Mukesh Ambani, Chairman of Reliance Industries, recently shared that launching Reliance Jio in 2016 was the biggest risk he had ever taken. Even if it had failed, he said it still would have been worth it because of its huge impact on India’s digital development.
Ambani revealed this in a conversation with McKinsey & Co. He explained that before Jio was launched, many financial experts believed it wouldn’t succeed. They thought India wasn’t ready for advanced digital services and doubted if the investment in 4G infrastructure would pay off.
However, Ambani told his board that even if Jio didn’t make money, it would still be a great contribution to the country. “In the worst case, we won’t earn much. That’s okay because it’s our money. But we will have helped India go digital, and that’s the best form of giving back,” he said.
How Jio Changed India
When Jio launched, it offered free voice calls and cheap internet data, which forced other telecom companies to lower their prices. As a result, millions of people across India, even in rural areas, started using the internet.
Before Jio, internet access in India was expensive and limited. After Jio, data prices dropped significantly, and now over 800 million people in India use the internet—making it one of the largest online markets in the world.
Jio also made it easier for people from low-income backgrounds to access digital services like online shopping, mobile banking, online learning, and streaming entertainment. Today, Jio serves over 470 million customers and is expanding into areas like 5G, cloud computing, and artificial intelligence.
A Vision Beyond Business
Ambani said that for Reliance, taking big risks has always been part of the journey. “We invest with our own money and are ready for the worst outcomes. But our goal is always to build something meaningful,” he added.
He also shared a lesson from his father, Dhirubhai Ambani. His father told him that Reliance should be built to last for generations. “Reliance is not just a company—it’s an institution,” said Ambani. “It should continue to serve India and the world even after 100 years.”
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Doing the Right Thing
Ambani emphasized the importance of honesty and integrity in leadership. He said that every leader in Reliance should be able to look their team in the eye with confidence and pride in their actions. “We must always do what is right and never feel ashamed of our decisions,” he said.
