Reinvention at core of Reliance, says Mukesh Ambani: Here are key takeaways from his McKinsey interview

In an interview with McKinsey & Company's Gautam Kumra, Reliance Industries Chairman and Managing Director, Mukesh Ambani, shared his vision and long-term goals he has set for Reliance Industries. Ambani said that he aims to build Reliance as an institution that will last beyond 100 years with technology and reinvention at its core.

Ambani said Reliance's guiding light comes from values instilled in him by his father Dhirubhai Ambani, who talked about creating impact at scale that improves the lives of all Indians. Ambani said, "My father used to say that if you want to start a business to be a billionaire, you are an idiot; you will never get there. If you want to start a business to impact a billion people, then you have a good chance of success, and, as a by-product, you can make a reasonable amount of money."

Highlighting the ambition to reinvent Reliance every three to five years, Ambani said, “Even today, we reinvent our business every three, four, or five years in terms of what we do.”

Talking about risks and challenges involved in launching Reliance Jio in 2016, Ambani said the launch of Jio in 2016 was Reliance’s most daring move. “We’ve always taken big risks because, for us, scale is important,” he said. At the time, critics doubted whether India was ready for a high-speed digital future. But he remained unfazed.

“It was our own money, and I was the majority shareholder,” he explained. “The worst-case scenario was that we wouldn't earn much return. But even then, I told my board: This will be the best philanthropy we’ve ever done because we will have digitised India.”

Ambani also delved into Reliance’s evolving model. While recruiting the right talent remains crucial, he believes that traditional corporate structures can often hinder performance.

“Sometimes structures prevent people from becoming high performers at Reliance, we align systems and structures to our outcomes. Flexibility is the secret sauce that ensures our organisational capability doesn’t get limited,” he said.

Ambani said that Reliance Industries legacy will last beyond 100 years.

"We are believers that, at the end of the day, you come without anything into this world, and you leave without taking anything with you. What you leave behind is an institution,” Ambani said.

“Reliance is a process. It’s an institution that should last. You have to make sure that Reliance lasts beyond you and me. That’s my commitment to him—that Reliance will last beyond us. In 2027, Reliance will celebrate its golden jubilee. But I want Reliance to continue to serve India and humanity even after completing 100 years. And I am confident it will,” he added.