RELIANCE JIO INFOCOMM

LTD.
EADR-ENTERPRISE ANALYSIS DESK RESEARCH

GAURI VISHWAKARMA
MBA 1ST SEM
Content:

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1.ENTERPRISE HISTORY AND BACKGROUNG :

Reliance Jio Infocomm Limited d/b/a Jio is an

Indian mobile network operator. Owned by Reliance
Industries and headquartered in Navi
Mumbai, Maharashtra, it operates a
national LTE network with coverage across all
22 telecom circles. Jio does not offer 2G or 3G service,
and instead uses voice over LTE to provide voice service
on its network. Jio soft launched on 27 December 2015
(the eve of what would have been the 83rd birthday of
Reliance Industries founder Dhirubhai Ambani), with a
beta for partners and employees, and became publicly
available on 5 September 2016.
On 5 July 2018, fixed line broadband service named
Gigafiber, was launched by the Reliance Industries
Limited's chairman Mukesh Ambani, during the
company's Annual General Meeting.

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History:

In June 2010, Reliance Industries (RIL) bought a 96%

stake in Infotel Broadband Services Limited (IBSL)
for 4,800 crore (US$700 million). Although unlisted, IBSL
was the only company that won broadband spectrum in
all 22 circles in India in the 4G auction that took place
earlier that year. Later continuing as RIL's telecom
subsidiary, Infotel Broadband Services Limited was
renamed as Reliance Jio Infocomm Limited (RJIL) in
January 2013. In June 2015, Jio announced that it would
start its operations all over the country by the end of
2015.However, four months later in October, the
company's spokesmen sent out a press release stating
that the launch was postponed to the first quarter of the
financial year 2016–2017.

Later in July, a PIL filed in the Supreme Court by an NGO

called the Centre for Public Interest Litigation,
through Prashant Bhushan, challenged the grant of pan-
India license to Jio by the Government of India. The PIL
also alleged that Jio was allowed to provide voice
telephony along with its 4G data service, by paying an
additional fees of just 165.8 crore(US$24 million) which
was arbitrary and unreasonable, and contributed to a
loss of ,284.2 crore (US$330 million) to the exchequer.
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 The Indian Department of Telecom (DoT), however,
refuted all of CAG's claims. In its statement, DoT
explained that the rules for 3G and BWA spectrum
didn't restrict BWA winners from providing voice
telephony. As a result, the PIL was revoked, and the
accusations were dismissed

Beta launch

The 4G services were launched internally to Jio's

partners, its staff and their families on 27 December
2015. Bollywood actor Shah Rukh Khan, who is also the
brand ambassador of Jio, kickstarted the launch event
which took place in Reliance Corporate Park in Navi
Mumbai, along with celebrities like musician A R
Rahman, actors Ranbir Kapoor and Javed Jaffrey, and
filmmaker Rajkumar Hirani. The closed event was
witnessed by more than 35000 RIL employees some of
whom were virtually connected from around 1000
locations including Dallas in the US.

Commercial launch

The company commercially launched its services

on 5 September 2016. Within the first month, Jio
announced that it had acquired 16 million
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 subscribers. This is the fastest ramp-up by any
mobile network operator anywhere in the
world. Jio crossed 50 million subscriber mark in
83 days since its launch,] subsequently crossing
100 million subscribers on 22 February 2017. By
October 2017 it had about 130 million
subscribers.

Alliance

In February 2016 Jio announced a global alliance of

Mobile Network Operators which include:
 BT Group
 Deutsche Telekom
 Millicom
 Orange S.A.
 Rogers Communications
 MTS
 Telia Company
 Telecom Italia

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Partnerships

Jio shares spectrum with Reliance Communications. The

sharing deal is for 800 MHz band across seven circles
other than the 10 circles for which Jio already owns. In
September 2016, Jio signed a pact with BSNL for intra-
circle roaming which would enable users of the
operators to use each other's 4G and 2G spectrum
in national roaming mode In February 2017, Jio
announced a partnership with Samsung to work on LTE
- Advanced Pro and 5G.

