Reliance consolidated balance sheet, ready for next level of growth: Ambani

New Delhi: Reliance Industries Ltd has consolidated its balance sheet after the previous round of capex and is ready for the next level of growth, its chairman and managing director Mukesh Ambani said outlining plans from net zero to roll-out of True5G telecom network and retail.

In the firm's latest annual report, he said in the world of volatility and uncertainty, India is shining as a beacon of stability and prosperity.

India's most valuable company which over the past decade added telecom, retail and finance to its corre business of oil and chemicals, is now pivoting a green pathway, targeting net zero carbon emissions from its operations by 2035.

Ambani said the launch of Jio 4G mobile telephony services in 2016 "turned a data dark India into a data rich nation, supplying every Indian home with affordable, high-speed 4G data".

"And this year, Jio has further enhanced the country's digital infrastructure by rolling out its True5G network across India in world-record time," he said.

On retail, he said as India's largest retailer, Reliance Retail is perfectly positioned to serve the consumption needs of fast-growing economy.

While its all-encompassing range of products gains traction, its new commerce initiative is not just home deliveries of groceries to electronics but also supporting small indigenous merchants and kirana shop owners, he said.

"Reliance has consolidated its balance sheet after the previous round of capex and is ready for the next level of growth," he said.