Reliance is ending up being deep-tech firm, states Chairman Mukesh Ambani

The Reliance Industries Limited (RIL) is ending up being a deep-tech firm, stated Chairman Mukesh Ambani.

Speaking at the 47th Annual General Meeting (AGM) of Reliance on Thursday, Ambani stated the RIL invested over Rs 3,643 crore ($ 347 million) in FY 24 in the direction of r & d. He additionally stated that it indicated that the RIL’s R&D expense totaled up to over Rs 11,000 ($ 1.5 billion) in the previous 4 years.

Ambani stated, “We have more than 1,000 scientists and researchers working on critical research projects across all our businesses.”

Ambani stated the RIL declared 2,555 licenses in 2023-24. He stated the licenses were submitted mostly in the locations of bio-energy developments, solar and various other eco-friendly power resources, high-value chemicals, and different electronic modern technologies.

On the rear of technical developments, Ambani stated that the tech-driven makeover will certainly result in RIL having hyper-growth that will increase its worth.

“Digital is another principal area of our in-house research. We have filed patents in 6G, 5G, AI-Large Language Models, AI-Deep Learning, Big Data, Devices, Internet of Things, and Narrowband-IoT. I assure you that this ongoing tech-driven transformation of Reliance will propel your company into a new orbit of hyper-growth and multiply its value for years to come,” stated Ambani.