Thread by @flameoftruth

1/n 45th Annual General Meeting (Post-IPO) of Reliance Industries Limited (RIL) begins…
#RILAGM #WeCare

2/n Shri Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, welcomes all the shareholders to the company’s 45th Annual General Meeting
#RILAGM #WeCare

3/n I miss the warmth and bonhomie of our personal interactions. I sincerely hope that next year, we will be able to switch to a hybrid mode, which will combine the best of both physical and digital modes: Mukesh Ambani
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4/n The Panch-Pran, or the Five Imperatives, PM Narendra Modi has articulated (in his speech on 15th August) will surely make India a developed nation by 2047. He has aptly described the next 25 years as India’s ‘Amrut Kaal’ — the Era of Elixir: Mukesh Ambani
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5/n The next generation of Indians are set to achieve more than all the post-Independence generations have collectively achieved so far. And RIL is set to make a far greater contribution to India’s prosperity and progress than we have done so far: Mukesh Ambani
#RILAGM #WeCare

6/n The Government’s skilful management of the pandemic, and pragmatic approach in dealing with the ensuing economic challenges, have helped India emerge stronger than before, wiser than before, and more resilient than before: Mukesh Ambani
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7/n I’d like to congratulate our beloved PM @narendramodi, for his visionary leadership, and FM @nsitharaman for her exemplary stewardship in navigating the Indian economy through a period of volatility and unprecedented challenges: Mukesh Ambani
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8/n #WeCare is the core philosophy of #Reliance. It is the philosophy of doing good to others before doing well for ourselves. Our ever-expanding circle of care enhances respect for Reliance globally and ensures its sustainable growth: Mukesh Ambani
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9/n Our company became India’s first corporate to cross $100 billion in annual revenues. Reliance’s consolidated revenues grew 47% to $104.6 billion. Reliance’s annual consolidated EBITDA crossed a crucial milestone of ₹1.25 lakh crore: Mukesh Ambani
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10/n RIL set higher benchmarks of serving the community and also created business and societal value on unparalleled scale. RIL’s exports grew 75% to ₹250,000cr; Contribution to national exchequer grew 39% to ₹188,012cr, adding 2.32L jobs in FY22: Mukesh Ambani
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11/n Over the past year, @RelianceJio has further consolidated its position as India’s #1 digital service provider. Today, we have 421mn mobile broadband subscribers on our 4G network and they consume, on an average, ~20 GB of data every month: Mukesh Ambani
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12/n Inspired by the #DigitalIndia vision of our PM @narendramodi, India has seen the emergence and scale-up of multiple world-class national platforms like #Aadhaar, #JanDhan, #Rupay, #UPI, #AyushmanBharat, #StartUpIndia: Mukesh Ambani
#RILAGM #WeCare @RelianceJio

13/n @RelianceJio’s high-quality, redundant and always-available fibre-optic network is backbone of data traffic from India's every corner. Jio’s pan-India fibre-optic network is over 11 lakh km in length – enough to go around Planet Earth 27 times: Mukesh Ambani
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14/n JioFiber is now the #1 FTTX service provider in India, with over 7mn connected premises – a feat achieved in less than two years despite #COVID19 lockdowns. We will launch India into the Top-10 league in fixed broadband adoption: Mukesh Ambani
#RILAGM #WeCare @RelianceJio

15/n Today, I want to announce the next leap forward that Jio is creating in digital connectivity, especially in fixed broadband. That is JIO 5G. With 5G, we will connect 100mn homes with unparalleled digital experiences and Smart Home solutions: Mukesh Ambani
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16/n With Jio 5G, we will connect every-one, every-place and every-thing with the highest quality and most affordable data. In addition to meeting India’s needs, we are confident of offering digital solutions to global markets: Mukesh Ambani
#RILAGM #WeCare @RelianceJio

17/n Jio 5G will be the world’s largest and most advanced 5G network. Jio will deploy the latest version of 5G, called Stand-Alone 5G, which has zero dependency on our 4G network: Mukesh Ambani
#RILAGM #WeCare @RelianceJio

18/n The three-fold advantage of Stand-Alone 5G architecture, largest and best mix of spectrum, and Carrier Aggregation means #Jio5G will be able to offer an unparalleled combination of coverage, capacity, quality, and affordability: Mukesh Ambani
#RILAGM #WeCare @RelianceJio

