Winning Bizness Desk

Mumbai. India’s richest businessman, Mukesh Ambani, has revealed that launching Reliance Jio was the biggest gamble of his career. Speaking in an exclusive interview with McKinsey & Company on June 25, Ambani said the move involved high stakes and uncertainty. He told his board at the time that this was Reliance’s boldest bet, as it involved deploying their own capital, with him being the largest shareholder. Analysts had expressed doubts about India’s readiness for such advanced digital infrastructure, warning that Jio could face significant setbacks post-launch.

Failure was acceptable, but not trying wasn’t

Ambani shared that he was prepared for the possibility of minimal returns. He had conveyed to his board that even in the worst-case scenario, where profits were limited, the initiative would still be worth it for the nation. “Even if Jio fails, it would be our biggest philanthropic contribution by digitally transforming India,” he said. The telecom revolution he triggered began with the official Jio launch during the Reliance AGM on September 1, 2016.

Father’s advice shaped Reliance’s vision

Reflecting on his late father Dhirubhai Ambani’s legacy, Mukesh said, “We believe a person comes empty-handed and leaves the same way. What remains is the institution.” He said his father told him that Reliance must endure beyond generations. “It’s a process, not just a company,” he added. Ambani vowed to keep the institution alive long after his time, envisioning Reliance thriving well beyond its golden jubilee in 2027 and continuing to serve India and humanity for the next 100 years.

Challenging norms, embracing risks

Ambani admitted that Reliance had defied traditional business school teachings, especially by integrating the value chain end-to-end. “As we chase future technologies, some opportunities surpass existing ones. We can’t afford to ignore them,” he said. His risk management philosophy involves imagining the worst-case scenario and preparing for it—an approach that has defined his leadership style.

Culture of transparency and values at Reliance

Ambani emphasized the importance of looking employees in the eye—an idea he has followed for over three decades. “You must be honest enough to meet their gaze,” he said. He insists that Reliance’s culture is based on shared principles and institutional integrity. “We must do what’s right. We should never be ashamed of our actions,” he concluded, framing these as the core values that will guide the company into the future.

7 Key Highlights

• Mukesh Ambani called Jio’s launch the biggest risk of his life.
• He told his board they might earn minimal returns, and that was acceptable.
• Digital transformation of India was a larger goal behind Jio.
• Ambani draws inspiration from father Dhirubhai’s vision of Reliance as an institution.
• He wants Reliance to serve India even after 100 years.
• Risk management for him means preparing for the worst from the start.
• Reliance culture stresses honesty, shared values, and leadership integrity.