Key Takeaways:
- Mukesh Ambani calls Jio the biggest risk he’s ever taken.
- Jio was launched despite doubts about India’s readiness for digital tech.
- If unsuccessful, Ambani said Jio would still be Reliance’s “greatest philanthropy.”
- Reliance aims to become a deep-tech and advanced manufacturing company.
- Inspired by Dhirubhai Ambani’s vision to serve a billion people, not just create billionaires.
Reliance Industries Chairman and Managing Director Mukesh Ambani has described his bold investment in Jio as the biggest risk of his career—one that could double as the group’s greatest act of philanthropy if it failed to deliver expected returns.
In a candid interview with McKinsey & Company, Ambani revealed that during the early days of Jio’s launch, there was strong scepticism from industry analysts who believed India lacked the infrastructure to adopt advanced digital technologies. But despite doubts, Ambani said the decision aligned with Reliance’s long-standing philosophy of nation-building.
“At the time, it was our own capital, and I was the majority shareholder. Some thought India wasn’t ready for such advanced digital infrastructure. But I told my board—if it doesn’t make money, at the very least, it would be Reliance’s biggest philanthropic contribution, because it would digitise India,” Ambani stated.
Jio’s Role in India’s Digital Transformation
The rollout of Jio’s high-speed internet services revolutionized India’s digital landscape, making affordable data accessible to millions. What started as a calculated risk has since become a cornerstone in India’s journey toward a digitally empowered economy.
Ambani emphasized that scale and impact have always been essential to Reliance’s strategy. “We’ve always taken big bets. With Jio, we didn’t just offer telecom—we built a platform to fuel India’s digital revolution,” he added.
Reliance’s Vision: Deep-Tech and Advanced Manufacturing
Looking ahead, Ambani outlined a bold transformation of Reliance Industries into a deep-tech and advanced manufacturing powerhouse. “We started with telecom, launched 5G in 2021, and built 80% of the tech stack—hardware, software, and core—internally. We partnered with Ericsson to ensure our benchmarks remained high,” Ambani said.
This shift is part of Reliance’s broader ambition to solve complex societal problems, including those in AI and technology, without entering high-risk areas like GPU manufacturing. Instead, the focus is on downstream applications with strong real-world utility and economic impact.
Inspired by Dhirubhai Ambani’s Legacy
Mukesh Ambani also reflected on the vision of his father, Dhirubhai Ambani, who built Reliance with the belief that businesses should serve the masses. “My father used to say—don’t start a business to become a billionaire. Start a business to impact a billion people. Success and wealth will follow as by-products.”
This guiding principle continues to influence Reliance Group’s business strategy, as it forges ahead with innovations in AI, 5G, green energy, and digital infrastructure.