19/n For pan-India 5G network, we’ve committed ₹2 lakh cr investment. @RelianceJio has prepared the world’s fastest 5G rollout plan. By Diwali, we will launch #Jio5G across multiple key cities. By Dec’23, we will deliver 5G to every town of India: Mukesh Ambani
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20/n We have indigenously developed end-to-end 5G stack which is cloud native, software defined, digitally managed, with support for advanced features like Quantum Security. This is developed in-house by our 2,000+ young Jio engineers: Mukesh Ambani
#RILAGM #WeCare @RelianceJio

21/n Jio True 5G delivers breakthrough increases in broadband speed and drastically lowers latency. We don’t get 1 Gbps even on many of the fixed broadband networks in our country: Akash Ambani #RILAGM #WeCare @RelianceJio

22/n Jio 5G gives ultra-high fiber-like speed over the air without any wires. We are calling it #JioAirFiber. With JioAirFiber, it will be real easy to quickly connect your home or office to Gigabit-speed Internet: Akash Ambani
#RILAGM #WeCare @RelianceJio

23/n Thanks to Gigabit speed of JioAirFiber, we can deliver multiple video streams, showing multiple camera angles at same time and that too in ultra-high definition, and we can dynamically choose which camera angle we want to focus on: Akash Ambani
#RILAGM #WeCare @RelianceJio

24/n Using JioAirFiber, customers can opt to use a virtual PC - Jio Cloud PC. No upfront investments, no upgrades. A super-affordable way to bring the power of a PC, even multiple PCs, to every Indian home and business: Kiran Thomas, President, RIL
#RILAGM #WeCare @RelianceJio

25/n We are excited by the endless possibilities of Jio 5G, and technology, to serve humanity and to improve lives of hundreds of millions of our citizens. For example, in Agriculture, Healthcare or Education sectors: Akash Ambani
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26/n With 5G being rolled out in India, the current 800 million connected internet devices will double to 1.5 billion connected internet devices in just a year: Akash Ambani
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27/n We are privileged to have world’s leading tech cos as partners in our ‘Made in India’ 5G collaboration viz. @Meta, @Google, @Microsoft, @Ericsson, @Nokia, @Samsung, @Cisco. Today, I announce exciting partnership with @Qualcomm: Mukesh Ambani
#RILAGM #WeCare @RelianceJio

28/n As India celebrates 75 yrs of Independence, with @RelianceJio, we’re committed to developing the digital infrastructure that enables the success of citizens and businesses, and achieves the New India: Cristiano Amon, CEO, @Qualcomm
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29/n Jio4G, JioFiber, and now Jio5G, are uniquely positioned for best quality, high value digital connectivity solutions. India can lead the world with digital solutions that solve humanity’s biggest problems in Sustainable Development: Mukesh Ambani
#RILAGM #WeCare @RelianceJio

30/n Our media business achieved its highest growth last year. Our national channels, CNN-News18, CNBC-TV18, and News18 India are consistently ranked Number 1: Mukesh Ambani
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31/n Our Entertainment arm, Viacom18 consolidated its leadership position with a high-decibel entry into Sports, bagging digital rights of IPL for 5 years. Viacom18 is also aggressively investing in movie rights and original content for OTT: Mukesh Ambani
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32/n Let me congratulate the entire leadership team of Reliance Retail on achieving a record of ₹2 lakh crore turnover and an EBITDA of ₹12,000 crore. Today, Reliance Retail is among the Top-10 Retailers in Asia: Mukesh Ambani
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33/n Reliance Retail’s purpose is to serve millions of customers daily with unlimited choice, outstanding value proposition, superior quality, and unmatched experience through our physical stores, or digital and omni-commerce platforms: Mukesh Ambani
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34/n We will establish a strong technology-enabled supply chain, capable of moving products across geographies in India in the most efficient manner. Eliminating inefficiencies and waste will bring huge gains to customers, and to national economy: Mukesh Ambani
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35/n We served over 200 million registered customers, equivalent to the collective population of the UK, France and Italy, at Reliance Retail’s physical stores and digital platforms: Isha Ambani
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36/n Our digital commerce platforms continued their growth with nearly six lakh orders being delivered every day, an increase of 2.5 times over last year. #JioMart, delivering in over 260 towns, was rated India’s #1 trusted brand for online grocery: Isha Ambani
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37/n We opened over 2,500 stores in the year to take our store count to over 15,000, with area of 42 mn sq-ft. We doubled warehousing space to 670 mn cu-ft. We generated employment for more than 1,50,000, taking employee base to 360,000: Isha Ambani
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38/n We have accelerated New Commerce initiative, powered by spirit of inclusion. Since launch 2-yr ago, we have grown merchant partner base to 20lakh+. We add about 1,50,000 partners a month, and are on course to reach 1 crore merchants in 5 yrs: Isha Ambani
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39/n During the year, we strengthened our own brands’ presence by launching several new products across categories of Staples, Home, Personal Care and General Merchandise. Further, we launched our WhatsApp-JioMart partnership: Isha Ambani
#RILAGM #WeCare @WhatsApp

