Mukesh Ambani: Launching Jio Was the Biggest Risk of My Life

In 2016, India’s telecom industry witnessed a historic transformation when Reliance Jio entered the market with free voice calls and ultra-cheap data. The disruptive entry not only brought major private telecom players like Vodafone Idea and others to their knees but also accelerated India’s digital revolution. However, Reliance Chairman Mukesh Ambani now reveals that launching Jio was the biggest business risk of his life.

Experts Feared Jio Would Be a Financial Disaster

In a recent interview with McKinsey & Co., Ambani shared that several experts and stakeholders initially believed Jio would be a massive financial failure. At the time, India was not fully prepared for such advanced digital infrastructure, and Jio’s launch raised concerns about its commercial viability.

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“I told them I was willing to invest my own money in building India’s 4G network. Even if Jio failed and never made a profit, it would still be Reliance’s greatest philanthropic act, because we would have contributed to the digital empowerment of India,” said Ambani.

A Bold Vision Fueled by His Father’s Legacy

Recalling his late father Dhirubhai Ambani’s words, Mukesh Ambani emphasized that Reliance was not just a company, but a permanent institution meant to outlast generations. That sense of commitment led him to place a $25 billion bet (over ₹2 lakh crore), mostly from personal and company funds, into launching Jio—without a traditional test phase.

Industry analysts describe this as Ambani’s biggest gamble on the Indian masses, based on a deep belief in the nation’s potential.

Jio Now Worth Nearly 5 Times Its Initial Investment

What began as a daring risk has now turned into a monumental success. As per industry estimates, Jio’s current valuation is nearly five times its original investment. It not only democratized internet access but also pushed competing telcos to slash prices, ultimately benefiting millions of Indian users.

“We Want Reliance to Serve India for 100 Years and Beyond”

Looking ahead, Mukesh Ambani stated that Reliance will celebrate its 50th anniversary in 2027, but he envisions a company that serves both India and humanity even after a century. He acknowledged that the nature of business is ever-evolving and that adapting to global changes every five to ten years is key to long-term survival.

“Reliance in the 1960s and 70s is not the same as Reliance in the 2020s. The world keeps changing, and so must we,” he concluded.