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Mukesh Ambani has completed twenty years at the helm f Reliance Industries (RIL), which has interests in petrochemicals, oil and gas, telecom and retail. As one of the most profitable companies in India, Reliance under Mukesh Ambani has started several new businesses in the past two decades.
Addressing a gathering on the occasion of Reliance Family Day, celebrated on the birthday of the late Dhirubhai Ambani, the founder of the conglomerate, the RIL chairman laid out his vision for the company.
Below is the verbatim transcript of Mukesh Ambani, Chairman and Managing Director of Reliance Industries:
My dear Reliance family, a very good evening to each one of you. Today we have come together to celebrate Reliance Family Day, to pay homage to our founding Chairman and my father Shri Dhirubhai Ambani and to rebel in the spirit of togetherness and oneness as one large Reliance family, Dhirubhai’s family. Today, we reaffirm our commitment to our founder’s core principles that have sustained Reliance - integrity, excellence, empathy, mutual health, sharing, and caring. Years will roll, decades will pass, Reliance will continue to grow bigger and bigger, like the proverbial banyan tree, its branches will spread wider, its roots will go deeper, and it will touch the lives of an ever-increasing number of Indians, enriching them, empowering them, nourishing them, and caring for them. But we will forever remember with gratitude, our founder, who planted the seed of this Vatavruksha 45 years ago. In Hindu tradition, Vatavruksha is noble, it is sacred. Whenever I think of Reliance, and the mission for which my father founded it, I believe there is similarly something noble and sacred about that mission.
Our mission is to make India prosperous, by building world class and world scale businesses, and to bring happiness to the lives of all Indians. Therefore, on Founder’s Day, each year, all of us in the Reliance family, including myself, Nita, Akash, Isha Anant, and all of you should remind ourselves that we are all trustees of this extra ordinary and proud mission. Friends, as you know, we are living through a time when the world is beginning to see the 21st century as India's century. Our honorable Prime Minister Shri Narendra Modi ji has aptly described it as India's Amrit Kaal, the next 25 years are going to be the most transformational in the 5,000-year-old history of India. This is when India is poised to achieve exponential economic growth, we can become a USD 40 trillion economy by 2047, the centenary of our independence in a sustainable and stable manner. This goal is realistic and achievable, because India is blessed with the power of young demography, the power of a mature democracy and the newly acquired power of technology. From an era of shortages, scarcity and widespread poverty, India will enter an era of inclusive prosperity, an abundance of opportunities and unimaginable improvement in the ease of living and quality of life of 1.4 billion Indians. Similarly, at a time when uncertainty, volatility and even regression can be seen in many parts of the world. India is regarded globally as a shining spot. Therefore, I would like every leader and every employee in Reliance to know that destiny has given us an opportunity and a responsibility to make a pivotal contribution to the realization of the enormous promise of India's Amrit Kaal.
Dear Reliance family members, acutely aware of this opportunity and responsibility, Reliance has embarked on a journey of comprehensive self-transformation. The end of 2022 is when Reliance will have crossed the halfway mark of its golden decade. In five years from now, Reliance will complete its 50 years. All of us are proud of what we have achieved so far. But the journey ahead is going to be far more exciting, and more rewarding, but also more challenging.
Let me spell out my expectations from the leaders and employees in all our businesses and initiatives. First, under Akash’s chairmanship, Jio is rolling out the world's best 5G network across India at a pace which is faster than anywhere in the world. Jio’s 5G deployment will be complete in 2023. I heartily congratulate the entire Jio team for further consolidating the number one position in the digital connectivity business. But Jio platforms should now get ready for India's next big opportunity to provide unique digital products and solutions to both domestic and international markets. Since every single village will have 5G connectivity, India has a historic opportunity to completely erase the rural urban divide, which has plagued our country for so long. We can now ensure that no Indian will be deprived of access to high quality education, high quality healthcare and high productivity economic activities. This is how Jio can accelerate India's inclusive development.
Second, under Isha, our retail business has grown rapidly. It has emerged as one with the widest and deepest reach in India across all product baskets. Most significantly, Reliance Retail has created over two lakh new jobs last year, becoming one of India's leading employers. I congratulate the retail team for setting new standards in discipline execution, which is the key to its success. But I know that all of you in the retail team are capable of chasing even more ambitious targets and goals. Like Jio, the growth of our retail business will also have a cascading effect on India's inclusive development. Our young people will have more jobs, our farmers will have higher incomes, our SMEs and large manufacturers will become more productive, and our trader partners will become more prosperous.
