Reliance Industries Chairman Mukesh Ambani recently shared deep insights on the bold decision to launch Jio, the group’s push into deep-tech, and the crucial challenge facing India’s next generation. In an exclusive interview with McKinsey Asia Chairman Gautam Kumra, Ambani described Jio as the biggest risk he had taken as head of the conglomerate.
Why Jio Was a Bold Gamble
Ambani revealed that when Reliance launched Jio, the company relied entirely on its internal funds—a significant leap considering many believed India wasn’t yet ready for cutting-edge digital connectivity. The critics felt the infrastructure and consumer readiness lagged behind.
Despite the skepticism, Reliance envisioned a digitally empowered India, which led to the creation of one of the largest 4G networks in the world. Today, Jio connects over 450 million users and has become the foundation for digital transformation across sectors—from fintech and healthtech to agriculture.
Deep-Tech and the Next Growth Frontier
Ambani emphasized that the future belongs to businesses that can harness technologies of the future. This includes AI, quantum computing, biotechnology, and space-tech. He described how Reliance is pushing toward being a deep-tech innovator, particularly through partnerships and in-house research.
“Our North Star has always been impact-led innovation,” he said, stressing the importance of building businesses that don’t just generate profit but also create value and empowerment at scale.
Challenge Before India’s Youth
Ambani believes that the biggest challenge facing India is whether the upcoming generation will have the confidence and capability to succeed in a world where technology is evolving faster than ever before. “We need to ensure our youth are not just tech consumers but also tech creators,” he said.
He also called for a stronger national focus on STEM education, digital skills training, and innovation ecosystems to keep India competitive in the global technology race.
Vision: Impact Over Profit
Ambani concluded that Reliance will continue to invest in technologies that help democratize access, improve livelihoods, and drive sustainability. “For us, business is about making lives better, and that will always guide our choices,” he said.
This interview sheds light on how India’s largest conglomerate is preparing for the next wave of disruption—and how it expects India’s youth to lead it.
