Reliance Retail's business will triple in three to five years

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(Commercial Representative) MUMBAI: Reliance Retail's business is expected to triple in the next three to five years, according to Reliance Industries CMD Mukesh Ambani. Reliance's retail business is one of the fastest growing retailers in the world. The company is committed to ranking its business in the top 10 retailers in the world. He said that Reliance Retail has not only saved employment but also created 5,000 new jobs.

Addressing the company's AGM, Mukesh Ambani said that Reliance Industries has invested in state-of-the-art supply chain infrastructure by connecting all major sources and outlets across India. Which will maximize efficiency and minimize losses in the supply chain. This will enable both consumers and manufacturers to share the benefits. Reliance has recently acquired NetMeds, Urban Ladder and Zivem, continuing acquisitions for the rapid growth of its retail business.

The deal with Reliance Industries as well as Saudi Aramco will be completed this year

Reliance Industries' delayed deal with Saudi Aramco last year will now be completed this year, Reliance Industries Chairman and Managing Director Mukesh Ambani told the AGM today. In addition, Yasser Al-Rumayan, chairman of Saudi Aramco and governor of the Public Investment Fund, has joined the board of Reliance Industries as an independent director.

Announcing this important announcement, Mukesh Ambani said, "We welcome Saudi Aramco, a key part of our vision of achieving rapid growth, as a strategic partner in Reliance's O2C business." Despite the many challenges posed by Covid-17, we, Reliance and Saudi Aramco, have made significant progress in our discussions over the past year. In 2015, Reliance announced a deal to sell a 50 per cent stake in the company's flagship chemicals and refining business to Saudi Aramco for 12 billion.

Google-Geo and Google smartphone Geophone will be launched on September 10

Reliance Jio, in partnership with Google, will launch its Android based smartphone Jio Phone Next on September 10, 2021.

Reliance Chairman Mukesh Ambani said that both the Geophone Next will be a full-featured smartphone with support for both Android and Android smartphones. Mukesh Ambani has claimed that this phone is the most affordable and affordable smartphone designed targeting 200 million feature phone users in India. Geophone Next will be with the latest version of the Android operating system. Developed jointly by Geo and Google. It will have all the features including voice assistant, camera, language conversion.

Rs 3.5 lakh crore raised through sale of shares, asset monetization, rights

Reliance Industries has raised a record Rs 4.5 lakh crore in the world through holding sales, rights issue of shares and asset monetization in its various business units in 2020-21, Mukesh Ambani said at the AGM here today.

The company has raised Rs 3,6,8 crore through holding sales in its digital unit Geo Platforms and retail ventures, as well as rights issues and asset monetization of shares. Thus, the highest capital raised by any company in the world was raised by Reliance last year at 4.5 billion. "Raising so much capital has strengthened the confidence of global investors in India's growth potential," Ambani said.

Fitch upgrading Reliance Industries' credit rating to BBB

Reliance Industries' sovereign rating has been upgraded to triple B by Fitch Ratings. The company has upgraded the rating by one point due to the benefits of cash flow and continuous delivery in various diversified business segments.

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