Reliance Industries Chairman Mukesh Ambani has described the launch of Reliance Jio in 2016 as the “biggest risk” of his life, revealing that despite widespread skepticism and the possibility of financial failure, he was prepared to stake billions to digitally transform India.
In a candid interview with McKinsey & Company, Ambani said Reliance invested its own capital to build a nationwide 4G network at a time when many analysts doubted India’s readiness for such advanced digital infrastructure. “In the worst case, we will not earn much return. That’s okay because it’s our own money. But then, as Reliance, this will be the best philanthropy that we will have ever done in India,” he told his board.
Jio’s entry into the telecom market disrupted the industry by offering free voice calls and ultra-low-cost data, triggering a price war that forced competitors to slash tariffs. The move democratized internet access, especially in rural and underserved areas, and accelerated India’s digital adoption. Today, India boasts over 800 million internet users, making it one of the world’s largest online markets.
Ambani emphasized that scale and impact have always guided Reliance’s strategy. “We’ve always taken big risks because, for us, scale is important,” he said, adding that Jio’s success has validated the company’s belief in betting on the future.
Reflecting on his father Dhirubhai Ambani’s legacy, he said, “Reliance is a process. It’s an institution that should last. You have to make sure that Reliance lasts beyond you and me.” He reiterated his commitment to building a company that continues to serve India and humanity for generations.
Jio is now India’s largest telecom operator with over 470 million subscribers and a growing presence in 5G, cloud computing, and AI services. Ambani said the company’s institutional culture and long-term vision are its greatest strengths in navigating risk and driving innovation.