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2.Organization Structure:

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8
3.Product and services:

JIOPHONE

On 21 July 2017, Jio introduced its first affordable

4G feature phone, powered by KaiOS, named as
JioPhone. The price announced for it is ₹0 with a
security deposit of ₹1500 which can be withdrawn back
by the user by returning the JioPhone at Jio stores only
after three years. This phone was released for beta users
on 15 August 2017 and pre-booking for regular users
started on 24 August 2017.

JioPhone 2
A second model with a QWERTY keyboard, as well as
Facebook, WhatsApp and YouTube applications, was
released in July 2018 for ₹2,999.

4G BROADBAND
The company launched its 4G broadband services
throughout India in September 2016. It was slated to
release in December 2015 after some reports said that
the company was waiting to receive final permits from
the government. Jio offers fourth-generation (4G) data

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 and voice services, along with peripheral services like
instant messaging and streaming movies and music.
The company has a network of more than 250,000 km
of fiber optic cables in the country, over which it will be
partnering with local cable operators to get broader
connectivity for its broadband services. With its multi-
service operator (MSO) licence, Jio will also serve as a
TV channel distributor and will offer television-on-
demand on its network.

LYF SMART PHONES

In June 2015, Jio entered into an agreement with

domestic handset maker Intex to supply 4G handsets
capable of voice over LTE (VoLTE).] However, in
October 2015, Jio announced that it would be launching
its own mobile handset brand named LYF.
On 25 January 2016, the company launched its LYF
smartphone. Series starting with Water 1, through its
chain of electronic retail outlets, Reliance Retail.] Three
more handset models have been released so far, namely
Water 2 Earth 1, [and Flame 1.

JIONET WIFI

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Prior to its pan-India launch of 4G data and telephony
services, Jio has started providing free Wi-Fi hotspot
services in cities throughout India including Surat,
Ahmedabad in Gujarat, and Visakhapatnam in Andhra
Pradesh, Indore, Jabalpur, Dewas and Ujjain[46] in Madhya
Pradesh, select locations of Mumbai in Maharashtra,]
Kolkata in West Bengal,Lucknow in Uttar Pradesh,
Bhubaneswar in Odisha, Mussoorie in Uttarakhand,
Collectorate's Office in Meerut] and at MG Road in
Vijayawada among others.
In March 2016, Jio started providing free Wi-Fi internet to
spectators at six cricket stadiums hosting the 2016 ICC
World Twenty20matches. Jionet was made available in
Wankhede Stadium (Mumbai), Punjab Cricket Association IS
Bindra Stadium (Mohali), Himachal Pradesh Cricket
Association Stadium (Dharamshala), Chinnaswamy Stadium
(Bengaluru), Feroz Shah Kotla (Delhi), and Eden Gardens
(Kolkata) in India. [54]

JIO GIGA FIBER

Jio launched Jio Giga Fibre on 15 August 2018 which

offers high speed broadband, landline and DTH services
at reasonable prices.

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JIO APPS

In May 2016, Jio launched a bundle of multimedia apps

on Google Play as part of its upcoming 4G services.
While the apps are available to download for everyone,
a user will require a Jio SIM card to use them.
Additionally, most of the apps are in
the beta phase. Following is a list of the apps:
 MyJio - manage Jio account and digital services
associated with it
 JioTV - live TV channel service
 JioCinema - online HD video library
 JioChat - instant messaging app
 JioMusic - JioMusic Helps In Listening The Music In
Different Languages And To Save Offline
 Jio4GVoice (earlier, JioJoin) - VoLTE phone
simulator
 JioMags - e-reader for magazines]
 JioXpressNews - news and magazine aggregator
 JioSecurity - security app
 JioCloud - cloud-based backup tool
 JioMoney Wallet - online payments/wallet apps
 JioSwitch - To transfer content Between Android
To Android, Android To iOS, Android To JioPhone,

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 iOS To JioPhone, iOS To iOS And JioPhone To
JioPhone
 JioNet - connect to JioNet Wi-fi

AFFORDABLE 4G PHONES

Reliance Jio has teamed up with Google to manufacture

affordable 4G handsets. These phones will run
exclusively on Jio network. The two companies are also
working on developing software for smart-TV services.
Both were expected to launch in 2017.

