Mumbai, June 24 (IANS) Oil-to-telecom giant Reliance Industries (RIL) has the capacity to catalyse investments of more than $200 billion, RIL Chairman and Managing Director Mukesh Ambani said on Thursday.
Addressing RIL’s annual general meeting (AGM) here on Thursday, Ambani noted that in the last 10 years, Reliance has invested over $90 billion in creating substantial wealth for the nation and value for the shareholders.
“Reliance has the capacity to catalyse investments of over $200 billion directly and through partners. These investments will create value on an exponential scale. They will be based on our disciplined capital allocation approach, preference for pursuing asset light strategies and emphasis on superior investment grade ratings,” he said.
The RIL CMD further said that these investments would create over 10 lakh new employment opportunities, besides fostering thousands of small and medium enterprises across the country.
“I assure you that your company will consistently increase payout to its shareholders as our earnings continue to grow. I am confident that Reliance’s multiple investment and business announcements today will help kick-start growth in the Indian economy,” he said.
Noting that both Jio and Retail are at the beginning of their journey, Ambani said that both have an embedded culture of continuous value creation.
Both have also brought immense benefits to hundreds of millions of consumers by mastering the power of revolutionary new technologies, Ambani added.
“Our O2C business combined with our new energy and materials plan will usher in a new era of exponential growth,” he said.