Akash Ambani announces Jio’s next big mission

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The Economic Times daily newspaper is available online now. Read Today's Paper Akash Ambani announces Jio’s next big mission after data: Bring AI, cloud and space connectivity to every IndianBy Nikhil Agarwal, ETMarkets.comLast Updated: Oct 28, 2026, 10:37:00 AM ISTSynopsis

Jio Platforms made a strong stock market debut, listing at a 21.3% premium after its Rs 30,200 crore IPO was fully subscribed within 95 minutes. Managing Director Akash Ambani outlined Jio’s next phase of growth, focusing on democratising artificial intelligence, cloud computing, space connectivity and emerging digital technologies to transform lives across India.

Reliance Industries Ltd.’s Jio is moving beyond its data-led disruption, with Jio Platforms Managing Director Akash Ambani outlining an ambition to make artificial intelligence, cloud computing and space connectivity accessible to every Indian.

Speaking at Jio’s blockbuster listing on the stock exchanges, Ambani said the company’s next phase would focus on “democratising every technology that can transform lives,” including AI, cloud, connected devices, connectivity from space and digital services yet to be imagined.

Catch all the Jio IPO listing day action live here

“In our first 10 years, we democratised data, bringing hundreds of millions into the digital world. In our next step, we want to democratise every technology that can transform lives: AI, cloud, connected devices, connectivity even from space, and digital services not yet imagined.”

Jio made a strong debut on the Indian stock market, listing at a 21.3% premium over its initial public offering price. The Rs 30,200 crore IPO was fully subscribed within 95 minutes of its launch, which Ambani described as the fastest such response India has seen.

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Also Read | Ambani pulls off a blockbuster: Jio IPO makes 13 records, rewrites Dalal Street history

The offering attracted more than Rs 7.5 lakh crore in demand and over 1.3 crore applications, both records, according to Ambani.

“Today, I am overwhelmed with emotions. My heart overflows with gratitude to every individual and every institutional investor in India and abroad who made our IPO a blockbuster success.”

The strong market debut underscores the scale of investor expectations surrounding Jio as it transitions from a connectivity company into a broader digital infrastructure and services platform.

Also Read | Jio Platforms gets first Buy call! Nomura says ‘disruptor now the leader’; starts coverage with Rs 1,340 target

Ambani said Jio’s ambition was to build “a truly digital society” in which connectivity, computing and intelligence work together across India, its languages and its communities.

“I believe technology should never be an end in itself. Its true value lies in the opportunities it creates and the barriers to progress it removes.”

Jio, which now serves more than 540 million customers through its homegrown platforms, was built around the goal of providing affordable, world-class technology to Indians, Ambani said. When he joined the business, it had no customers and no revenue, but a large idea and a team that believed in the opportunity.

The company’s next phase will require it to maintain its scale advantage while expanding into more complex technology businesses. Ambani said Jio would need to be “world-class in our technology, service, execution and standards.”

He also positioned the listing as a new beginning rather than the culmination of Jio’s first decade.

“Never let today’s achievement limit tomorrow’s ambition.”

Ambani said Jio was built to “render seva to the nation,” reflecting the vision of his grandfather, who imagined “roti, kapda, makan, aur mobile for every Indian.”

He added that the responsibility of the next generation of the Ambani family was not merely to preserve what they had inherited, but to make Jio “bigger, better and more meaningful for India.”

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Read More News onjio platformsAkash AmbaniJio Platforms sharesJio Platforms share priceJio Platforms stock priceJio Platforms newsJio Platforms target priceJio Platforms listing priceMukesh Ambani newsreliance industries ltd.

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