Third, we continue to build on our leadership in the O2C (order to cash) business with new capacities and capability. In the upstream exploration and production segment, our team continues to work harder for providing energy security for India. All of us are excited about the media and entertainment business and its integration with digital services that will reinvent the entertainment industry completely. My congratulations to all of you in these enterprises. Keep doing your good work and I am sure you will scale higher summits of success. We are particularly proud of our JWC team that hosted the G20 In Mumbai. And of course, our life sciences team that is going on and charting new paths of innovation.
Fourth, New Energy is Reliance's newest startup business with a potential to transform not just the company or the country, but the entire world. It shows that we care for the planet, we care for all the people on the planet. With Anant joining this upcoming next generation business, we are making rapid progress in getting our giga factories in Jamnagar ready. From being India's largest and most valuable corporate, Reliance is now well on its way to also become India's greenest corporate. The goals before our new energy team are crystal clear, enable India to achieve security and self-sufficiency in energy by reducing dependence on imports. And remember, you can do so only by remaining agile and ahead of the technology curve.
Fifth, 2023 will also be a year of renewal and revitalization for Reliance Foundation. Under Nita’s inspiring leadership, Reliance Foundation is working on even more ambitious, new initiatives in education, healthcare, sports, women empowerment, and ecological and environmental conservation.
Friends, when I look at the state of the world today at the global financial landscape, the technological landscape and the supply chain landscape, I instinctively feel that we are going to see profound, astonishing and unexpected changes in the coming decade, I can clearly see India riding the tsunami of changes and achieving what looked impossible earlier.
Therefore, as India's leading corporate, Reliance has to rise to the call of times and fulfill the nation's expectations. To be able to do so, Reliance has begun implementing two important tasks. First, we are empowering Reliance with new leadership capital, especially with young leadership. Second, we are enriching Reliance with new talent capital. Again, with young talent. We will pay a lot of attention to developing capacity, capability and competence at all levels. I would like all our leaders to accelerate this process throughout the organization, all of us must realize that the next big cycle of growth in Reliance will not be resource driven, but innovation driven. I call upon you to make 2023 a year of bold and pioneering innovations at Reliance. I am sure we will achieve trailblazing successes.
Friends, on Founder’s Day I naturally recall many great qualities of my father, but his one distinctive quality that must forever serve as a beacon for all of us, is his indomitable determination to win, win against all odds and win whatever it takes. But he also taught me and taught all his colleagues that winning in business takes both leadership and teamwork. Both must be developed in a mutually supportive way. You would perhaps appreciate this point better if I illustrate it by giving the example of the recently concluded World Cup football tournament in Qatar. All of you who watched it will agree that the final game was the most thrilling in the history of the sport. But how did Argentina win the cup? It is because of the combination of leadership and teamwork. Messi (Lionel Messi) could not have won the cup on his own. Similarly, the Argentinian team could not have won without Messi 's inspiring leadership. They faltered in the first game, but they did not give up. Ultimately, they won because they were breathing victory, dreaming of victory and doing everything needed to achieve victory until the last penalty shot. They were like the warrior Arjuna who could see nothing but the eye of the bird at which he had pointed his arrow. This is how our founder, Dhirubhai Ambani also built Reliance. Therefore, as we pay tribute to him today, let us further strengthen the winner's mindset in every team and every team member in Reliance.
Talking about the winner's mindset. Let me share with you a thought that has inspired me all my life. It is Swami Vivekanand’s thought Swamiji says take up one idea. Make that one idea your life. Dream of it, think of it, live on that idea. Let the brain, the body, muscles, nerves, every part of your body be full of that idea and just leave every other idea alone. This is the way to success. Let's follow this mantra. It will guarantee success in your personal life, and it will ensure unstoppable success of Reliance in the years to come.
Friends, as we enter the new year, here is another advice from me as the head of your Reliance family - spend more quality time with your loved ones for the growth of your families; spend more quality time with your colleagues for the growth of your teams and spend more quality time with yourself for your self-growth.
I want to see each and every one of you happy and contented, both in the family space and the workspace.
Before I conclude, I must express my regret that we are once again having this year's family day function in an online format. But let me assure you that very soon, we will all get together for a joyful face-to-face celebration, as in the old times.
Finally, on behalf of my mother Kokilaben; Nita, Isha and Anand (Piramal), their twins, who are just born, on November 19, Aadiya and Krishna, the newest members of the family. Akash and Shloka. My grandson Prithvi and Anant and Radhika (Merchant) wish each one of you and every member of your family, a very happy and prosperous New Year and great achievements for the years to come.
Jai Hind, Jai Shri Krishna.