Reliance Industries and Meta Platforms are set to jointly invest ₹855 crore in India’s artificial intelligence (AI) sector, a market projected to reach $20–22 billion by 2027.
The investment will be made through Reliance Enterprise Intelligence Ltd (REIL), a newly formed company focused on AI services. Reliance, via its wholly-owned subsidiary Reliance Intelligence, holds a 70% stake in REIL, while Meta, through its subsidiary Facebook Overseas, owns the remaining 30%.
REIL will focus on the development, marketing, and distribution of enterprise AI services, according to a statement by Reliance to stock exchanges.
The joint venture was first announced by Reliance Chairman Mukesh Ambani and Meta CEO Mark Zuckerberg during Reliance’s annual general meeting in August.
