“We are flooded with partnership requests,” Ambani said in a conversation with CNBC-TV18, sharing the stage with Larry Fink. The two already collaborate through JioBlackRock, a 50:50 venture launched in 2023 to build an asset management business in India.
Ambani attributed the steady inbound interest to policy continuity. “We’ve had stability and predictability in policy,” he said, arguing that this has positioned India—and Reliance—as a natural destination for long-term capital.
Yet, he added, it is not large global corporations that excite him most. “The startup industry is what excites me the most in the private sector,” Ambani said. “When I interact with young individuals, I can see a hundred new Reliances.”
Global strategic partners shaping Reliance’s own strategy
Most of Reliance’s global tech partnerships took shape in 2020, when Jio Platforms raised over $20 billion from marquee investors in less than three months. Meta put in $5.7 billion for a 9.99% stake. Google followed with $4.5 billion for about 7.7%. Both deals locked in long-term strategic collaborations across digital services, smartphones, commerce, and cloud.
Others joined too- Microsoft (Azure cloud collaboration), Qualcomm Ventures (~$97 million), Intel Capital (~$250 million), and financial heavyweights such as Silver Lake, KKR, Mubadala, General Atlantic, and ADIA.
Together, they repositioned Jio as a core digital and technology platform, not just a telecom operator. Since FY25, Reliance has quietly shifted gears—from building platforms to laying down AI-led infrastructure and services. The pivot shows up across partnerships, capital spending, and geography.
In 2024–25, Reliance deepened its alliance with Meta to develop enterprise AI solutions. It expanded collaboration with Google Cloud around AI, cloud infrastructure, and advanced compute workloads. Behind the scenes, the group has begun building large, AI-ready data-centre campuses, starting with Jamnagar, Gujarat, with more locations planned over the next few years.
Larry bullish on India’s digitisation/growth
Reflecting his bullish view on India’s digital trajectory, BlackRock chairman and CEO Larry Fink said India has emerged as the global leader in digitisation—leaving even the US behind. “The beginning of smartphones and the 5G rollout has transformed India in so many ways,” Fink said, calling it a live “demonstration of India’s capabilities at scale.”
He expects India to grow 8–12% over the next decade. “That’s where I want to personally invest,” Fink said. “If you believe in the era of India, we need to get more people investing around the growth of the country.”
That, he said, is exactly the mission of JioBlackRock—to help Indians understand how to participate in a long growth cycle. “This is an era for India over the next 20–25 years,” Fink said.
On AI, Fink dismissed fears of a bubble. “I don’t believe there’s an AI bubble,” he said. “If we don’t continue to invest, China will win.” AI, he argued, will be disruptive but ultimately democratising—creating discovery, opportunity, and broader economic participation.
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