The 45th annual general meeting (AGM) of Reliance Industries Limited (RIL) was held today. Mukesh Ambani, the chairman and managing director of RIL, made a number of announcements during the AGM, which was conducted essentially three times in succession.
The following are the five significant announcements Mukesh Ambani made:
succession strategies
Mukesh Ambani, chairman and managing director of Reliance Industries Ltd., picked his youngest son Anant for the new energy unit and twins Akash and Isha for leadership in the telecom and retail sectors.
Jio will invest $2 lakh crore and launch 5G throughout India by December 2023.
Ambani stated that Reliance Jio has budgeted 2 lakh crores for a 5G network and intends to roll out high-speed services by Diwali in major cities.
Reliance will invest $75,000,000,000 in the expansion of petchem.
According to Reliance Industries Ltd.’s chairman, the company will invest Rs 75,000 crore in petrochemical capacity expansion over the next five years.
Reliance Retail plans to enter the FMCG market.
Isha Ambani, director of Reliance Retail, revealed plans to enter the fast-moving consumer goods (FMCG) market at the 45th Annual General Meeting of the oil-to-telecom behemoth Reliance Industries.
On the new energy sector at RIL
At RIL’s 45th Annual General Meeting today, its chairman and managing director unveiled its new Giga Factory for Power Electronics, which Mukesh Ambani had previously promised would be built at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar to house four Giga Factories.