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Reliance Industries Limited Mukesh Ambani said the company filed for 2,555 patents in 2023-24 read more
 "Reliance is becoming deep-tech company, says Chairman Mukesh Ambani")
Reliance Industries Limited will host annual general meeting on August 29, 2024 (Photo: Reuters)
The Reliance Industries Limited (RIL) is becoming a deep-tech company, said Chairman Mukesh Ambani.
Speaking at the 47th Annual General Meeting (AGM) of Reliance on Thursday, Ambani said the RIL spent over Rs 3,643 crore ($347 million) in FY 24 towards research and development. He further said that it meant that the RIL’s R&D expenditure amounted to over Rs 11,000 ($1.5 billion) in the past four years.
Ambani said, “We have more than 1,000 scientists and researchers working on critical research projects across all our businesses.”
Ambani said the RIL filed for 2,555 patents in 2023-24. He said the patents were filed mainly in the areas of bio-energy innovations, solar and other green energy sources, high-value chemicals, and various digital technologies.
On the back of technological innovations, Ambani said that the tech-driven transformation will lead to RIL having hyper-growth that will multiply its value.
“Digital is another principal area of our in-house research. We have filed patents in 6G, 5G, AI-Large Language Models, AI-Deep Learning, Big Data, Devices, Internet of Things, and Narrowband-IoT. I assure you that this ongoing tech-driven transformation of Reliance will propel your company into a new orbit of hyper-growth and multiply its value for years to come,” said Ambani.
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