MUMBAI, Aug 29: Telecom and digital giant Reliance Jio platforms will file for an Initial Public Offering (IPO) in the first half of 2026, Reliance Industries chairman and managing director Mukesh Ambani announced on Friday.

“Today, it is my proud privilege to announce that Jio is making all arrangements to file for its IPO,” Ambani said at the 48th Annual General Meeting of Reliance Industries Ltd.

"We are aiming to list Jio by the first half of 2026, subject to all necessary approvals. I assure you that this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts. I am sure that it will be a very attractive opportunity for all investors," he said.

Ambani also announced that Jio will now expand its operations overseas and develop its own artificial intelligence technology.

In his address, Ambani announced that Jio, which has entered its 10th year, has crossed 500 million customers.

"Just a week from now, Jio will enter its 10th year. I am proud to share that the Jio family has crossed 500 million customers," Ambani said.

Mukesh Ambani further credited Jio for laying the foundation for India’s digital public infrastructure, including initiatives such as Aadhaar and UPI.

“Jio made voice calls free from anywhere to everywhere in India. It made watching videos on mobile phones a habit for millions of Indians. Jio laid the foundation for India’s digital public infrastructure, including initiatives such as Aadhaar and UPI. The company enabled the creation of India’s digital ecosystem,” he said. “Jio helped build the world’s third-largest startup ecosystem in India, supporting over 100 unicorns.”

Ambani also outlined five priorities for Jio's next phase of growth, saying the company would connect every Indian through mobile and home broadband, equip households with digital services, digitise businesses with secure platforms, drive an "AI Everywhere for Everyone" push, and expand operations overseas.

Here's what else was announced at the 48th Annual General Meeting of Reliance Industries Ltd.

Jio to equip every Indian home with digital services such as Jio Smart Home, JioTV+, Jio TV OS, and seamless automation,” Mukesh Ambani said.

“Jio will herald the AI revolution in India. Our motto is AI Everywhere for Everyone,” Mukesh Ambani added.

“We are proud to announce another leap forward – JioPC. JioPC is that revolutionary product that transforms your TV, or any other screen, into a full-feature, AI‑ready computer,” Akash Ambani announced.

“Let us give you a first look of one of our most exciting upcoming products – JioFrames. JioFrames is an AI-powered wearable platform and ecosystem, made for India. With support for multiple Indian languages at launch, you can simply speak to Jio’s multilingual AI voice assistant. It is a hands-free, AI-powered companion designed for the way India lives, works, and plays,” Akash Ambani said.

Exporters' Body Calls For Loans, Short-Term Relief As Trump Tariffs Bite

NEW DELHI, Aug 27: The Federation of Indian Export Organisations has called for 'swift, coordinated action between industry bodies and government agencies to protect livelihoods (and) reinforce global trade links' to offset the impact of United States President Donald Trump's 50 per cent tariff on Indian goods.

FIEO President Subhash Chandra Ralhan said the government should offer short-term relief measures, including a 12-month moratorium on repayment of loans and a 30 per cent automatic enhancement of the Emergency Credit Line Guarantee scheme.

He also called collateral-free lending to help exporters past this 'turbulent phase'.

FIEO data, he said, suggests the US' 50 per cent tariff - which India has criticised as "unjust, unfair, and unreasonable" - will affect multiple labour-intensive sectors, such as textile and apparels, shrimp farming, and leather footwear, adding up to exports worth $48 billion.

Ralhan said he had already received reports of textile export units, in Uttar Pradesh's Noida and Surat in Gujarat, shutting down amid uncertainty over the impact of Trump's tariffs.

"This sector is losing ground to (already) low-cost rivals from Vietnam and Bangladesh (both of which face significantly lower tariffs)," he said, also flagging similar concerns for shrimp farmers, for whom the American market absorbs nearly 40 per cent of product exports.

"The tariff increases risks... stockpile losses, disrupted supply chains..." he said, "And other labour-intensive sectors, like leather, ceramics, chemicals, and carpets face a sharp erosion of competitiveness, particularly against European, South East Asian and Mexican producers."

To address these and other concerns, Ralhan called for "immediate government support, including interest subvention schemes and support to sustain working capital and liquidity".

Government support must also include investment in infrastructure and cold-chain or storage assets to strengthen competitiveness, as well as market diversification through accelerated trade deals with other nations, including Oman, Chile, and Africa and Latin American nations.

