Reliance AGM highlights: 2026 Jio IPO, AI push with Google, Meta, and more

RIL AGM: Jio Chairman Akash Ambani added that the company has crossed 500 million customers, making it one of the largest telecom operators globally

Jio’s planned listing, new artificial intelligence (AI) ventures with Google and Meta, along with the growth of its retail arm, were among Reliance Industries Ltd (RIL) Chairman Mukesh Ambani's major announcements on Friday at the RIL's Annual General Meeting (AGM).

 

Here is all you need to know about Reliance Industries' 48th AGM.

 

Jio IPO by first half of 2026

Ambani said Reliance is preparing to take its telecom and digital services arm, Jio Platforms, public by the first half of 2026, subject to regulatory approvals.

 

“This will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts,” Ambani told shareholders.

 

 

Jio crosses 500 million users

Jio Chairman Akash Ambani added that the company has crossed 500 million customers, making it one of the largest telecom operators globally.

 

JioStar, JioHotstar growth

Akash also pointed to Jio’s expanding presence in media and entertainment. The newly formed JioStar unit, which includes JioHotstar, has already attracted 600 million users within three months, with 300 million paying subscribers, making it the world’s second-largest streaming platform.

 

Google partnership: Jamnagar Cloud

Google CEO Sundar Pichai joined the AGM virtually, announcing a new partnership with Reliance to set up a Jamnagar Cloud region, dedicated to Reliance businesses. The infrastructure will be powered by Reliance’s clean energy and connected by Jio’s network.

 

“The AI opportunity in India is extraordinary. It will transform every industry and organisation – from the largest enterprises to the smallest kirana store,” Pichai said.

 

Meta tie-up: AI for Indian enterprises

Meta CEO Mark Zuckerberg also announced a joint venture (JV) with Reliance to develop sovereign, enterprise-ready AI solutions tailored for India. The partnership will use Meta’s open-source LLaMA models and Reliance’s scale to deliver AI tools to businesses across sectors.

 

“Meta and Reliance are going to deliver our open-source AI models to Indian businesses to help them fuel their work,” Zuckerberg said.

 

Mukesh Ambani described the JV as a “game-changer” for Indian enterprises, aimed at lowering costs, improving safety and governance, and accelerating AI adoption.

 

Reliance Retail targets 20 per cent CAGR

Isha Ambani, director of Reliance Retail, said the business is aiming for more than 20 per cent compound annual growth rate (CAGR) in revenues over the next three years.

 

“Reliance Retail today is a national movement – a mission to benefit both consumers and producers, accelerate the economy, ignite aspirations, and enhance the quality of life of Indians,” Isha said.

 

AI-powered humanoid robotics

Mukesh Ambani also outlined plans to invest in AI-powered humanoid robotics, with applications in factories, supply chains, and healthcare. He positioned AI as Reliance’s “next growth engine”, following the success of digital services a decade ago.

 

O2C segment: ₹75,000 crore for new projects

In its oil-to-chemicals (O2C) segment, Anant Ambani said Reliance has earmarked ₹75,000 crore for new projects, including a 1.2 million tonne PVC plant at Nagothane, expanded PTA capacity at Dahej, and a speciality polyester facility at Palghar. A new carbon fibre unit at Hazira will be among the world’s three largest.

 

“Our Net Carbon Zero commitment by 2035 is not just a pledge. It is a strategic transformation that positions Reliance advantageously in evolving energy markets,” Anant Ambani said.

 

Jio-bp: Fuel and mobility

On mobility, Anant said Jio-bp has expanded its fuel retail network and rapidly scaled its EV charging and swapping infrastructure.

 

“We will continue to expand our network, scale our EV infrastructure, and introduce new green fuels, including biofuels and hydrogen,” he said.