Ambani’s ‘target setup’ for his 3 children in succession plan

Billionaire Mukesh Ambani He has set goals for his three children, whom he has earmarked for acquisitions in telecom, retail and new energy businesses.

Speaking on the birth anniversary of his father Dhirubhai, celebrated as Reliance Family Day, he said that from oil to telecom to retail conglomerate Reliance Industries Ltd has embarked on a journey of comprehensive self-transformation.

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“When is the end of 2022 Reliance would have passed the halfway point of its golden decade. In five years from now, Reliance will complete its fifty years,” he said in a speech on Wednesday evening.

His speech was released to the media on Thursday.

“I make clear my expectations of leaders and employees in all of my businesses and initiatives,” he said.

His elder son Akash is being groomed to take over the telecom business, and his twin Isha for Retail, Youngest son Anant is being groomed for a new energy business.

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“Under Akash’s chairmanship, Jio is rolling out the world’s best 5G network across India… at speeds that are faster than anywhere else in the world,” Ambani said. “Jio’s 5G deployment will be completed in 2023.”

He wanted Jio Platforms to provide unique digital products and solutions for both the domestic and international markets.

He said the retail business has grown rapidly under Isha.

“It has emerged with the widest and deepest reach in India across all product baskets,” he added. “But I know that all of you on the retail team are capable of pursuing even more ambitious goals and targets.”

Ambani said Reliance is continuing to build out its oil-to-chemicals business.

“New energy is Reliance’s newest start-up business, which has the potential to transform not just the company or the country, but the entire world,” he added. “With Anant joining us in this upcoming next-gen business, we are making rapid progress in getting our Giga Factories ready in Jamnagar.”

He said that from being India’s largest and most valuable corporate, Reliance is now on its way to becoming India’s ‘Greenest’ Corporate.

“Our new energy team has very clear goals. Enable India to achieve energy security and self-sufficiency by reducing import dependence. And remember, you can only do this by being agile and ahead of the technology curve he added.

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