At Reliance Industries (RIL) annual general meeting on Thursday, billionaire Mukesh Ambani informed shareholders that the conglomerate is poised to join the ranks of the world’s 30 most valuable companies.
He further emphasized that in the current scenario artificial intelligence will be a transformative force, and will enhance the company’ growth and value.
The company is investing in advanced technologies across its businesses and developing in-house innovations, and building an AI-native digital infrastructure. RIL’s R&D expenditure exceeded ₹3,643 crore in FY24, with over ₹11,000 crore spent in the last four years. It has more than 1,000 scientists working on critical projects, leading to over 2,555 patents filed, including in 5G, AI, and green energy.
Ambani expressed his confidence that RIL has full potential to rank among the world’s top 30 companies adding that it has more than 1,000 scientists working on critical projects, leading to over 2,555 patents filed, including in 5G, AI, and green energy.
The board will meet on September 5, 2024, to consider issue of shareholders bonus, potentially doubling their shares without additional cost by capitalizing the company’s reserves.
