Reliance Industries Ltd (RIL) said its board would meet on September 5 to consider bonus issue in the ratio of 1:1.

“When Reliance grows, we reward our shareholders handsomely,” Mukesh D Ambani, CMD, RIL told shareholders at the company’s Annual General Meeting (AGM) on Thursday. 

He said with the company’s strategic adoption of Deep-Tech and Advance Manufacturing, RIL would be placed in the top-30 league of most valuable companies globally in the near future.

Stating that the company was on track to fully commit and invest up to ₹75,000 crore in its New Energy business to establish manufacturing ecosystem, extensively enabled by all emerging technologies including AI, IoT, Machine Learning, and Robotics, he said the company’s complete ownership and automation of the integrated value chains would allow RIL to maximise margins that would be higher than those of stand-alone, non-integrated players.

“Our New Energy business will be the new jewel in Reliance’s crown. I foresee it becoming as big and profitable over the next 5-7 years, as our O2C business which we had built over the past 40 years,” he said. 

“And, I am confident that Green fuels and AI-based solutions will become long-term growth engines for Reliance. Overall, the Reliance Group is well on track to more than double in size before the end of this decade and grow faster in the decades ahead,” he added.

Talking about the merger of Disney India with the media assets of RIL, Mr. Ambani said, “This marks the beginning of a new era in India’s entertainment industry. We are combining content creation with digital streaming. Just like Jio and Retail, our expanded Media business will be an invaluable growth centre in the Reliance ecosystem.” 

Emphasising that the company had made a bold promise to bring the benefits of AI to every Indian, everywhere, just as it did with broadband, he said that the company was on track to fulfil that promise. 

“At Jio, we have always been at the forefront in leveraging cutting-edge technologies for faster scaling, higher efficiency, and superior customer service. And now, AI has become integral to everything we do. Jio is developing a comprehensive suite of tools and platforms that span the entire AI lifecycle. We call this Jio Brain,” he said. 

“I anticipate that by perfecting Jio Brain within Reliance, we will create a powerful AI service platform that we can offer to other enterprises as well. 

 With Jio’s AI Everywhere For Everyone vision, we are committed to democratising AI, offering powerful AI models and services to everyone in India at the most affordable prices,” he added. 

To support the company’s AI Everywhere For Everyone vision using Connected Intelligence, he announced that Jio AI-Cloud Welcome offer wherein Jio users would get up to 100 GB of free cloud storage, to securely store and access all their photos, videos, documents, all other digital content, and data. 

“We plan to launch the Jio AI-Cloud Welcome offer starting Diwali this year, bringing a powerful and affordable solution where cloud data storage and data-powered AI services are available to everyone everywhere,” he said.