Mumbai (Maharashtra) [India], June 25 : Reliance Industries Chairman and Managing Director Mukesh Ambani on Wednesday said that the conglomerate, through its business, wants to create an impact that touches lives of Indians, recalling his father's philosophy of impacting billions through the business.
In an interview with McKinsey & Company, Ambani stated, "At Reliance, as we've grown, we have realised that technology changes lives. We want to create impact at scale that improves the lives of all Indians. Therefore, businesses of the future will have to be good at harnessing technologies of the future. So, our North Star always has been that our vision and purpose of doing business have to be impacted."
"My father used to say that if you want to start a business to be a billionaire, you are an idiot; you will never get there. If you want to start a business to impact a billion people, then you have a good chance of success, and, as a byproduct, you can make a reasonable amount of money," Ambani said.
Responding to a question about building new businesses, Ambani shared that Reliance works on six very important values. "We think about our first principles for the group as a whole, and then we make an attempt to understand and learn the first principles for every individual business. At the beginning of building any new business, we ask ourselves, "What is the most critical need for India's development, and how can we fulfil it at scale and over a long arc of time?" That remains a fundamental piece of Reliance. We also have no hesitation in believing we can build businesses of the future," Ambani said.
The Reliance Industries Chairman asserted that the conglomerate is building one of the world's largest manufacturing ecosystems for green and clean energy, which covers solar, batteries, hydrogen, bioenergy and much more.
Ambani further added that the big purpose of the company is to solve the complex problems facing society and create wealth for the nation and the people.
Within the AI field, we have created our purpose by saying, "Our big purpose is to solve the complex problems before society and create wealth for the nation and the people. For this, we need not go into the high-risk GPU game. Let's do everything downstream." This has a compelling appeal to many bright minds. As a result, we are attracting the best people," Ambani noted during the interview.
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