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Ambani vows to position Reliance among top 10 global conglomerates

In the era of digital platforms, Reliance boss marks out data as a new factor of production, along with talent and money

Ambani vows to position Reliance among top 10 global conglomerates

Reliance Industries Ltd chairman Mukesh Ambani vowed the position the oil-to-telecom conglomerate among the top 10 business conglomerates of the world as he highlighted the importance of focusing on AI and data to become a new-age technology company and expanding the talent pool of youth.

In an address to employees on Reliance Family Day, which marks the birth anniversary of the conglomerate’s founder Dhirubhai Ambani, he underlined his vision for the future saying that the group will never be complacent and will stick to its motto of “Growth is Life”.

“Today, the domestic and global environments for business are changing very fast. There is simply no room for complacency. We are known for disrupting the market through constant innovation and reinvention. We have shown the courage to set the bar high, and the ability to jump even higher to create new records.  This is how Reliance has achieved perennial growth. And that is how we have remained true to our motto – Growth is Life. Let us follow this winning formula with greater confidence and consistency,” he said.

Reflecting on his tenure at the helm of Reliance, Ambani told his staff: “For me, it has been my life’s honour to lead Reliance for over two decades now. If leading Reliance is my pride, working with all of you has been my privilege. You are an army of immensely talented individuals who work wonders day in and day out with grit and discipline. I am proud of each one of you. You are my perpetual recharge battery. Each single day, you renew my enthusiasm, boost my energy, and validate the purpose for which our founder established Reliance. I am deeply grateful to each and every one of you for your contribution to Reliance.”

Looking to the future, he sought direct the conglomerate’s focus on three vital areas as it sets sights on positioning itself among the top 10 business conglomerates of the world.

“One: We must always provide extreme value to our customers. We must unfailingly exceed their expectations, through collaboration and systems improvement. Our efforts have won us unprecedented customer love for all our business, over the years. In the coming years, we must continue to strive even harder to develop products and services that no one has created ever before. We must continue to delight the customers, and reinforce their belief that Reliance provides immense value to their lives,” Ambani said.

“Two: All our actions must always win community first. Dhirubhai has taught us that continuously winning the trust of the communities that we operate in is an essential part of our businesses. Trust is that hard-won intangible asset that transforms commerce into culture. Trust elevates a momentary business transaction to an enduring heart-to-heart relationship. Through all our businesses, and through the rapidly expanding activities of Reliance Foundation, let us make Reliance No. 1 corporate on the parameter of customer love and community trust,” the top Reliance boss said.

“Three: For enhancing customer love and community trust, we must continuously enrich competencies and capabilities at the individual level, the team level, the business level, and at the organizational level. Businesses grow exponentially when individuals and teams display clarity of goals and flawless execution. When all our businesses grow exponentially, we can contribute more to India’s inclusive prosperity, and make the world a better place,” he added.

Ambani laid emphasis on three focus areas for the conglomerate in the new year: leveraging data and AI, enriching talent and inculcating institutional culture.

“As Reliance reinvents itself to become a unique new-age tech company, we need to boldly embrace data and AI to become better at decision-making and resource utilization. In the era of digital platforms, data has become a new factor of production along with talent and money. We need to be at forefront of using data, with AI as an enabler for achieving a quantum jump in productivity and efficiency. All our growth engines will have to complete this transformation by the time we meet next year,” Ambani said.

“In order to make Reliance an AI-immersive tech company, we need to further build the necessary talent, skillsets and competencies at all levels within our organization. We should expand and deepen our talent pool to be among the best in the world. Investment in talent brings higher returns than investment in machines. Therefore, let us execute talent enrichment at all levels in Reliance on a mission mode,” he said.

On inculcating institutional culture, Ambani said, “The most important tenet of Reliance’s institutional culture is to work with the founder’s mindset. Each and every one of you becomes an owner of Reliance when you own the founder’s purpose and passion. I am so happy to see that our young colleagues in the 30-plus age group have been working with the same enthusiasm and determination to succeed, which our founder and his colleagues had at the inception of Reliance. I also deeply appreciate that all the senior and middle-level leaders in Reliance are now discharging their responsibility of: trusting, empowering and mentoring the young,” Ambani said.

“Young leaders will commit mistakes. That’s for sure. But my advice to them is simple: Do not waste your energy on conducting a post-mortem on past mistakes. Rather, learn not to repeat the same mistakes. More importantly, be bold, courageous and adventurous in pursuing your present and future goals. In doing so, always support one another. For what we can achieve together is always immensely greater than what one can achieve individually and in isolation,” he added.

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