Ambani Formally Unveils RIL Succession Plan at AGM

At the 45th Annual General Meeting of Reliance Industries, the next generation of the Ambani family made their presence known. Although Akash and Isha had both previously made appearances, this time they took the stage in their roles as leaders of Reliance Jio and Reliance Retail. While standing side by side with their father, the billionaire Mukesh Ambani, the Ambani twins made a number of important announcements.

Key Announcements are as below

1. Reliance chairman says children Akash, Isha & Anant are ‘confidently taking over the reins’ 2. Capex (Capital Expenditure): plans unveiled to double RIL`s value by the end of 2027. 3. Rupees 2 lakh crore investment in Reliance Jio. 4. Rupees 75,000 crore investment in oil-to-chemicals business. 5. RIL is also looking at bio-energy, offshore wind, geo-thermal and other forms of renewable energy. 6. By Diwali this year, Jio will launch 5G services in metro cities across India by December 2023. 7. Reliance Retail to launch FMCG business this year.