‘Rise of new India is an absolute certainty’: Mukesh Ambani’s top 10 quotes from Reliance AGM 2024

Reliance Industries Ltd's (RIL) Chairman and Managing Director Mukesh Ambani addressed the shareholders at the company's annual general meeting (AMG) on Thursday, August 29. Ambani discussed the company's growth prospects, areas of focus, and the opportunity the conglomerate brings to fuel India's growth story in uncertain times. 

Reliance Industries shares closed 1.51 per cent higher at ₹3,040.85 after Thursday's trading session, compared to ₹2,995.75 at the previous trading close. The shares supported the domestic indices in reaching new highs on Thursday.

Top quotes from CMD Mukesh Ambani:

1. Reliance Industries Limited has sent a notice to the stock exchanges that the Board of Directors will meet on September 5 to consider issuing bonus shares in the ratio of 1:1.

2. In a world of many uncertainties, the continued rise of New India is an absolute certainty. No force on earth can now stop our beloved nation's march towards the goal of Viksit Bharat.

3. I am pleased to inform you that this year, Reliance is among the world's Top 50 most valuable corporations. In July 2018, Reliance crossed a $100 billion valuation mark, and in just six years, we have become the first Indian company to cross $250 billion in market value.

4. We are not in the business of pursuing short-term profit and hoarding wealth. We are in the business of creating wealth for India and enhancing the quality of life of every Indian, every single day. 

5. Jio and Retail are expected to double their revenues and EBITDA in the next 3-4 years. I see immense growth potential in our media business. 

6. Our new energy business will be the new jewel in Reliance's crown, I forsee it becoming as big and profitable over the next five to seven years as our O2C business, which we have built over the past 40 years.

7. I warmly welcome Disney to the Reliance family. Like Jio in retail, our expanded media business will be an invaluable growth centre in the Reliance ecosystem. 

8. Green fuels and AI-based solutions will become long-term growth engines for Reliance.

9. Akash, Isha, and Anant have just completed one year as board members. They have stepped up to take on greater responsibilities as first among equals in Reliance's next-generation leadership. It has strengthened my conviction that Reliance's future is in safe hands, and its legacy of superior value creation will continue to flourish.

10. India needs dozens of Reliances so that we can build an inclusively prosperous and fully modern Developed Nation by 2047.