'Reliance ready for next phase of growth', Mukesh Ambani expressed confidence in the company's annual report

Reliance Industries Chairman Mukesh Ambani has given information about the future agenda in the company's latest annual report. He has said that Reliance Industries is ready for the next phase of growth. Ambani said, "The group, historically a heavy consumer of fossil fuels, is now moving ahead in the field of green energy. The company is strengthening its telecom business and making India, once a data-backward country, data-rich. In the company's annual report, Mukesh Ambani said that in the era of fluctuations and uncertainty, India is shining as a beacon of stability and prosperity.

Reliance, India's most valuable company, has added telecommunications, retail, and finance to its core business of oil and chemicals over the past decade. The company is now moving towards the goal of net zero carbon emissions by 2035. Mukesh Ambani said in the company's annual report that the launch of Jio 4G mobile telephone services in 2016 turned India into a data-rich country and supplied affordable, high-speed 4G data to every Indian.

He said, "And this year, Jio rolled out its True5G network across India in world-record time. This strengthened the country's digital infrastructure." He said the launch of the affordable smartphone JioBharat will prove to be important in making India '2G-free'. Regarding the retail business, Ambani said that being India's largest retail company, Reliance Retail is in a position to meet the needs of the fast-growing economy.

He said that along with its wide range of products, we are also providing a home delivery facility for grocery to electronic products. We are also helping small indigenous traders and grocery shop owners. He said the world is now realizing India's immense potential and many prominent names have invested in Reliance Retail Ventures Limited at a valuation of $100 billion.

According to Ambani, Reliance continues to invest in traditional fossil fuels. Its gas field in the Bay of Bengal meets about 30 percent of India's needs, while the world's largest single-site refinery in Jamnagar, Gujarat ensures a steady supply of fuel to both India and offshore markets.

Ambani has said that the group's media and entertainment business strengthened its market share with a record viewership of Indian Premier League T20 cricket on Jio Cinema. He said, "We have entered into an agreement with The Walt Disney Company to form a joint venture by combining the businesses of Viacom 18 and Star India." According to him, "This joint venture will be one of the leading television and digital streaming platforms in India and will provide the best entertainment."

With the increase in business, Reliance became the first Indian company to cross the Rs 20 lakh crore mark in terms of market capitalization. He said, "After the capital expenditure made in the past, Reliance has strengthened its balance sheet and is ready for the next level of growth."