Reliance Industries AGM 2019: Mukesh Ambani said the retail arm's annual revenue topped Rs 1.3 lakh crore

Reliance Industries conducted its 42nd Annual General Meeting in Mumbai on Monday. Speaking at the event, held at Birla Matushri Sabhagar, chairman and managing director Mukesh Ambani said: "The future of India and the future of Reliance never looked brighter to me than now. Our Prime Minister has set the goal of making India a 5 trillion economy by 2024. I fully agree with the idea." Billionaire Mukesh Ambani made a number of big announcements at the annual event of the oil-to-telecom conglomerate. He said that Saudi oil major Aramco has agreed to take a 20 per cent stake in Reliance Industries' oil refinery and chemical business at an enterprise value of $75 billion (around Rs 5.32 lakh crore). This would be the biggest foreign investment in the history of the company, Mr Ambani said.

Here are the highlights of key announcements made at Reliance Industries' AGM 2019:

Aug 12, 2019 12:48 (IST) Saudi Aramco to invest $75 billion in Reliance Industries, take 20% stake in its oil-to-chemicals (O2C) business: Mukesh Ambani Earlier this month, BP and Reliance had announced the formation of a new joint venture that would include a retail service station network and aviation fuels business across India. Saudi Aramco to invest $75 billion in Reliance Industries, take 20% stake in its oil-to-chemicals (O2C) business: Mukesh AmbaniEarlier this month, BP and Reliance had announced the formation of a new joint venture that would include a retail service station network and aviation fuels business across India.

Aug 12, 2019 12:44 (IST) Nothing gives me greater happiness than to see that #Reliance is now making a bigger and more positive impact, on the lives of more Indians - in multiple ways through business and philanthropy: Mukesh Ambani at #RILAGM - Flame of Truth (@flameoftruth) August 12, 2019

Aug 12, 2019 12:44 (IST) On Reliance Jio, he said:

Voice calls from home to be absolutely free

Lowest fixed line international calls default tariff will be 1/5th or 1/10th of industry tariffs

Jio launches Rs 500 per month unlimited calling plan for US, Canada

Jio Fiber to come bundled with most leading premium OTT applications

Launching offer to watch movie on first day and first show

International roaming at fraction of existing plans

HD/4K set top boxes to be provided for free

Jio has over 6,000 software engineers

Have invested in 14 start-ups



Aug 12, 2019 12:43 (IST) On Jio Fiber, the Reliance Industries chairman said:

Jio FIber aims to empower 2.4 million small and medium businesses

Jio Fiber to be launched with simple and easy-to-understand tariff plan

Jio Fiber to start from Rs 700-Rs 10,000 per month



Aug 12, 2019 12:41 (IST) Consumer business to contribute 50 per cent to the company's consolidated EBITDA, says Reliance Industries chairman Mukesh Ambani

Aug 12, 2019 12:26 (IST) Reliance Foundation has touched the lives of more than 29 million in the country, says Mukesh Ambani

Aug 12, 2019 12:20 (IST) "We have achieved this milestone faster than any other retail company in the world. Our EBITDA (earnings before interest, taxes, depreciation, and amortization) margins are among the best globally," said Mr Ambani, speaking on Reliance Industries' retail arm, Reliance Retail.

Aug 12, 2019 12:20 (IST) Reliance Retail annual revenue crossed Rs 1.3 lakh crore last year: Mukesh Ambani

Aug 12, 2019 12:16 (IST) Reliance Retail has well and truly brought retail revolution to India, says Mukesh Ambani

Aug 12, 2019 12:13 (IST) Today digital technology is transforming every place, every industry, every thing, says Microsoft CEO Satya Nadella Today digital technology is transforming every place, every industry, every thing, says Microsoft CEO Satya Nadella

Aug 12, 2019 12:11 (IST) "Jio and Microsoft have entered into a globally unique long-term alliance to accelerate the digital transformation of our country," said Mukesh Ambani.

Aug 12, 2019 11:59 (IST) Voice calls from home to any Indian operator, mobile or fixed, will be absolutely free forever, said Mr Ambani. Voice calls from home to any Indian operator, mobile or fixed, will be absolutely free forever, said Mr Ambani.

Aug 12, 2019 11:58 (IST) The company plans to reach 20 million residences and 15 million business establishments in 1,600 towns: Mukesh Ambani at the Reliance Industries AGM

The company plans to reach 20 million residences and 15 million business establishments in 1,600 towns: Mukesh Ambani at the Reliance Industries AGM

Aug 12, 2019 11:48 (IST) Reliance Jio Infocomm announces the launch of Jio Fiber Services on a commercial basis on September 5, 2019 - the third anniversary of Reliance Jio's launch. Reliance Jio Infocomm announces the launch of Jio Fiber Services on a commercial basis on September 5, 2019 - the third anniversary of Reliance Jio's launch.

Aug 12, 2019 11:45 (IST) Reliance Jio Infocomm announces the launch of the country's first online multi-player network.

Aug 12, 2019 11:44 (IST) Isha Ambani and Akash Ambani demonstrate Reliance Jio's video calling and video conferencing solution Isha Ambani and Akash Ambani demonstrate Reliance Jio's video calling and video conferencing solution

Aug 12, 2019 11:32 (IST) @reliancejio - Revenues from each of its new growth engines to kick-in within FY 2019-20: Mukesh Ambani at #RILAGM - Flame of Truth (@flameoftruth) August 12, 2019

Aug 12, 2019 11:30 (IST) "As the world moves to renewable energy sources, Reliance Industries moves to create new value," Mr Ambani told the shareholders.

Aug 12, 2019 11:30 (IST) Reliance Industries and BP signed a new venture together; Reliance will get Rs 7,000 crore from BP for this venture.

Aug 12, 2019 11:26 (IST) On the Indian economy, the Reliance Industries chairman said: Fundamentals of the economy are very strong

India is rising

No power on earth can stop India from rising higher

On the Indian economy, the Reliance Industries chairman said:

Aug 12, 2019 11:25 (IST) In a significant new initiative, BP acquired 49% stake in our petro-retail business. Reliance will get Rupees 7,000 crore from BP for this transaction: Mukesh Ambani at #RILAGM - Flame of Truth (@flameoftruth) August 12, 2019

Aug 12, 2019 11:24 (IST) "On September 5 this year, Jio turns three," the Reliance Industries chairman said. "Before Jio, India was data dark... Now India is data shining bright," added Mr Ambani.

Aug 12, 2019 11:23 (IST) Mr Ambani also said that the Prime Minister has set the goal of making India a $5 trillion economy by 2024. "I full agree with the idea. This is necessary."

Aug 12, 2019 11:22 (IST) "We continue to be highest payers of GST as compared to all companies... highest payers of income tax," said Mr Ambani. "The future of India and the future of Reliance never looked brighter to me than now."