Reliance will never be complacent, aims to be among the top 10 groups in the world: Mukesh Ambani
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Billionaire industrialist Mukesh Ambani says his led Reliance Group will never be ‘complacent’ (with its achievements) and will be part of the world’s top 10 business groups. The group has grown its business from the world’s largest oil refining complex to the country’s largest mobile network operator in a matter of a few years. Addressing employees on ‘Reliance Family Day’, the birth anniversary of group founder Dhirubhai Ambani, Mukesh Ambani said Reliance is now aiming to strengthen its place among global companies in adopting digital data platforms and artificial intelligence (AI) technology. . He said, “Today the domestic and global environment for business is changing very rapidly. There is no room for complacency.
Reliance has never been complacent in the past, and will not be so in the future.” He said Reliance is known for ‘changing the market through continuous innovation and discovery. Starting with a small textile manufacturing unit in Mumbai, Reliance carried out ‘backward integration’ – and entered the petrochemicals sector (which provides feedstock for textiles) and became the largest producer of it in the country. It then established the largest oil refinery in the country at its time and was expanded into the world’s largest oil refining complex. In ‘backward integration’ a company expands its role to fulfill the functions associated with the business involved in the supply chain.
Reliance Group entered the retail sector in 2005 and is now the largest operator of kirana stores, brick-and-mortar stores and online retail in the country. Reliance launched the telecom service Jio in 2016 and today it is India’s largest telecom service company. Reliance Jio is in third place in the whole world. Today Reliance is building large factories for the new energy business and has also entered financial services. Ambani, Chairman and Managing Director (CMD) of Reliance, said, “We have shown the courage to set the bar high, and the ability to leap even higher to create new records. This is how Reliance has achieved consistent growth.
He said that as India moves towards becoming the world’s third largest economy (from being the fifth largest), an unprecedented opportunity awaits Reliance. He said, “Reliance can make a place among the top 10 business groups of the world and it will do so.” However, he did not give any time frame for this. Reliance is today the largest company in the country in terms of revenue, profits and market valuation.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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