
Indian billionaire Mukesh Ambani may hold the winning ticket in tech and Silicon Valley knows it
CNNMukesh Ambani has spent years trying to turn hisinherited oil businessinto a tech empire. He’s doing that with JioMart, an initiative announced in 2019 to bring online thousands of India’s mom-and-pop stores known as “kiranas.” And Reliance Retail recently acquired one of its biggest Indian rivals, Future Retail, for $3.3 billion — a deal that has kicked off a protracted and complex legal battle with Amazon. In fact, a company spokesperson previously told CNN Business that the name Jio — which means “to live” in Hindi — was chosen in part because it’s a mirror image of the world “oiL.” The bold attempt to transform his $170 billion conglomerate faces a massive test in 2021 asthe Indian economy recovers fromits first recession in nearly a quarter of a century. “It really did come from recognizing that this was a special company that had done pretty amazing work in transforming the digital infrastructure of India in a short period of time.” From Ambani’s perspective, a wide-ranging coalition of some of the biggest names in tech is just a way to further Jio’s command over all aspects of India’s internet. “Given we’re the technology supplier to the industry, we’re I think best equipped to work with Jio both on the device front as well as infrastructure.” Ambani appears ready to leverage the global backing for Jio and Reliance Retail into IPOs, saying in June that he would “move towards listing of both these companies within the next five years.” An IPO for Jio Platforms on Nasdaq could come as soon as 2021, according to several media reports and industry analysts.
History of this topic

Mukesh Ambani, daughter Isha overseeing job, cost cuts at Reliance Retail to push valuation to $125 billion: Report
Hindustan Times)
RIL Chairman Mukesh Ambani pledges Rs 50,000 crore investment in Assam
Firstpost)
RIL Chairman Mukesh Ambani pledges Rs 50,000 crore investment in Assam
Firstpost
Mukesh Ambani Pledges to Double RIL Investments in Bengal by 2030
Deccan Chronicle)
‘Best time to invest’: Mukesh Ambani lauds Bengal’s ‘inclusive, sustainable development model’
Firstpost
Mukesh Ambani announces fresh investment of ₹50,000 crore in West Bengal by 2030
Live Mint
Mukesh Ambani to build world’s largest data centre in Gujarat’s Jamnagar
Live Mint
Mukesh Ambani to build world's largest AI-driven data centre in Jamnagar | Details
Hindustan Times
Mukesh Ambani buys Nvidia AI chips, plans to build largest data centre in India: Report
India Today
Isha Ambani proudly reflects on legacy at Jamnagar Refinery's 25th anniversary celebration
India TV News
Jio partners with Qualcomm to launch an affordable 5G smartphone
India TV News)
Reliance to Build AI Infrastructure in India, Partnering with NVIDIA
Firstpost
Jio has transformed India into largest data market in the world, says Mukesh Ambani at AGM 2024
India Today
Reliance AGM 2024: Reliance to build Gigawatt-scale, AI-ready data centres in Jamnagar, says Mukesh Ambani
India TV News
Forbes Richest Indian List: Mukesh Ambani is number one, Adani at second spot | Check top 10 here
India TV News
Mukesh Ambani rejoins $100 billion club as Reliance stock surges record 2.6%
Live Mint
RIL Eyeing Digital Data Platforms, AI Adoption
Deccan Chronicle
Reliance Jio plans 'Bharat GPT' AI model for India: Everything you need to know
India TV News
'Reliance Industries will invest additional Rs 20,000 cr in West Bengal in three years', says Mukesh Ambani
India TV News
Reliance Partners With Nvidia To Create India's Own Generative-AI LLM: What It Means
ABP News
Mukesh Ambani's groundbreaking AI announcement: A message to OpenAI CEO Sam Altman
Live Mint)
RIL AGM 2023: Mukesh Ambani lists 5 goals that will fulfil dreams of 1.4 billion Indians
Firstpost
Reliance AGM 2023: From financial performance to AI revolution, read full speech
Live Mint
Jio 5G on track to cover entire country by Dec; JioAirFiber to be launched on Ganesh Chaturthi: Mukesh Ambani
The Hindu
Reliance AGM 2023: ‘Jio to lead India-specific AI solutions,’ says Mukesh Ambani while speaking on AI revolution
Live Mint
Mukesh Ambani Hails Network18's 'Great Progress' in Becoming Top News Network, Roots for JioCinema
News 18Reliance AGM 2023: Jio promises AI to everyone, everywhere, says Mukesh Ambani
Hindustan Times
Reliance AGM 2023: ‘We are now a new-age tech company’ says RIL chairman
Live Mint
Reliance AGM 2023: Ambani sets succession plan in motion, unveils Jio AirFiber launch date | Key takeaways
India TV News
Reliance Jio witnesses a remarkable growth with 90 lakh net subscriber additions in Q1 2023
India TV News
Battle of billionaires: Elon Musk’s Starlink eyes India, Mukesh Ambani resists
Live MintReliance Industries' Q4 profit sees 18% year-on-year jump at ₹21,327 crore
Hindustan Times
Zerodha co-founder on India's surging internet user base: ‘Let that sink in’
Hindustan Times
Reliance to set up 10 gigawatt solar energy project in Andhra: Mukesh Ambani
Hindustan Times
Reliance Jio’s 5G rollout to be fastest in the world: Akash Ambani
Live Mint
Reliance to invest ₹75,000 crore in Uttar Pradesh in 4 years: Mukesh Ambani
The HinduJio to complete 5G rollout across UP by Dec: Mukesh Ambani at investors' summit
Hindustan Times
After telecom and retail, what is Mukesh Ambani’s next big plan?
Live Mint
‘$40 trillion economy by 2047’: Mukesh Ambani says India a ‘shining spot’
Hindustan Times
On Reliance Family Day event, Mukesh Ambani reveals RILs big future plans
India TV News
With Mukesh Ambani as chairman for 20 yrs, Reliance....
Hindustan Times
Reliance Jio plans to quickly tighten its fintech ‘DNA loop’
Live Mint)
Reliance Jio formally launches 5G services, launch JioTrue5G powered WiFi services in Nathdwara
Firstpost
‘We were forced to catch up’: Sunil Mittal's praise for Mukesh Ambani
Hindustan Times
Mukesh Ambani says will roll out high quality, more affordable 5G services
Hindustan Times)
‘Affordable for every Indian’: Reliance Jio chief Akash Ambani at launch of 5G mobile services – Firstpost
Firstpost
Jio 5G across India by Dec 2023: Mukesh Ambani
The Hindu
'New era about to begin': Telecom leaders welcome 5G launch | Top Points
India TV News
Akash Ambani Named in Time100 NEXT list; Here's Why The Reliance Jio Chairman Is The Next Big Thing
News 18
Akash Ambani on Time's 100 emerging leaders' list
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