Trump Tariffs Hugely Impact Gems & Jewellery, Textiles & Apparel, Carpets, Agriculture Sectors

NEW DELHI, Aug 27: Indian exports to the United States have been hit with one of the harshest trade penalties in recent history-- a 50 per cent tariff. Starting 9.31 am IST (12:01 EST) on Wednesday, two-thirds of India's exports to the US -- worth over $60 billion annually -- are now in the tariff net. That's double the current rate of 25 per cent, notified earlier this month.

The trigger, according to US President Donald Trump, is India's continued purchases of Russian crude and defence hardware. According to the US Department of Homeland Security, the higher rate will apply to all Indian goods that "entered for consumption or withdrawn from warehouse for consumption" on or after this time.

Government estimates are slightly lower, pegging tariffs to impact $48.2 billion worth of exports. Officials have warned that the new duties could make shipments to the US commercially unviable, triggering job losses and slower economic growth.

Amid higher tariffs, India's products might lose competitiveness, potentially benefiting countries like China and Vietnam, as tariffs imposed on India are also higher than those on other Asian countries such as China (30 per cent), Vietnam (20 per cent), Indonesia (19 per cent) and Japan (15 per cent).

Shrimps: India exported $2.4 billion worth of shrimps to the US in FY2025, accounting for 32.4 per cent of total shrimp exports. The US is India's top market for farmed shrimp, particularly peeled, deveined, cooked, and breaded varieties.

Gems and Jewellery: India's exports of $10 billion to the US made up 40 per cent of India's global exports in this sector. Tariffs will surge from 2.1 per cent to 52.1 per cent, risking job losses in Surat, Mumbai, and Jaipur, where the industry employs millions in cutting, polishing, and manufacturing.

Textiles and Apparel: India's Textiles and apparel exports to the US in FY 2025 were $10.8 billion. Apparels alone account for $5.4 billion in exports to the US. The share of the US in India's apparel exports was 35 per cent. Tariffs rise from 13.9 per cent to 63.9 per cent, wiping out any price advantage. This will impact clusters in Tiruppur, Noida-Gurugram, Bengaluru, Ludhiana, and Jaipur, with Bangladesh, Vietnam, Mexico, and CAFTA-DR countries expected to replace Indian suppliers.

Carpets: India's exports to the US in FY 2025 were $1.2 billion, with Washington having a 58.6 per cent share in Indian carpet exports. Tariffs climb from 2.9 per cent to 52.9 per cent, threatening artisanal livelihoods in Bhadohi, Mirzapur, and Srinagar, while Turkey, Pakistan, Nepal, and China gain.

Handicrafts: India's Handicraft exports to the US in FY 2025 were $1.6 billion, with Washington having a 40 per cent share in Indian exports.This risks factory closures across Jodhpur, Jaipur, Moradabad and Saharanpur, with Vietnam, China, Turkey, and Mexico filling the gap.

Leather and Footwear: India's leather goods and footwear exports to the US stand at $1.2 billion. It will now be subject to the full 50 per cent tariff, losing ground to Vietnam, China, Indonesia, and Mexico, threatening Agra, Kanpur, and Tamil Nadu's Ambur-Ranipet clusters.

Agriculture and Processed Food: India exports basmati rice, tea, spices, and other farm products worth $6 billion to the US. They will now be subject to the full 50 per cent duty, enabling Pakistan, Thailand, Vietnam, Kenya, and Sri Lanka to take over the US demand.

Tariff-Exempt Products

Around 30.2 per cent of India's exports-- worth $27.6 billion-- will continue to enter the US market duty-free. Major product categories under this are pharmaceuticals and active pharmaceutical ingredients (APIs). They make up 56 per cent of all exempt exports from India.

Moreover, electronics, including smartphones, switching and routing gear, integrated circuits, unmounted chips, wafers for diodes, and solid-state storage devices, have also been exempted.

Refined light oil, gasoline, and aviation turbine fuel, books, brochures, plastics, ferromanganese, ferrosilicon manganese, ferrochromium, computing gears, Unwrought antimony, nickel, zinc, chromium, tungsten, platinum, palladium, gold dore, gold coins, technically specified natural rubber, coral, echinoderms, and cuttlebone have also been expemted.