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

Reliance Industries Chairman and Managing Director Mukesh Ambani used the company's 49th Annual General Meeting (AGM) to celebrate two major milestones — the completion of 10 years of Jio and 20 years of Reliance Retail — while reiterating his vision for India's leadership in artificial intelligence.

Calling both businesses category leaders, Ambani said, "Jio completes 10 years of stellar success. Reliance Retail completes 20 years as a trailblazer. In both businesses, we remain the unbeatable Number One. When a patriotic, high-performance company consistently serves the aspirations of nearly 1.5 billion Indians, there is no limit to what it can achieve."

Jio's decade-long journey

Highlighting Jio's role in India's digital transformation, Ambani said, "Jio completes 10 years of stellar success becoming the primary enabler of India's digital and AI revolution. Reliance Retail completes 20 years as a trailblazer, becoming the catalyst of India's organised retail revolution. In both businesses, we remain the unbeatable number one."

He added that Jio transformed the telecom landscape by making connectivity accessible to millions.

"Jio made voice calls free, made high-speed data affordable and made digital life possible for every Indian," Ambani said.

He further noted, "Jio empowered students to learn, small businesses to grow, families to connect, entrepreneurs to dream and helped India become the world's largest data market."

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Jio among world's top innovators

Ambani also highlighted Jio Platforms' rapid rise in global innovation rankings.

According to him, "According to the latest WIPO report, Jio Platforms has jumped from rank 340 to 20 in just one year in innovation velocity through patents - the only Indian company in the top 20 globally. Our brilliant team of scientists, engineers and innovators have made India proud."

AI vision for India

Speaking about artificial intelligence, Ambani stressed the need for India to become a creator rather than merely a consumer of emerging technologies.

"India should not be a mere consumer of AI created elsewhere. It should be a creator, adopter and global leader in AI," he said.

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Commitment to shareholders

Emphasising Reliance's relationship with its investors, Ambani said, "The relationship Reliance shares with its shareholders is a deep and sacred one, founded on pride, trust, respect and shared growth - a commitment that was deeply personal to Dhirubhai Ambani and remains equally sacred to me."

He also expressed confidence about the future of the telecom business, saying, "I assure you, and all prospective new investors, that a brighter future awaits Jio."

Jio crosses 524 million users

Reliance Jio Chairman Akash Ambani also shared key milestones achieved by the telecom operator.

According to Akash Ambani, Jio's subscriber base has crossed 524 million, further cementing its leadership position in India's telecom market.

He added that the company's 5G user base has exceeded 268 million, making it the largest for any single-country operator outside China. Jio added 77 million net subscribers during FY26, he said.

With Jio entering its second decade and Reliance Retail completing two decades, the Ambani family used the AGM to underscore the group's ambitions in digital services, retail and artificial intelligence.

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Jio's digital revolution

Launched in September 2016, Reliance Jio Infocomm transformed India's telecommunications landscape and sparked a digital revolution by making mobile data affordable and widely accessible.

When Mukesh Ambani unveiled Jio on September 5, 2016, the company disrupted the industry with free voice calls and low-cost 4G data services. At a time when internet access remained expensive and digital penetration was limited, Jio's entry triggered an intense price war that drove down data costs from around ₹250 per GB to less than ₹10 per GB, bringing millions of Indians online and accelerating the country's digital adoption.

The telecom operator's rapid expansion also reshaped consumer behaviour, fuelling the rise of video streaming, digital payments, e-commerce and online education. Today, India is the world's largest consumer of mobile data, a shift that industry experts largely attribute to Jio's disruptive entry.

Over the past decade, Jio has evolved from a telecom operator into Reliance Industries' digital and technology arm, with businesses spanning connectivity, entertainment, cloud computing, commerce, artificial intelligence and enterprise services.

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