Reliance Industries latest news: Battery plans paused, Venezuela oil and ₹7 Lakh Cr investment push

Synopsis: Reliance Industries is in focus as reports claimed it paused its Li-ion cell project, which the company denied. Meanwhile, it’s seeking US approval to resume importing Venezuelan crude. And then there’s Ambani’s major announcement of a huge Rs 7 lakh crore investment lined up for Gujarat.

The shares of India’s largest conglomerate house are in focus after the company found itself in the middle of some reports, a recent talk of Venezuela Oil and Mukesh Ambani’s commitment to Gujarat’s sustainable development through huge investments.

With a market capitalisation of Rs 20,07,271 crore, the shares of Reliance Industries Ltd reached a day’s low of Rs 1,451.10 per share, down nearly 2 percent from its previous day’s closing price of Rs 1,475.30 per share. Over the past five years, the stock has delivered a muted return of 53 percent, underperforming NIFTY 50’s return of 79 percent. So India’s one of the leading conglomerates came under focus mainly because of three reason which we will discuss in this article.

Pause of the Li-ion cell manufacturing plan

An earlier report suggested that Reliance Industries had paused its plans for lithium-ion battery cell production in India. Adding to the reason, the report highlighted that the company couldn’t secure the Chinese technology it needed. 

It mentioned that Reliance had been in talks with Xiamen Hithium Energy Storage Technology, a Chinese firm, to license lithium iron phosphate (LFP) cell technology. However, those discussions broke down when Hithium withdrew, largely due to Beijing tightening its control over tech exports.

Shortly after, Reliance responded that there had been no change to their plans whatsoever. Reliance quoted that they remain fully committed to building a world-class battery storage manufacturing ecosystem, covering everything from basic cells to complete containerised energy storage systems. Reliance also stated that all their battery projects are progressing smoothly and remain on track.

Venezuela crude talks progress

A different report suggested that Reliance Industries is in discussions with the US State and Treasury departments, aiming to secure approval to resume crude oil imports from Venezuela. This move comes as India faces increasing pressure to scale back on Russian oil purchases, pushing Reliance to seek alternative sources.

Earlier, Reliance imported Venezuelan oil under special US licenses. The report highlighted that PDVSA’s (Venezuela’s oil company) internal records show Reliance received four shipments, averaging around 63,000 barrels per day, in the first four months of 2025, with the final cargo arriving in India in May. However, the US later tightened restrictions, suspending most licenses linked to PDVSA partners and increasing pressure on Venezuela’s oil sector.

If Reliance obtains the necessary approvals, Venezuelan crude is a good fit for its operations. Their two refineries in Gujarat, which together process about 1.4 million barrels per day, are designed to handle heavier, lower-cost grades like Venezuela’s Merey crude. Sources familiar with the negotiations say Reliance could purchase Venezuelan oil via US-affiliated firms or others.

However, Reliance quoted that it would consider resuming purchases of Venezuelan crude if sales to non-U.S. buyers are permitted under U.S. regulations and if it is also offered crude at a cheaper rate.

Announcement in Gujarat’s Vibrant Summit

Mukesh Ambani, the head of Reliance Industries, took the spotlight at the Vibrant Gujarat Regional Summit in Rajkot and made five major announcements for Gujarat. He went beyond just sharing figures and emphasised that Reliance feels at home in Gujarat and wants to help the state grow more, especially in regions like Saurashtra and Kutch. He made a few key announcements at this summit.

First, Reliance will double its investment in Gujarat, raising it to Rs 7 lakh crore over the next five years. Ambani mentioned that this move is not only about investing money, but it’s also about generating jobs and improving livelihoods. For context, Reliance has already invested over Rs 3.5 lakh crore in Gujarat in the last five years.

Secondly, the company plans to transform Jamnagar into a global hub for clean energy. This includes solar power, battery storage, green hydrogen, sustainable fuels, and advanced green materials. Additionally, Reliance is preparing to launch large-scale solar projects in Kutch, with multi-gigawatt solar plants, integrated storage and grid solutions, and a focus on delivering clean electricity all day and night.

Ambani also announced that India’s largest AI-ready data centre will be built in Jamnagar. Alongside that, Reliance is introducing a Jio AI platform so people can use AI in their own languages, making technology much more accessible.

He also announced that Reliance Foundation will back India’s bid for the 2036 Olympics in Ahmedabad, help run a major sports complex there, and build a world-class hospital in Jamnagar. They’re also expanding their educational initiatives in the area. Overall, it’s an ambitious vision, with Reliance fully committed to Gujarat’s future.

In short, despite reports around pauses in battery cell plans and ongoing talks to restart Venezuelan crude imports, Reliance does not want to slow down its growth journey, as it continues to expand aggressively and plans to invest even more in Gujarat through large-scale projects in clean energy, solar power, AI infrastructure, and social development.

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