Reliance AGM 2026: What Mukesh Ambani said as Jio turns 10 and crosses 524 million users

At the 49th Annual General Meeting of Reliance Industries, Chairman Mukesh Ambani marked two significant anniversaries: the 10th birthday of Jio and the 20th anniversary of Reliance Retail. He emphasized the leadership roles both entities play within their respective sectors, stating, "Jio completes 10 years of stellar success. Reliance Retail has been a trailblazer for 20 years. Together, we hold our position as the undeniable leader in these categories. When a dedicated company caters to the aspirations of nearly 1.5 billion Indians, there are no limits to what it can achieve." Ambani elaborated on Jio's transformative impact on India's digital landscape, asserting that it has become the cornerstone of the nation's digital and AI revolution. "Jio has revolutionized telecommunications, making connectivity accessible to the masses. We've made voice calls free and high-speed data affordable, enabling digital life for every Indian," he said. He highlighted the broader societal benefits, noting how Jio has empowered students, facilitated small business growth, and connected families, which has helped India rise to become the largest data market in the world. Additionally, Ambani pointed out Jio Platforms' impressive ascent in global innovation rankings, revealing that it has jumped from 340th to 20th place in innovation velocity based on patent filings, according to the latest WIPO report. "We are the only Indian company in the top 20 globally, a testament to the ingenuity of our scientists, engineers, and innovators who make India proud," he stated. On the topic of artificial intelligence, he emphasized the importance of India positioning itself as a creator of technology rather than just a consumer. "India must take the lead in AI development, becoming a creator and global leader rather than relying on innovations from elsewhere," he remarked. Reaffirming the company's commitment to its investors, Ambani underscored the sacred bond Reliance shares with its shareholders, rooted in trust and mutual growth, a value instilled by the late Dhirubhai Ambani. He expressed optimism about Jio's future, assuring investors that they can expect a brighter outlook ahead. In a notable update, Akash Ambani, Chairman of Reliance Jio, revealed that the telecom operator's subscriber count has surpassed 524 million, solidifying its dominance in the Indian telecom sector. He mentioned that Jio's 5G user base has also exceeded 268 million, making it the largest for any single-country operator outside of China. During the fiscal year 2026, Jio added 77 million new subscribers, highlighting the company's robust growth trajectory. Launched in September 2016, Jio has played a pivotal role in reshaping India's telecommunications landscape by making mobile data affordable and accessible. Its introduction disrupted the market by offering free voice calls and low-cost 4G data, significantly lowering the cost of data from ₹250 per GB to less than ₹10 per GB, which in turn accelerated digital adoption across the country. The operator's rapid growth has also driven the rise of online services, including video streaming, digital payments, e-commerce, and online education, making India the world's largest consumer of mobile data. Over the past decade, Jio has transformed from a telecom operator into a comprehensive digital and technology provider, exploring various sectors such as entertainment, cloud computing, and artificial intelligence.