RIL aims to be among global top 20 firms, eyes clean energy
MUMBAI: Reliance Industries Ltd (RIL) aims to be among the top 20 companies in the world and become a leading provider of clean energy and solutions to the manufacturing sector as it enters its golden decade, chairman Mukesh Ambani said.
Ambani was speaking at the RIL Family Day celebrations held in Mumbai on December 23 to mark founder Dhirubhai Ambani’s 85th birth anniversary and celebrate the company’s 40 years in existence.
Outlining five goals, Ambani said he expects the younger generation at RIL to achieve them. Ambani said he wants RIL to become a leading global producer of innovative new materials to revolutionise manufacturing and improve the quality of life for people in general and Reliance Jio Infocomm Ltd to digitally transform segments including entertainment, financial services, commerce, manufacturing, agriculture, education and healthcare.
“As we enter our golden decade, we at Reliance are in a unique position to accomplish what very few companies in the world can even dream of. Can Reliance be among the top 20 companies in the world? Yes we can and yes we will,” Ambani said at the gathering of nearly 50,000 employees and their families.
RIL ranks 203rd in terms of revenue, and 110th in terms of profit in Fortune’s Global 500 list of the World’s Largest Corporations. With consolidated revenue of ₹3.3 lakh crore and net profit of ₹29,901 lakh crore for 2016-17, RIL is India’s largest private sector company.
Ambani began his speech by paying tribute to his father Dhirubhai and other leaders who have contributed to the growth of Reliance.
It is because of his father, Ambani said, that Reliance had grown from one employee to over 250,000; from a ₹1,000-crore company to over ₹6 lakh crore; from one city to 28,000 cities and towns, and over 400,000 villages.
RIL’s clean energy initiative could be in collaboration with its exploration and production partner BP Plc. This June, RIL and BP had said that the companies will expand their existing partnership for strategic cooperation on new opportunities across India’s energy sector. In addition to the conventional transportation and aviation fuels retailing, the companies would collaborate on unconventional mobility solutions, addressing electrification, digitisation and disruptive mobility trends.