JIOFI

Jio has also launched Wi-Fi routers by the name JioFi.

BRANDING AND MARKETING

On December 24, 2015, Bollywood actor Shah Rukh

Khan was appointed as Jio's brand ambassador.

POKÉMON GO

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 Location-based AR game Pokémon Go was launched in
India in December, 2016 in collaboration with Jio in
which hundreds of Jio stores and other Reliance marts
and shopping malls like Reliance Trends and Reliance
Digital became Sponsored PokéStops and Gyms.

RECEPTION OF JIO PRIME

By July, 125.5 million Jio customers had opted for Jio

Prime. The last date for registration to Jio Prime
membership was 31 March 2017. This was extended
until 15 April 2017 along with an introduction of a new
offer, "Jio Summer Surprise", which gave customers
three months of free services. On 6 April 2017, TRAI
advised Jio to withdraw this offer.

ISSUE WITH INCUMBENTS

In September 2016, the Telecom Regulatory Authority of

India (TRAI) summoned Jio and the country's existing
telecom operators like Bharti Airtel, Vodafone, and Idea
Cellular to meet and discuss an issue regarding
interconnection between the operators. This was a
result after Jio complained to TRAI and Department of

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Telecom (DoT) about other operators not honoring their
commercial agreements to let Jio use their network
resources. The company further added that the
operators are trying to sabotage its entry into the
telecom scene. However, DoT dismissed the request and
directed TRAI to help settle the dispute amicably.
Moreover, the Cellular Operators Association of
India (COAI) requested TRAI to include all the operators
in the discussion instead of the three.

The incumbent operators had previously approached

the country's PMO to reiterate their stance they "are in
no way obliged or in any position to entertain Jio's
requests for interconnection points as they do not have
either the network or the financial resources to
terminate the latter's humongous volumes of
potentially asymmetric voice traffic." Responding to
this, Mukesh Ambani, owner of Jio, said, "All operators
have publicly said last week that they will provide this
(interconnect and MNP). So, we are waiting. These are
all great companies. They have their own reputations to
protect. I am confident they won't violate the law."
Commenting about number portability, he added, "The
number belongs to the consumer. No operator can
cause trouble if they want to change
operators. “However, on 12 September 2016, Idea
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 Cellular agreed to allow Jio to use 196 of its
interconnection access points.

ALLEGED SUBSCRIBER DATA BREACH

On July 10, 2017, Reliance Jio's customer data was

allegedly leaked on the website magicapk.com. The
website was suspended shortly after the news of the
breach broke out.

