Family matters: Nita Ambani addresses RIL AGM for the 1st time, promises unconditional support in Covid fight; Isha-Akash share Jio 2.0 roadmap

Reliance Industries’ Annual General Meeting is more than just a business affair.

The closely-watched event, attended by the entire Ambani clan – from Kokilaben to twins Akash and Isha - seeps out from the boundaries of being a shareholders’ meet to a family affair, and not just for India’s richest ménage.

With this year’s AGM taking place under the unprecedented circumstances of the Covid-19 pandemic, the company that has been on the forefront of India’s digital movement, took the AGM online.

But even virtually, the family theme played out strong, with the screen often switching from Kokilaben, who was dressed in a pink saree, and Akash-Shloka to Nita and Isha Ambani Piramal. The family members smiled, and applauded as the others chronicled the impressive growth of the company that has become net debt-free ahead of its targeted 2021 deadline.


There were, however, two faces missing from the action. The youngest Ambani, Anant and his rumoured girlfriend Radhika Merchant – who made her AGM debut last year – were absent from the event where the RIL chairman spoke about Jio’s partnership with Facebook in which the social network, last month, picked up a 9.99% stake in Jio Platforms for Rs 43,573.62 crore. There was also mention of the partnership with Microsoft.

But stealing headlines this time was Reliance’s new deal with Google that will see the tech giant invest over Rs 33,737 crore for a 7.7% stake in Jio Platforms.

If last year’s surprise guest was Satya Nadella (via a pre-recorded video), the 43rd AGM saw Google and Alphabet CEO Sundar Pichai deliver a speech, and credit “Reliance Industries, and Jio Platforms in particular, for India's digital transformation.” Going by Pichai’s attire, his speech too seems to have been pre-recorded on Monday, the same day as the sixth edition of 'Google for India' event.

Meanwhile, Mukesh Ambani said that the two companies would jointly develop an entry-level affordable smartphone with the Android operating system that will target the 350 million Indians who are currently using a 2G phone.


A Worthy Debut
The Ambani twins, ‘prince’ Akash and ‘princess’ Isha, as they are addressed by the shareholders, have over the years become a common sight on the AGM podium. The Reliance heir and heiress spoke about Jio Fibre, Jio Mart and also introduced the ambitious mixed reality headset ‘Jio Glass’ that will enable users to conduct holographic video calls with 3D figures of themselves.

Joining her husband and children on stage this year was Nita Ambani – the woman behind Reliance Foundation.

Ambani recently became the only Indian to feature in Town & Country magazine's top global philanthropists of 2020 list alongside Oprah and Tim Cook for the foundation’s work during the pandemic.

Taking to the stage, the 56-year-old spoke about Reliance Foundation’s work over the past few months that included an ‘Anna seva’ and setting up of a Covid-speciality hospital in Mumbai.

She also listed out the foundation’s future plans which include partnering with the government and local municipalities and using Jio’s digital infrastructure to make Covid testing available on a mega-scale across India.

Emphasising on the family’s commitment towards helping the country fight the pandemic, she added, “I can assure you as soon as a Corona vaccine becomes available, we will volunteer by using the same digital distribution and supply chain to ensure that the vaccine reaches every nook & corner of our country.”

There was also a mention of Isha’s growing role at the foundation with Nita saying that her daughter would lead Reliance Foundation into its next decade and increase its impact by 10X.

Mission Planet Earth
In addition to serving the community and country, Mukesh Ambani pledged ‘seva to save planet Earth from the ravages of climate change’.

Ambani said that the first three Industrial Revolutions were based on fossil fuels and disturbed Earth’s natural Carbon Cycle. Adding that we now had the opportunity to use the fourth Industrial Revolution to repair and restore the Carbon Cycle.

The world’s sixth-richest person said that RIL will reinvent its energy business to tackle the climate challenge, and aim to be net carbon-zero by 2035.


Concluding the virtual AGM that lasted over an hour-and-a-half, Mukesh Ambani turned to a quote by Swami Vivekananda, “Arise, awake, and stop not till the goal is reached.”