Mukesh Ambani said - Reliance Retail will provide 10 lakh jobs in three years

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New Delhi, 24 June 2021 Thursday

Reliance Industries' Reliance Retail will provide more than 1 million jobs in the next three years. Mukesh Ambani made the announcement at the 44th AGM of Reliance on Thursday (June 24, 2021). Reliance Retail will triple in the next 3 to 5 years, he said. Mukesh Ambani said that the company has done well in the retail sector. Last year, it sold 180 million dresses and shoes that could simultaneously cover the entire population of Britain, Germany and Spain.

Retail could be Reliance's growth engine in the next ten years, Goldman Sachs said. Goldman Sachs, the group's global retail brokerage and research firm, said the group's retail business revenue (EBITDA) could grow tenfold in the next ten years. The brokerage firm said that Reliance Industries is fully focused on strengthening its digital capabilities during the deteriorating macro situation. In the coming days, Reliance will strengthen its omnichannel, which is gearing up to deliver its products, including retail, and will be able to capture a large market share.

The brokerage firm said that by fiscal year 2030, the share of organized retail in groceries will increase six-fold from current levels. Of this, 15 per cent will be held by Reliance Industries. Reliance Industries Ltd currently has a 41.5 per cent stake in the organized retail space.

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