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4. FINANCIAL:
Independent Auditor’s Report
To The Members of Reliance Jio Infocomm Limited
Report on the Standalone Ind AS Financial Statements
We have audited the accompanying standalone Ind AS
financial statements of Reliance Jio Infocomm Limited (“the
Company”), which comprise the Balance Sheet as at 31st
March, 2018, and the Statement of Profit and Loss (including
Other Comprehensive Income), the Cash Flow Statement and
the Statement of Changes in Equity for the year then ended,
and a summary of the significant accounting policies and
other explanatory information(herein after referred to as
“standalone Ind AS financial statements”).
Management’s Responsibility for the Standalone Ind AS
Financial Statements
The Company’s Board of Directors is responsible for the
matters stated in Section 134(5) of the Companies Act, 2013
(“the Act”) with respect to the preparation of these
standalone Ind AS financial statements that give a true and
fair view of the financial position, financial performance
including other comprehensive income, cash flows and
changes in equity of the Company in accordance with the
accounting principles generally accepted in India, including
the Indian Accounting Standards (Ind AS) prescribed under
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section 133 of the Act. This responsibility also includes
maintenance of adequate accounting records in accordance
with the provisions of the Act for safeguarding the assets of
the Company and for preventing and detecting frauds and
other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that
are reasonable and prudent; and design, implementation
and maintenance of adequate internal financial controls, that
were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the
preparation and presentation of the standalone Ind AS
financial statements that give a true and fair view and are
free from material misstatement, whether due to fraud or
error
Auditor’s Responsibility
Our responsibility is to express an opinion on these
standalone Ind AS financial statements based on our audit.
In conducting our audit, we have taken into account the
provisions of the Act, the accounting and auditing standards
and matters which are required to be included in the audit
report under the provisions of the Act and the Rules made
thereunder. We conducted our audit of the standalone Ind
AS financial statements in accordance with the Standards on
Auditing specified under Section 143(10) of the Act. Those
Standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable
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assurance about whether the standalone Ind AS financial
statements are free from material misstatement. An audit
involves performing procedures to obtain audit evidence
about the amounts and the disclosures in the standalone Ind
AS financial statements. The procedures selected depend on
the auditor’s judgment, including the assessment of the risks
of material misstatement of the standalone Ind AS financial
statements, whether due to fraud or error. In making those
risk assessments, the auditor considers internal financial
control relevant to the Company’s preparation of the
standalone Ind AS financial statements that give a true and
fair view in order to design audit procedures that are
appropriate in the circumstances. An audit also includes
evaluating the appropriateness of the accounting policies
used and the reasonableness of the accounting estimates
made by the Company’s Directors, as well as evaluating the
overall presentation of the standalone Ind AS financial
statements. We believe that the audit evidence obtained by
us is sufficient and appropriate to provide a basis for our
audit opinion on the standalone Ind AS financial statements.
Opinion
In our opinion and to the best of our information and
according to the explanations given to us, the aforesaid
standalone Ind AS financial statements give the information
required by the Act in the manner so required and give a
true and fair view in conformity with the accounting
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principles generally accepted in India, of the state of affairs
of the Company as at 31st March, 2018, and its profit, total
comprehensive income, its cash flows and the changes in
equity for the year ended on that date
Report on Other Legal and Regulatory Requirements
1. As required by Section 143(3) of the Act, we report, to the
extent applicable that:
a) We have sought and obtained all the information and
explanations which to the best of our knowledge and belief
were necessary for the purposes of our audit
b) In our opinion, proper books of account as required by
law have been kept by the Company so far as it appears from
our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss
including Other Comprehensive Income, the Cash Flow
Statement and Statement of Changes in Equity dealt with by
this Report are in agreement with the relevant books of
account.
d) In our opinion, the aforesaid standalone Ind AS financial
statements comply with the Indian Accounting Standards
prescribed under section 133 of the Act.
e) On the basis of the written representations received from
the directors as on 31st March, 2018 taken on record by the

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Board of Directors, none of the directors is disqualified as on
31st March, 2018 from being appointed as a director in
terms of Section 164(2) of the Act
f) With respect to the adequacy of the internal financial
controls over financial reporting of the Company, refer to
our separate Report in “Annexure A”. Our report expresses
an unmodified opinion on the adequacy and operating
effectiveness of the Company’s internal financial controls
over financial reporting.
g) With respect to the other matters to be included in the
Auditor’s Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, in our opinion
and to the best of our information and according to the
explanations given to us:
i. The Company has disclosed the impact of pending
litigations on its financial position in its standalone Ind AS
financial statements as referred to in Note 31(I)(i) to the
standalone Ind AS financial statements;
ii. The Company has made provision, as required under the
applicable law or accounting standards, for material
foreseeable losses, if any, on long-term contracts including
derivative contracts;

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iii. There are no amounts which were required to be
transferred to the Investor Education and Protection Fund
by the Company.
2. As required by the Companies (Auditor’s Report) Order,
2016 (“CARO 2016”) issued by the Central Government in
terms of Section 143(11) of the Act, we give in “Annexure B”
a statement on the matters specified in paragraphs 3 and 4
of CARO 2016.

