‘Reliance builds four engines for growth, charting deep-tech shift’

New Delhi: Reliance Industries has built four high-powered growth engines of retail, digital services, media and entertainment, and new energy to propel the conglomerate’s next phase of expansion, Chairman Mukesh Ambani said.

Parallelly, Reliance is reshaping itself into a new-age deep-tech enterprise, he said in a message to shareholders in the firm’s latest annual report.

The firm, which traditionally had oil and petrochemicals as the growth drivers, has in the last few years ventured into retail - both online and physical stores - telecom and digital services, built a media empire around news and entertainment channels, and laid the foundation for giga factories for its clean energy foray.

“Each of these (four) platforms is technology-first, innovation-led, and positioned to disrupt industries while delivering massive value to Indian consumers and the global market,” Ambani said.

On its mainstay cash-cow oil-to-chemicals (O2C) business, which houses the world’s largest single location oil refinery complex and petrochemical plants, and oil and gas production business, he said these will continue to grow while catering to India’s rising energy and materials demand.

“We are not just scaling businesses - we are building platforms that empower people, reduce inequality, drive sustainability, and elevate India’s position in the global economy.

“Whether it’s transforming the way Indians shop, consume data, watch content, or power their homes and businesses - Reliance is shaping the future with purpose and conviction,” he said.

Ambani, the richest man in Asia, said the world is changing at breakneck speed - reshaped by digital disruption, global shifts, and technological breakthroughs.

“At Reliance, we see this not as a challenge but as an opportunity. We are reimagining our future and reshaping our businesses to become a new-age deep-tech enterprise,” he said, adding that next-generation technologies are being integrated in every business vertical - from energy to entertainment, from retail to digital services.

The conglomerate has over 1,000 in-house scientists who are leading cutting-edge research in areas like AI, renewable energy, advanced materials, and digital platforms.

“Our manufacturing infrastructure is being future-proofed to support India’s aspiration to become a global manufacturing powerhouse,” he said.

Giving performance highlights of each of the businesses, Ambani said while retail crossed Rs 3.3 lakh crore in turnover and expanded its footprint to 19,340 stores, Jio emerged as the world’s largest data network with 488 million users, including 191 million on 5G.

In the media space, Reliance built a large and distinctive media institution, in partnership with Disney, across genres, and has delivered record viewership and engagement metrics within the first few months of commencing operations.

While O2C demonstrated resilience through disciplined cost management and strong domestic placement, oil and gas delivered record EBITDA, with increased output from KG-D6 and CBM blocks, he said.

New energy transitioned from vision to execution - operationalising giga-scale solar and battery energy projects, he said.