As India races ahead to become the world’s third-largest economy, an unprecedented opportunity awaits Reliance. Reliance can …. and Reliance will … grow to be among the top 10 business conglomerates of the world,” billionaire and Chairman, Managing Director of Reliance Industries, Mukesh Ambani, said in his annual New Year day message to his employees on December 26.

It was also the birthday of founder Dhirubhai Ambani that has been designated as Reliance Family Day.

In a rapidly-changing global and domestic environment, there was no room for complacency, said Ambani. “Reliance was never complacent in the past, and Reliance will never be complacent in future.”

Market disruption

He added, “We are known for disrupting the market through constant innovation and reinvention,” in obvious reference to the way the conglomerate took leadership position in the telecom and retail sectors and is attempting something similar in the financial services sector.

The Reliance group has achieved perennial growth by setting the bar high and set new records.

In order to achieve its ambition of being among the top 10, RIL would have to focus on providing value to its customers and exceed expectations, win community trust through its actions, and enhance competencies and capabilities at all levels.

“In the coming years, we must continue to strive even harder to develop products and services that no one has created ever before,” he said.

Theme for 2024

For the New Year, a big theme for RIL would be to reinvent itself as a unique new-age technology company and this would be achieved through consolidating its place in digital data platforms and adoption of artificial intelligence (AI).

“All our growth engines of Reliance – Digital Services, Green and Bioenergy, Retail and Consumer Brands, O2C and Materials business, and Health and Life Sciences – will have to complete this transformation by the time we meet next year,” he added.

The group was also accelerating its efforts to become a pioneer in developing AI to address India’s national priorities in education, healthcare, agriculture, and employment creation.

Other areas of consolidation would be in talent enrichment and institutional culture.

While stressing on the ‘youth’ factor and the need to nurture young talent, Ambani, in his  New Year message, made it very clear that his three children would be clear successors to the RIL empire. “Let me reiterate: The future of Reliance belongs to Akash, Isha, Anant and their generation.”

He prophesied that 2024 would be “even better” for India and RIL than 2023 has been.

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