ANNEXURE “A” TO THE INDEPENDENT AUDITOR’S

REPORT
Report on the Internal Financial Controls Over Financial
Reporting under Clause (i) of Sub-section 3 of Section
143 of the Companies Act, 2013 (“the Act”)
We have audited the internal financial controls over
financial reporting of Reliance Jio Infocomm Limited (“the
Company”) as of 31st March, 2018 in conjunction with our
audit of the standalone Ind AS financial statements of the
Company for the year ended on that date
Management’s Responsibility for Internal Financial
Controls
The Company’s management is responsible for establishing
and maintaining internal financial controls based on the

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internal control over financial reporting criteria established
by the Company considering the essential components of
internal control stated in the Guidance Note on Audit of
Internal Financial Controls over Financial Reporting issued
by the Institute of Chartered Accountants of India (the
“Guidance Note”). These responsibilities include the design,
implementation and maintenance of adequate internal
financial controls that were operating effectively for
ensuring the orderly and efficient conduct of its business,
including adherence to company’s policies, the safeguarding
of its assets, the prevention and detection of frauds and
errors, the accuracy and completeness of the accounting
records, and the timely preparation of reliable financial
information, as required under the Companies Act, 2013.
Auditor’s Responsibility
Our responsibility is to express an opinion on the Company’s
internal financial controls over financial reporting based on
our audit. We conducted our audit in accordance with the
Guidance Note and the Standards on Auditing prescribed
under Section 143(10) of the Companies Act, 2013, to the
extent applicable to an audit of internal financial controls.
Those Standards and the Guidance Note require that we
comply with ethical requirements and plan and perform the
audit to obtain reasonable assurance about whether
adequate internal financial controls over financial reporting
was established and maintained and if such controls
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operated effectively in all material respects. Our audit
involves performing procedures to obtain audit evidence
about the adequacy of the internal financial controls system
over financial reporting and their operating effectiveness.
Our audit of internal financial controls over financial
reporting included obtaining an understanding of internal
financial controls over financial reporting, assessing the risk
that a material weakness exists, and testing and evaluating
the design and operating effectiveness of internal control
based on the assessed risk. The procedures selected depend
on the auditor’s judgement, including the assessment of the
risks of material misstatement of the financial statements,
whether due to fraud or error. We believe that the audit
evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on the Company’s
internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over Financial
Reporting
A company’s internal financial control over financial
reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles.
A company’s internal financial control over financial
reporting includes those policies and procedures that (1)
pertain to the maintenance of records that, in reasonable
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detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide
reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles,
and that receipts and expenditures of the company are being
made only in accordance with authorizations of
management and directors of the company; and (3) provide
reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use, or disposition of
the company’s assets that could have a material effect on the
financial statements.
Inherent Limitations of Internal Financial Controls over
Financial Reporting
Because of the inherent limitations of internal financial
controls over financial reporting, including the possibility of
collusion or improper management override of controls,
material misstatements due to error or fraud may occur and
not be detected. Also, projections of any evaluation of the
internal financial controls over financial reporting to future
periods are subject to the risk that the internal financial
control over financial reporting may become inadequate
because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.
Opinion

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In our opinion, to the best of our information and according
to the explanations given to us, the Company has, in all
material respects, an adequate internal financial controls
system over financial reporting and such internal financial
controls over financial reporting were operating effectively
as at 31st March, 2018, based on the internal control over
financial reporting criteria established by the Company
considering the essential components of internal control
stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the Institute of
Chartered Accountants of India
ANNEXURE “B” TO THE INDEPENDENT AUDITORS’
REPORT
(Referred to in paragraph 2, under ‘Report on Other Legal
and Regulatory Requirements’ section of our Report of even
date)
I. In respect of its fixed assets:
a) The Company has maintained proper records showing
full particulars including quantitative details and situation of
fixed assets on the basis of available information.
b) As explained to us, all the fixed assets have been
physically verified by the management in a phased
periodical manner, which in our opinion is reasonable,
having regard to the size of the Company and nature of its

26
assets. No material discrepancies were noticed on such
physical verification.
c) According to the information and explanations given to us
and the records examined by us and based on the
examination of the registered sale deed / transfer deed /
conveyance deed provided to us, we report that, the title
deeds, comprising all the immovable properties of land and
buildings which are freehold, are held in the name of the
Company as at the balance sheet date. In respect of
immovable properties of land and buildings that have been
taken on lease and disclosed as fixed asset in the financial
statements, the lease agreements are in the name of the
Company, where the Company is the lessee in the agreement
ii. Having regard to the nature of Company’s
business/activities during the year, clause (ii) of paragraph 3
of CARO 2016, regarding physical verification of inventory, is
not applicable to the Company.
iii. In our opinion and according to the information and
explanations given to us, the Company has not granted any
loans, secured and unsecured, to companies, firms, Limited
Liability Partnerships or other parties covered in the
register maintained under section 189 of the Companies Act,
2013. Accordingly, clause (iii) of paragraph 3 of CARO 2016
is not applicable to the Company.