40/n Our digital commerce platforms of reliancedigital.in and JioMart provide comprehensive omni-channel network, enabling us to deliver 93% online orders from stores within 6 hours: Isha Ambani
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41/n We rolled out JioMart Digital (JMD) initiative during the year. It enables small merchants sell entire product portfolio of Reliance Retail on an assisted selling model, helping them deliver superior customer experience and growing their income: Isha Ambani #RILAGM #WeCare

42/n AJIO Business, our New Commerce initiative gives merchant partners across 3,500 towns access to 8,000+ brands and a wide portfolio of our own brands. Last year, we sold over 43cr garments, enough to clothe population of US & Canada: Isha Ambani
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43/n Let me congratulate our Oil & Gas team for a spectacular turnaround, with production jumping 9x and revenues crossing $1bn. With the commissioning of the MJ Field by end-2022, KG-D6 will contribute ~30% of India’s gas production: Mukesh Ambani
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44/n For our O2C business, this was yet another year of superlative performance. It crossed ₹5 lakh crore in annual revenues. The EBITDA crossed ₹50,000 crore: Mukesh Ambani
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45/n I am pleased to share that over the next 5 years, we will invest ₹75,000 crore and expand capacities in existing and new value chains. In Polyester value chain, Vinyl value chain and New Materials: Mukesh Ambani
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46/n Consistent with our vision for New Materials, we will build in phases India’s first and one of the world’s largest Carbon Fibre plants at Hazira with a capacity of 20,000 MTPA, based on Acrylonitrile feedstock: Mukesh Ambani
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47/n We will commence ACN production next year and first phase of carbon fibre in 2025. We will integrate composites business with Carbon Fibre to produce Carbon Fibre composites. Carbon Fibre promises to be a multi decade growth engine for O2C: Mukesh Ambani
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48/n Reliance has championed the cause of sustainability through circular economy and is India’s leader in recycling of polyesters and plastics. We will more than double our bottle recycling capacity to 5 billion bottles a year: Mukesh Ambani
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49/n Our scientists have also developed pathways to produce biodegradable and compostable plastics to completely replace single-use plastics: Mukesh Ambani
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50/n Reliance has commenced its journey to become net carbon zero by 2035 with a set of concrete actions. Within one year, the renewable energy consumption at Reliance jumped by 352%: Mukesh Ambani
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51/n Decarbonising the global economy will require multi-decade investments in Green and Clean Energy to the tune of $5 trillion per year globally. This also offers unprecedented opportunities for multi-decade growth: Mukesh Ambani
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52/n The sheer magnitude of this responsibility and opportunity has made our New Energy business far more ambitious, far more transformational, and far more global in scope than anything Reliance has ever done before: Mukesh Ambani
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53/n Last year, I had announced setting up of Dhirubhai Ambani Green Energy Giga Complex in Jamnagar to establish four Giga Factories. Today, I would like to announce our new Giga Factory for Power Electronics: Mukesh Ambani
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54/n For solar PV manufacturing, we have acquired REC Solar. Our 10GW solar PV cell and module factory at Jamnagar, based on REC technology, will commence production by 2024 and scale up to 20GW capacity by 2026: Mukesh Ambani
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55/n This will be first of its kind of ‘quartz-to-module’ facility globally from quartz, to metallurgical silicon, to polysilicon, to ingots and wafers and integrate them with cells and modules: Mukesh Ambani
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56/n We will invest in Glass and POE film manufacturing – both having natural synergies with our Chemical and Materials business. It will provide supply security, unparalleled cost advantage, and ability to capture chain margins with max recycling: Mukesh Ambani
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57/n Batteries are critical to promote Green Mobility and stationary applications. We have formed strategic partnerships with Lithium Werks, Faradion and Ambri, each of them being an industry disruptor with superior chemistry, better performance: Mukesh Ambani
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58/n We aim to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell to pack manufacturing facility by 2024, and further scale up to 50 GWh annual capacity by 2027: Mukesh Ambani
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59/n We are one of the largest producers of Grey Hydrogen globally. We have partnered with Stiesdal to accelerate cost reduction and commercialisation of their Pressurised Alkaline Electrolyzer technology: Mukesh Ambani
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60/n We aim to progressively commence transition from Grey Hydrogen to Green Hydrogen by 2025, after proving our cost and performance targets: Mukesh Ambani
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61/n Reliance is actively working on bio-energy. I am happy to inform you that Reliance has inaugurated Phase I of its Bio-Energy Technology (BET) Centre at Jamnagar on August 15, 2022: Mukesh Ambani
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62/n RIL's captive requirement provides a large base-load demand to accelerate ₹75,000cr commitment to establish New Energy manufacturing ecosystem. Once proven at scale, we are prepared to double the investment to scale up our mfg ecosystem: Mukesh Ambani
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63/n Our New Energy business will help India become a net exporter of green energy. Most importantly, Reliance aspires to make India a world leader in new energy manufacturing and a credible alternative to China: Mukesh Ambani
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64/n We have a long way to go. But we are approaching this business with utmost sincerity, dedication, commitment and focus: Mukesh Ambani
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65/n Reliance Foundation has touched the lives of over 63mn people, across 60,000 villages and urban locations. In Rural Transformation, we have helped over 14.5 million people earn better livelihoods and lead better lives: Isha Ambani
#RILAGM #WeCare @Ril_Foundation

