Reliance Industries Chairman and Managing Director Mukesh Ambani said investments in building the telecom major Jio were the "biggest risk" he took, despite skepticism from analysts who doubted India's readiness for the necessary digital infrastructure.

In an interview with McKinsey & Company, Ambani said that some thought India was unprepared for the most advanced digital technology. Still, the decision was made with Reliance Industries' philanthropic philosophy kept in mind.

He said that even in the worst-case scenario, even if the investments don't deliver the expected returns, it would still be Reliance's greatest act of philanthropy--contributing to India's digital transformation.