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iv. In our opinion and according to the information and
explanations given to us, the Company has complied with the
provisions of Sections 185 and 186 of the Companies Act,
2013 in respect of grant of loans, making investments and
providing guarantees and securities.
v. According to the information and explanations given to
us, the Company has not accepted any deposit from the
public. Therefore, the provisions of Clause (v) of paragraph 3
of CARO 2016 are not applicable to the Company.
vi. According to the information and explanations given to
us, the Companies (Cost Records and Audit) Rules, 2014, as
amended and specified by the Central Government under
Section 148(1) of the Companies Act, 2013 are not
applicable to the Company. Accordingly, clause (VI) of
paragraph 3 of CARO 2016 is not applicable to the Company.
Vii. In respect of statutory dues:
a) According to the records of the Company, undisputed
statutory dues including Provident Fund, Employees’
State Insurance, Income Tax, Sales Tax, Service Tax, Duty
of Customs, Duty of Excise, Value Added Tax, Cess and
other material statutory dues, as applicable to the
Company, have generally been regularly deposited with
the appropriate authorities. According to the information
and explanations given to us, no undisputed amounts
payable in respect of the aforesaid dues were outstanding
28
 as at 31st March, 2018 for a period of more than six
months from the date of becoming payable
b) There are no dues of Income Tax, Sales Tax, Service Tax,
Duty of Customs, Duty of Excise and Value Added Tax
which have not been deposited as on 31st March, 2018 on
account of disputes.
viii. In our opinion and according to the information and
explanations given to us, the Company has not defaulted in
the repayment of loans or borrowings to banks and
government and dues to debenture holders.
ix. In our opinion and according to the information and
explanations given to us, monies raised by way of term loans
have, prima facie, been applied by the Company during the
year for the purposes for which they were raised. The
Company has not raised monies by way of initial public offer
or further public offer (including debt instruments).
x. In our opinion and according to the information and
explanations given to us, no fraud by the Company or no
material fraud on the Company by its officers or employees
has been noticed or reported during the year.
xi. In our opinion and according to the information and
explanations given to us, the Company has paid/provided
managerial remuneration in accordance with the requisite
approvals mandated by the provisions of section 197 read
with Schedule V to the Companies Act, 2013.
29
 xii. The Company is not a Nidhi Company and hence
reporting under clause (xii) of paragraph 3 of CARO 2016 is
not applicable.
xiii. In our opinion and according to the information and
explanations given to us the Company is in compliance with
Section 177 and 188 of the Companies Act, 2013, where
applicable, for all transactions with the related parties and
the details of related party transactions have been disclosed
in the financial statements as required by the applicable
accounting standards.
xiv. During the year the Company has not made any
preferential allotment or private placement of shares or
fully or partly convertible debentures and hence reporting
under clause (xiv) of paragraph 3 of CARO 2016 is not
applicable to the Company.
xv. In our opinion and according to the information and
explanations given to us, during the year, the Company has
not entered into any non-cash transactions with its directors
or persons connected with him and hence provisions of
section 192 of the Companies Act, 2013 are not applicable.
xvi. In our opinion and according to information and
explanations provided to us, the Company is not required to
be registered under section 45-IA of the Reserve Bank of
India Act, 1934.

