"I have known Shloka since she was four and we are all delighted to welcome her to our home and our hearts," Ms Ambani said.
Pictures of the engagement shared by fan pages and social media users showed a charming lawn ceremony under palm trees and white shamianas in Goa. The wedding is likely to take place in December.
Akash Ambani, 25, is the older of the two sons of Nita and Mukesh Ambani, India's richest man who heads Reliance Industries. Shloka Mehta is the youngest daughter of Mona and Russell Mehta, who run Rosy Blue Diamonds, one of the world's largest diamond trading companies.

Akash Ambani and Shloka Mehta got engaged in Goa on Saturday
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Shloka Mehta, who also studied at Princeton University and the London School of Economics, is a director in the family-run diamond firm. She is also the co-founder of ConnectFor, a platform that makes it easy and convenient for people to volunteer and provide services in NGOs of their choice, the Free Press Journal reported.
Akash Ambani with his brother Anant and fiancee Shloka Mehta at Siddhivinayak temple
Speculation about their marriage peaked earlier this month when reports said a December wedding date has been fixed and an engagement ceremony was being planned for around March 24.