Reliance Industries to List Telecom Arm by 2026, Partners with Meta and Google for AI Development

Mukesh Ambani, a billionaire, has revealed plans to list his group's telecom unit by mid-2026. He also announced collaborations with Meta and Google for AI development and outlined a clean energy roadmap. These initiatives aim to propel his oil-to-telecom conglomerate into its next growth phase. Jio Platforms, valued at over USD 100 billion, is preparing for an initial public offering.

Reliance Industries Ltd's chairman, Ambani, stated, "We are aiming to list Jio by the first half of 2026, subject to all necessary approvals." Jio Platforms includes India's largest telecom operator, Reliance Jio Infocomm, which boasts over 500 million users. Ambani first mentioned the potential listing of Jio in 2019, targeting a five-year timeline.

AI Revolution and Strategic Partnerships

During the annual general meeting, Ambani announced the creation of Reliance Intelligence, an AI unit with strategic partners Alphabet's Google and Meta. He declared, "Jio will herald the AI revolution in India. Our motto is AI Everywhere for Everyone." This move aligns with the company's expansion into clean energy and retail sectors.

Reliance continues to grow its core oil-to-chemicals (O2C) business while rapidly entering the clean energy sector. The company also plans to expand its retail operations. Ambani reiterated a promise made in 2022 to double Reliance's EBITDA by the end of its Golden Decade in 2027. At that time, EBITDA was approximately Rs 1.25 lakh crore (USD 14.6 billion).

Clean Energy and Future Growth

Ambani envisions significant growth in the O2C business as geopolitical tensions ease. He anticipates innovation-driven expansion in Reliance's materials business, producing high-value green fuels and chemicals needed globally. Jio, the world's largest data company, will transition subscribers to 5G and eventually 6G by 2030.

Reliance Retail serves over 300 million Indians monthly and will continue growing in both B2B and B2C markets with a customer-centric omni-channel strategy. However, Ambani's most ambitious plans lie in new and clean energy sectors.

The company invests in producing clean energy components like solar modules, batteries for energy storage, and electrolysers for hydrogen production. Giga factories will produce green hydrogen and derivatives like green ammonia and methanol for domestic and export markets.

New Energy Business Potential

Ambani expressed confidence that the New Energy business will drive growth for decades, potentially matching the scale of the Oil-to-Chemicals business within five to seven years. He stated it would create "unprecedented, perpetual value for both India and Reliance."

The establishment of two new growth engines—Reliance Consumer Products Ltd (RCPL) and Reliance Intelligence—holds potential to surpass existing business segments. RCPL aims to become India's largest FMCG company through India's consumption boom, world-class supply chain, and advanced manufacturing capabilities.

"RCPL's phenomenal growth is guaranteed by the consumption boom in India," Ambani noted. Meanwhile, Reliance's Intelligence business will drive India's AI revolution, enabling widespread AI adoption and positioning the country as a global AI force.

With inputs from PTI