India’s richest person Mukesh Ambani, owner of Reliance Industries (RIL), will hold its 45th Annual General Meeting (AGM) on 29 August (Today) via video conferencing at 2 PM. The agenda of this AGM is the announcement of the launch of its JioPhone 5G. Some key businesses are retail, telecom, and new energy is also expected at the AGM.

At 2021’s AGM, Ambani launched the JioPhone Next, its first smartphone. Also, the company had out a new-energy blueprint with a Rs 75,000-crore investment over three years. 2022 will see the company step up its investments in this area as it pivots towards green energy.

Earlier this month, the Energy Conservation (Amendment) Bill, 2022, was tabled and passed in Parliament to propose a mandatory threshold for the consumption of green fuels such as green hydrogen, green ammonia, and biomass in all industries.

Google helps to develop phones with a price of around Rs 12,000 per unit and fully loaded with features that will be positioned as an affordable option to consumers. Meanwhile, the company plans its retail telecom businesses for the future. Jio Platform and Reliance Retail Venture are two separate vertical operating units.

“RIL had decided against proceeding with the demerger of its oil-to-chemicals business last year. But the company could revive the plan this year,” G Chokkalingam, founder and managing director (MD), Equinomics Research and Advisory, said.

“While crude oil prices have corrected recently over global slowdown concerns, tight supplies remain in focus,” he said.