Reliance Industries, led by Chairman Mukesh Ambani, is undergoing a significant transformation to become a
deep tech company
. Ambani highlighted this shift at the company's 47th Annual General Meeting (AGM), emphasising the transformative power of artificial intelligence (AI) and its potential to address global challenges.
Reliance's strategic adoption of deep tech and advanced manufacturing is expected to propel the company to the top 30 global companies in the near future.
Ambani expressed optimism about the company's future, stating that it is "far brighter than our past." "As I told you last year, Reliance has now become a net producer of technology. Breakthrough technologies and innovation have always been the greatest wealth creators for nations, as well as for corporations. Reliance internalised this 'Vikas Mantra' at every stage of our growth," he said.
Reliance is transforming itself into a deep tech company with advanced manufacturing capabilities in various ways.
Jio, a subsidiary of Reliance, has already established itself as a leader in deep tech innovation. Ambani described AI as a pivotal moment in human evolution, opening doors to solutions for complex global problems.
To strengthen its deep tech capabilities, Reliance has invested heavily in research and development. In the past four years alone, the company has spent over Rs 11,000 crore (USD 1.5 billion) on R&D. This investment has led to the development of numerous patents in areas such as bio-energy, solar energy, high-value chemicals, and digital technologies. He informed that in FY2023-24 Reliance filed over 2,555 patents, mainly in the areas of bio-energy innovations, solar and other green energy sources, and high-value chemicals.
Ambani assured shareholders that the ongoing tech-driven transformation will drive Reliance into a new era of hyper-growth and significantly increase its value for years to come.
English (US) ·