Mukesh Ambani's Game-Changing Risk with Reliance Jio

Mukesh Ambani, the billionaire industrialist, termed Reliance Jio's 2016 launch as the 'biggest risk' of his life, declaring it transformative for India's digital landscape, irrespective of financial outcome. In a McKinsey & Co interview, Ambani shared that despite analysts' skepticism, Reliance invested billions into rolling out 4G networks.

Jio's entry spearheaded a telecom revolution, making calls free and data affordable. By promoting digital inclusion, it drastically reduced costs, granting internet access to over 800 million Indians, notably reaching rural and low-income demographics. Its success drove competitors to slash prices, accelerating digital service growth.

Ambani emphasized the importance of creating lasting institutions, citing his father's vision of Reliance enduring beyond them. As Reliance eyes its centenary, Ambani advocates for embracing future business prospects and extols institutional culture as a shield against business risks.

(With inputs from agencies.)