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31
Balance Sheet as at 31st March, 2018

32
Statement of Profit and Loss for the year ended
31st March, 2018

33
Statement of Changes in Equity for the year ended
31st March, 2018

34
Cash Flow Statement for the year ended 31st
March, 2018

35
Cash Flow Statement for the year ended 31st
March, 2018 (Continued)

36
4.GOVERNANCE:
Mr. Mukesh D. Ambani (DIN 00001695) is a Chemical
Engineer from the Institute of Chemical Technology, Mumbai
(erstwhile the University Department of Chemical
Technology, University of Mumbai). He pursued an MBA
from Stanford University in the US. He has been on the Board
of Reliance since 1977. He initiated Reliance’s backward
integration journey – from textiles to polyester fibres and
further onto petrochemicals and petroleum refining, and
going upstream into oil and gas exploration and production.
He created multiple new world-class manufacturing facilities
involving diverse technologies that have raised Reliance’s
petrochemicals manufacturing capacities from less than a
million tonnes to about 21 million tonnes per year.

In the late nineties, Mr. Mukesh Ambani spearheaded the

creation of the world’s largest grassroots petroleum refinery
at Jamnagar in Gujarat, India, with a capacity of 660,000
barrels per day (33 million tonnes a year), and integrated it
with petrochemicals, power generation, port and related
infrastructure. Further, he steered the setting up of another
580,000-barrels-per-day refinery next to the first one in
Jamnagar. With an aggregate refining capacity of 1.24 million
barrels of oil per day at a single location, Jamnagar has
become the refining hub of the world.
37
He also led Reliance’s development of infrastructure
facilities and implementation of a pan-India organized retail
network spanning multiple formats and supply chain
infrastructure. Today, Reliance Retail is the largest organised
retail player in India. He has created global records in
customer acquisition for Jio, Reliance’s digital services
initiative. He led and established one of the world’s most
expansive 4G broadband wireless network offering end-to-
end solutions that address the entire value chain across
various digital services in key domains of national interest,
such as education, healthcare, security, financial services,
government-citizen interfaces, and entertainment.

Mr. Mukesh Ambani is a member of the Prime Minister’s

Council on Trade and Industry, Government of India, and the
Board of Governors of the National Council of Applied
Economic Research, India. He is the Chairman of the Board of
Governors, Pandit Deendayal Petroleum University in
Gujarat. He is a Board Member of the Interpol Foundation,
and a member of The Foundation Board of the World
Economic Forum.
Mr. Ambani is also a member of the following forums:
- Indo-U.S. CEOs’ Forum

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- India Advisory Council of the British Asian Trust (as
Chairman)
- International Advisory Council of the Brookings
- McKinsey & Company International Advisory Council
- Global Advisory Council of Bank of America
- The Business Council
- India Advisory Group of the London School of Economics

Mr. Mukesh Ambani is an elected Foreign Member of the

prestigious United States National Academy of Engineering.
Only nine other Indians have received this honor. He is the
Chairman of Reliance Jio Infocomm Limited and Reliance
Retail Ventures Limited, and a Director of Reliance
Foundation and Reliance Europe Limited. At Reliance
Industries, he is the Chairman of the Board of Directors and
Finance Committee.

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Chairman's Awards
2017
Only Indian to be featured on Forbes Global Game Changers List

2017
Economic Times Business Leader of the Year

2016
Foreign Member – US National Academy of Engineering

2016
Other Gold Medal – Chemical Heritage Foundation, USA

2016
Doctor of Philosophy (Honoris Causa) – Indian Institute of
Technology, Roorkee

2015
Honorary Doctor of Science – Institute of Chemical Technology,
Mumbai

2013
‘Entrepreneur of the Decade’ – All-India Management Association

2013
‘Global Challenger’ – Boston Consulting Group

2013

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One of ‘25 Greatest Global Living Legends’ – NDTV

2011
One of ‘100 Most Influential People in the World’- TIME magazine

2010
5th best performing CEO in the world - Harvard Business Review
ranking of top 50 global CEOs

2010
Businessman of the Year - Financial Chronicle

2010
Business Leader of the Year - NDTV India

2010
Global Leadership Award - Business Council for International
Understanding

2010
School of Engineering and Applied Science Dean's Medal - University
of Pennsylvania

2000
Ernst & Young Entrepreneur of the Year

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