 5G as well as Jio AirFiber, the company's 5G-powered broadband service. Earlier this month, Reliance Jio completed the minimum roll-out obligations for its 'True 5G' network across all 22 Licensed Service Areas (LSA). Today, the company may also reveal the tariff rates for its 5G plans. We also expect Reliance to launch its JioPhone 5G at the AGM event.