Posts Tagged ‘Reliance Retail’

Reliance Retail Buys a 16 Percent Stake in US-Based KaiOS Technologies Inc.

March 14, 2018

Reliance Retail, the electronics and consumer goods wing of Mukesh Ambani-led Reliance Industries Limited (RIL), recently acquired a 16 percent stake in KaiOS Technologies Inc. (KTI) for a cash amount of USD 7 million. KaiOS is the US-based software developer of RIL’s famous JioPhone.

RIL’s announcement about the acquisition

RIL had stated in a notice addressed to the Bombay Stock Exchange (BSE) that its electronics and consumer goods company, Reliance Retail (RRL), had purchased 19,04,781 shares of KaiOS Technologies Inc. (KTI). They were purchased at a price of USD 3.675 per share for cash amounting to USD 7 million, which translates to KTI’s equity stake of 16 percent on a totally diluted basis. The company further stated that this investment is to give RRL’s current investments in the business of economical digital devices and the digital initiatives of RIL and its subsidiaries a potential boost.

Way forward

RIL looks at the investment in KTI as a key step for RRL to have superior control over JioPhone’s software. As JioPhone is India’s only 4G VoLTE feature phone, its success is of utmost importance to Reliance Jio Infocomm, RIL’s telecom wing. The flagship telecom brand Jio has already secured more than 160 million customers and has plans to add more users on an instant basis while competing with some of the leading telecom players in the industry.

How the investment benefits KTI

KTI, a US Delaware-registered organization is an early stage company with revenue of USD 2.5 million in 2016 and USD 9.25 million in 2017. After this investment by RRL, the company has a value of USD 44 million.

RRL’s products and association with KTI

RRL operates Reliance Digital, Jio stores, and Reliance Digital Express Mini. It also sells the well-known JioPhone. Apart from electronics, it runs a chain of supermarkets, specialty stores, wholesale cash and carry stores, and neighborhood stores. KaiOS, KTI’s software is created on the back of Firefox OS and is available as an open source. This software is at the center of the JioPhone.

The growth of JioPhone

JioPhone is being effectively sold free of cost. The customers have to make a payment of INR 1,500, which is refundable after a period of three years. However, in order to avail of the refund, customers have to recharge with a minimum amount every month. With JioPhone, customers can stream live content on TV and browse through various Jio applications such as music and cinema. All these features have made JioPhone one of the most preferred mobile devices among non-smartphones. It emerged as the leading feature phone brand in the quarter from October-December 2017 in terms of shipments. As per Counterpoint Research, JioPhone had acquired a market share of 27 percent because of the massive volumes it shipped during the last months of 2017.


Mukesh Ambani owned Reliance Retail buys a 16 percent stake in US-based KaiOS Technologies Inc. for a cash amount of USD 7 million.


RIL to Set Up an Electronics Park in Andhra Pradesh

February 14, 2018

Mukesh Ambani led Reliance Industries Limited (RIL) has planned to establish an electronics park in the temple town of Tirupati at Andhra Pradesh. This will give a boost to the Andhra Pradesh government’s plan of developing the electronics industry.

RIL’s investment plans for the electronics park

Tirupati has always been a large mobile manufacturing hub. Domestic handset makers like Celkon, Lava, Karbonn, and Micromax have their facilities in this town. The RIL electronics facility will be spread over 150 acres. It will be located in Chittoor district near Tirupati. Reliance Jio will manufacture varied devices like mobiles, televisions, set-top boxes, and batteries, among others in the facility. It will produce ten million JioPhones in a year from this new facility.

The Andhra Pradesh government announced that RIL aims to create an end-to-end ecosystem in the field of electronics. The new facility will start from chip designing and complete the entire process with product development. Apart from this, the company will also train students in electronics manufacturing at the proposed electronics facility.

Sources believe that RIL has promised to set up an Information Technology (IT) startup, a telecom ecosystem, and a digital infrastructure. This will be operated at over a 50-acre campus in Amaravati. The company is also planning to establish a large solar power plant having a capacity of 150MW at Peddapuram. Besides, RIL has proposed to equip 5,000 villages of the state with citizen service centers (CSCs). This will make government services reach people in an affordable way.

