The 63-year-old business tycoon seeks to widen his retail footprint in the Indian market at an uncertain time, especially when the space is hot for global players such as Amazon as well as local rivals. Several companies have already made it to the billionaire’s shopping cart.
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Over the last few weeks, Mukesh Ambani-led Reliance Retail has managed to attract big-ticket investments from global IT giants like Facebook and Google. It is speculated to be holding talks with Amazon and Walmart. The global IT giants’ big-ticket investments are made as Reliance is all set to capitalize on a huge un-penetrated retail market in India. Starting from Qualcomm and Intel to Google and Facebook, the Jio platform has maintained to be valued above Rs 4.5 lakh crore.
The lessons billionaire Mukesh Ambani learned the hard way about the need for prudent succession planning have led him to unusual steps to ensure the continuity of leadership at Reliance Industries Limited, India’s most prized corporate possession.
Mukesh Ambani is eyeing stakes in a host of Indian e-retailers to bolster Reliance’s retail offerings. A number of deals are in the works which, if successful, could help the company compete head-on in a fast-growing online retail market projected to be worth an estimated $170 billion by the end of the next decade.
As India’s largest telecom operator, Jio’s entry into the 5G market was a given. Ambani even told visiting US President Trump in February that Jio would soon launch a 5G network that was completely free of Chinese components. No one could have guessed what was on his mind back then.
Mukesh Ambani-led RIL’s new arm JioMart will take on Amazon and Flipkart but with a different warehousing-less strategy aided by a tech acquisition spree.
The BJP government is gearing up for a second attempt to sell India’s national carrier Air India and Mukesh Ambani-led Reliance Industries is quickly emerging as the front runner among investors.
The new company will become the conglomerate’s umbrella platform for all digital businesses including Jio. The Rs 1.08 lakh crore investment will be in the form of a rights issue of optionally convertible preference shares (OCPS). Reliance Industries Ltd (RIL)…
With a net worth of Rs 3.8 lakh crore, Reliance Industries Chairman Mukesh Ambani is India’s richest man for the eighth consecutive year as mentioned in the IIFL Wealth-Hurun India Rich List 2019.