Reliance Industries Ltd (RIL) chairman and managing director (CMD) Mukesh Ambani on Friday unveiled an ambitious long-term roadmap that will see the conglomerate transform all the crude oil it processes into high-value chemicals and advanced materials, while simultaneously building large businesses in clean energy, artificial intelligence, consumer goods and exports.
Addressing shareholders at the company's 49th annual general meeting (AGM), Mr Ambani said Reliance is reinventing its traditional oil-to-chemicals (O2C) business to create a more resilient and profitable growth engine, less vulnerable to geopolitical disruptions and commodity cycles.
"In the long run, we will convert all the crude oil we process into new materials – carbon fibre, speciality materials, green chemicals, and much more," Mr Ambani said.
He added that the transformation would fundamentally improve the quality, resilience and value of Reliance's earnings.
"I am confident that our new oil-to-chemicals & materials business will become even more valuable than our current O2C business," he said.
Reinventing Reliance's Largest Business
The O2C business has long been the backbone of Reliance's earnings, with the Jamnagar refining complex serving as one of the world's largest and most sophisticated refining hubs.
However, Mr Ambani said the company is now moving beyond traditional refining and petrochemicals towards higher-value advanced materials and speciality products.
According to him, the shift will create an entirely new revenue stream while reducing exposure to volatility arising from geopolitical events and fluctuations in global energy markets.
The company plans to leverage its integrated manufacturing ecosystem, feedstock advantages, scale and cost competitiveness to build leadership in materials such as carbon fibre, speciality chemicals and next-generation industrial products.
The move is part of a broader ambition to transform Reliance into what Ambani described as "the world's leading integrated Energy and Materials company for the age of sustainability and intelligence."
Global Partnerships and Expansion Plans
Mr Ambani said Reliance has emerged as a trusted partner for leading global chemicals and materials companies and remains open to flexible partnerships and co-development opportunities in India and overseas markets.
He said Reliance's integrated feedstock model, large-scale manufacturing capabilities, strong execution record and robust balance sheet make it an attractive partner for multinational companies seeking to expand in the chemicals and materials sector.
"India remains one of the most favourable geographies globally for expansion, and Reliance offers our partners a single, secure base to serve both India's large domestic market and global demand," he said.
Industry observers view the strategy as an attempt to position India as a major global manufacturing hub for advanced materials as companies diversify supply chains and seek alternatives to traditional production centres.
New Energy Platform Enters Growth Phase
The second major growth pathway identified by Mr Ambani is Reliance's new energy business, which he said has entered a phase of accelerated commissioning and early revenue generation.
The company has been investing heavily in integrated solar manufacturing, battery storage, green hydrogen and green chemicals.
According to Mr Ambani, Reliance's integrated solar and advanced battery ecosystem is expected to deliver among the world's lowest round-the-clock green power costs.
The platform is also designed to support the creation of one of the world's most competitive green hydrogen and green chemicals ecosystems.
"The upcoming fully integrated green ecosystem will not only transform our old energy business, but also open up significant possibilities for Reliance's and India's future growth," he said.
200,000 Green Jobs
A major highlight of Mr Ambani's address was the employment potential of Reliance's clean energy initiatives.
He said the company's new energy mission is expected to create around 200,000 green jobs through its Giga Complex and the Kutch Solar Farm project.
"That is the number of green jobs we expect to create through the Giga Complex and the Kutch Solar Farm combined. Two hundred thousand Indians – engineers, technicians, operators, construction workers, farmers and entrepreneurs – whose livelihoods will be built on clean energy," Mr Ambani said.
He described the energy transition as a powerful engine of inclusive economic growth that would reduce India's import dependence, boost exports, lower energy costs and contribute to climate goals.
"The world built its old energy on Middle Eastern oil. The world will now build its new energy on Indian sunshine," he said.
Underground Coal Gasification and Bioenergy
Beyond solar and green hydrogen, Mr Ambani highlighted underground coal gasification (UCG) and compressed biogas (CBG) as important future growth drivers.
He said the UCG business has significant long-term potential, while Reliance's bioenergy operations are positioned for large-scale expansion.
The company aims to build what Mr Ambani described as the world's largest bioenergy business by scaling up its CBG operations and integrating them with broader clean-energy initiatives.
Together with O2C, New Energy and materials, these businesses form part of Reliance's evolving energy and industrial ecosystem.
Reliance Intelligence to Lead AI Push
Artificial intelligence represents the third major pillar of Reliance's future growth architecture.
Mr Ambani said AI is emerging as a multi-trillion-dollar global opportunity and that Reliance intends to play a leading role in India's AI ecosystem through what he termed "Reliance Intelligence."
The infrastructure required to support this initiative is being built rapidly and is expected to become fully operational over the next few years.
With investments spanning data centres, digital infrastructure, AI computing capabilities and enterprise applications, Reliance aims to create an integrated AI platform capable of serving businesses, consumers and public institutions.
The initiative complements the group's broader efforts to embed AI across energy, manufacturing, retail and digital services.
FMCG Emerges as New Growth Engine
Mr Ambani also identified the fast-moving consumer goods (FMCG) business as a major future value creator for the group.
He said Reliance aims to build India's largest FMCG company and eventually become one of the largest players globally.
The company has already established a presence across multiple consumer categories and has begun expanding internationally.
According to Mr Ambani, Reliance's FMCG operations have entered markets in Europe and Africa and are expected to expand into additional geographies in the coming years.
He said the FMCG strategy is closely aligned with Reliance Retail's growth plans and supported by the group's manufacturing, distribution and exports infrastructure.
Ambitious Export Target
The fifth pillar of Reliance's future growth strategy is exports.
Mr Ambani said the company intends to leverage its experience as India's largest merchandise exporter to create a globally competitive, multi-sector export platform.
Reliance has set a target of enabling between US$125bn (billion) and US$150bn in exports by 2032, spanning energy, materials, consumer products and other sectors.
The company plans to build a large export ecosystem involving thousands of small, medium and large enterprises, helping expand global markets for Indian-made products.
"Hiring the best talent for this new venture has already begun," Mr Ambani said.
He added that the initiative is designed not only to strengthen Reliance but also to enhance India's economic resilience and export competitiveness.
Five Engines of Future Growth
Summing up Reliance's long-term vision, Mr Ambani said the company now has five integrated engines of growth — underground coal gasification, bioenergy, new energy, oil-to-chemicals and materials.
Combined with artificial intelligence and consumer businesses, these platforms are expected to drive the conglomerate's next phase of expansion.
"With the new energy & materials platform, and an AI-native way of working, Reliance is transforming its oldest business into a unique first-generation growth platform — one that cannot be replicated on technology and scale," he said.
As Reliance prepares for its next phase of growth, the company is seeking to move beyond its traditional identity as an energy and refining giant and position itself at the centre of India's ambitions in advanced manufacturing, clean energy, artificial intelligence and global exports.
