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.
In this winner-wins—it-all battle that is set to determine the key holder of the cards held up in a three-way fight between Reliance, Amazon and Flipkart owner Walmart to gain dominance over the Indian consumers, all eyes are on who takes away the big prize. Will Flipkart’s strategy of growing rapidly in the grocery market give it the winning edge while the top two contenders remain horns locked in a long-standing court battle?
Historically, the wealthiest in the society aspire to own Media Houses – for 1) Access, 2) Influence, and 3) Thought Control. But there are new motivations spurring media acquisition by billionaires in the 21st Century.
Since Air India went public with the government having almost a 50 percent stake in it, the airline has recorded many successes as well as failures.
Could the Central Government’s new Farm Bills further strengthen the Reliance monopoly, finally bringing agribusiness under its umbrella?
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.
With the Reliance Industries flagship JIO Mart already having an $8 Billion backing from Facebook and Vista Equity while a further $4 Billion in talks with Google topped by a $1 Billion investment in India by Amazon makes this investment crucial for the survival of Flipkart.