Over the past 2 decades, there has been a generational shift in the number of Indian industrial families bringing women into the corner office - though analysts say there is still a long way to go.
Mr Ambani in his speech said "they are first among equals in a young team of leaders and professionals who are already doing amazing things at Reliance".
But Ms Ambani, a Yale graduate who worked at the consulting giant McKinsey, has been groomed to join the Reliance empire.
There are several forces behind the change, experts say - including more women accessing higher education, and traditional joint families giving way to nuclear ones.
Mr Ambani's twins, Akash and Isha Ambani, will lead Reliance Industries Ltd's telecommunications and retail businesses respectively, while his Anant is being groomed to handle new energy.
But what is visible is Mr Ambani's desire to avoid repeating history: the inheritance battle he waged with his younger brother 20 years ago, after their father died without leaving a will.
Isha Ambani's leadership role is also in stark contrast to the largely peripheral role that other women from her family have played in the core business until now.