66/n We welcomed the first batch of 120 students last month for post graduate programmes. And we will launch the Nita Mukesh Ambani Junior School as an expansion to Dhirubhai Ambani International School: Isha Ambani
#RILAGM #WeCare @Ril_Foundation

67/n We are working on a 10-year blueprint that will make our Foundation bigger and more impactful. I will share the plans with you in the coming year: Isha Ambani
#RILAGM #WeCare @Ril_Foundation

68/n I shall conclude with something that is very close to my heart, and is absolutely critical for the ever-expanding growth of Reliance in the decades to come: Mukesh Ambani
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69/n Today, Reliance has grown into one of the world’s largest and most valuable business enterprises. It has become a feather in India’s cap as a National Institution: Mukesh Ambani
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70/n It has been my personal privilege to have attended every single AGM of Reliance over the past 45 years. This year, 2022, is a happy milestone in my association with Reliance – I complete two decades of serving your company as its Chairman: Mukesh Ambani
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71/n When I look back, Reliance’s story reads like an unputdownable book with never-ending chapters of success. We have collectively succeeded in growing RIL only because each one in the Leadership Team has internalised Founder’s Mindset: Mukesh Ambani
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72/n We have nurtured RIL’s unique institutional culture, due to which its every business has been super-success. Maintaining this institutional culture to achieve perpetual growth is the hardest task before our existing and future leadership teams: Mukesh Ambani
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73/n New India will have increasingly higher expectations from Reliance. Reliance must quickly, and vastly, increase its contribution to the prosperity of India, and the wellbeing of all Indians: Mukesh Ambani
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74/n Aware of this enormous responsibility and opportunity, our existing leadership and I, under the guidance of the Board of Directors, are going to give our very best in coming years to enrich RIL’s Leadership Capital and Institutional Culture: Mukesh Ambani
#RILAGM #WeCare

75/n Our next-gen leaders are confidently taking over the reins across businesses. Akash and Isha have assumed leadership roles in Jio and Retail respectively. Anant has also joined our New Energy business with great zeal: Mukesh Ambani
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76/n When I see them, I see Dhirubhai Ambani’s pioneering spirit in action. I feel supremely confident that tomorrow’s Reliance will have a better army of leaders, as should happen in any dynamic organisation that empowers its young leaders: Mukesh Ambani
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77/n I have always believed that interests of an institution must always override those of any individual or family. We will create a robust architecture for tomorrow’s RIL to ensure that it remains a united, well-integrated and secure institution: Mukesh Ambani
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78/n even as I continue to provide hands-on leadership as before, my existing team of leaders and I, along with our Board of Directors, will dedicate ourselves to making RIL more robust, more resilient, more purpose-driven, and truly future-ready…: Mukesh Ambani
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79/n… so that, in the near term, Reliance more than doubles its value by the end of its Golden Decade in 2027, and thereafter continues to grow ever more rapidly: Mukesh Ambani
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n/n I thank the Central and State Govts, shareholders, investors, lenders, suppliers and customers for their consistent and resolute support. I thank all my colleagues on the Board for their oversight, their support and immense encouragement: Mukesh Ambani
#RILAGM #WeCare