Here are the top highlights of Reliance’s 44th Annual General Meeting conducted on 24 June 2021in New Delhi:
Ultra-Affordable 4G JioPhone Next
Reliance has partnered with Google to develop the most affordable feature-rich smartphone in India. As per the announcement, the JioPhone Next will launch on 10th September 2021. Google CEO Sunder Pichai also joined the Reliance AGM meeting for a limited time. He talked about the JioPhone Next and said:
“It is built for India and it will open up new possibilities for millions of new users who will experience the internet for the very first time. And we can’t wait to show you the device later this year.”
Saudi Aramco-RIL Partnership
Reliance Industries Ltd announced that the partnership with Saudi Aramco is in the last stage and it will be formally announced before the end of 2021. To strengthen its operations with Saudi Aramco, RIL has provided an independent Director position to Saudi Aramco chairman and head of the Kingdom’s cash-rich wealth fund PIF, Yasir Othman Al-Rumayyan on the board of Reliance Industries. Saudi Aramco and RIL may have a USD 15 billion deal.
Reliance Collaborates with Google to Rollout 5G
Google has joined hands with RIL’s Reliance Jio to roll out 5G in India. As per the agreement, Jio will utilize Google’s cloud services in all launching 5G throughout India.
Talking about the Google cloud-Jio partnership, RIL’s chairman Mukesh Ambani said:
“Cloud solution is a key area where we are collaborating with Google. Jio will use Google Cloud’s cutting-edge technologies to power Jio’s 5G solutions and for powering the internal needs of key Reliance growth businesses like Reliance Retail, JioMart, JioSaavn, and JioHealth.”
Better connectivity, Affordability, scalability, security, and high performance are some of the key features Reliance Jio expects to achieve via Google cloud services.
Mega Green energy Project
RIL has announced its beginning in the green energy sector with a whopping initial investment of Rs 75,000 crore. With the help of initial investment, RIL plans to build four Giga factories to manufacture and integrate all critical components of a new energy ecosystem.
The much talked Jio Institute is finally going to start its first academic session this year. There was an expectation that it may not start this year due to pandemic but Nita Ambani cleared all doubts and announced that Jio will commence its teaching-learning process in 2021.
Fight against Covid by RIL
Reliance Foundation has achieved remarkable results due to active participation in the covid pandemic. Since the fight against covid is yet not over, Reliance has announced five major missions to tackle covid in India. Those missions are Mission Oxygen, Mission Covid Infra, Mission Anna Seva, Mission Employee Care, and Mission Vaccine Suraksha. Currently, Reliance has helped India in balancing the demand and supply of oxygen by producing 11% of India’s medical-grade oxygen.
In FY2021, Reliance Industries recorded consolidated revenue of Rs 5.4 lakh crores and its profit surged by 34.8% to Rs 53739 crore.
Reliance Foundation Chairman Nita Ambani announced that the firm did not cut employees’ salaries during a pandemic. All benefits including bonuses, extra perks will continue for all despite the covid emergency.
She further announced the following benefits for the employees’ family who died in the covid pandemic:
- For five years, employee salary will be provided to the family.
- Medical cover for a lifetime.
- Free Children’s education up to graduation in India.
- Rs 10 lakhs lum sum help to the family of off-roll employees.