Ambani’s visit to Andhra Pradesh

According to sources in the Andhra Pradesh government, Chairman Mukesh Ambani has committed huge investments in the state of Andhra Pradesh. The investment may involve thousands of crores of rupees. Ambani promised this during a high-level meeting with the Chief Minister of the state, N. Chandrababu Naidu on 13th February. The meeting was held at the Secretariat at Velagapudi near Vijayawada.

Ambani informed the Chief Minister that RIL is willing to set up 100 entrepreneurial industries with the support of the state government. He said that if the state allows private investment, RIL will make investments in the sectors of health, education, and agriculture. He also said that Andhra Pradesh has the biggest opportunity to market its technology.

During his visit to Andhra Pradesh, the Chairman went to the Real Time Governance (RTG) center. The center was set up by the Naidu government at the Amaravati Secretariat complex. He praised the Chief Minister stating that he is way ahead than everything and has implemented all the things that Ambani has ever seen or heard. In the evening, Ambani had dinner with the Chief Minister at his official residence.

Complimenting Ambani, Naidu said that he has always loved how both Dhirubhai and Mukesh aim big and also implement that in a cost-effective way.

Once RIL receives all the necessary approvals, it is expected that the company will lay a foundation stone for the electronics park in the coming two weeks.


Mukesh Ambani’s RIL plans to set up a 150-acre electronics park in Tirupati at Andhra Pradesh.

Mukesh Ambani Announces INR 2,500 Crore Investment in Assam

February 7, 2018

Chairman of Reliance Industries Ltd. (RIL), Mukesh Ambani announced that the company would invest INR 2,500 crore in the state of Assam. He said this at the inaugural ceremony of the Global Investors Summit 2018 held in Assam.

RIL’s investment in five sectors

The INR 2,500 crore-investment will help RIL to strengthen its presence in the state. Ambani delightfully announced five commitments for Assam. The investment will be seen in diverse sectors like telecom, retail, tourism, sports, and petroleum. It will help to create more than 80,000 jobs in the coming three years.

In the retail sector, RIL has decided to increase its number of outlets from two to 40. It will also construct new petrol depots to raise the number from 27 to 165. Apart from this, RIL will inaugurate new offices in all 145 tehsil headquarters across the state.

Ambani stated that other telecom operators have always considered Assam as a low priority market, but RIL considers it as a ‘Category A’ market.

In the tourism segment, RIL’s philanthropic arm, Reliance Foundation will join hands with the Assam government to establish a center at a university for the promotion of eco-tourism and wildlife protection.

For the development of sports, Ambani stated RIL will again collaborate with Assam government to set up a top-class football academy. This will help to produce global players from the state. He further stated that the Indian Super League (ISL) is already a huge success in the state.

RIL’s position in Assam

Ambani revealed that RIL has generated 20,000 jobs in Assam. Its approach has always been to create sustainable livelihood opportunities. The company now aims to increase the opportunities by five times while creating one lakh jobs.

The company is also the biggest private sector investor in Assam as it has made an investment of INR 5,000 crore over the past few years. The telecom arm of RIL, Reliance Jio, has more than three million subscribers from Assam and it aims to increase it significantly in the coming months.

Ambani’s words for the government

Ambani complimented the Chief Minister of Assam, Sarbananda Sonowal for organizing the ‘Advantage Assam – Global Investors Summit 2018.’ He said that the state’s development potential is never-ending. During the 1950s, Assam was a developed state with its per capita income greater than the national average, he added.

In addition to this, Ambani also praised Prime Minister Narendra Modi. He said that the investors’ conference is happening at the right time. This is the time when India is also growing under the leadership of our popular Prime Minister. He said that Modi’s emphasis on ‘ease of living’ is influencing several other countries. Lastly, he praised the Narendra Modi government for proposing a budget, which is among the best budgets presented in the recent times. The budget focuses on all sections of the society, including farmers, he added.


At the Global Investors Summit 2018, Mukesh Ambani announced an investment of INR 2,500 crore in the state of Assam.

Akash Ambani Speaks at the India Digital Open Summit 2018

January 24, 2018

Akash Ambani, the elder son of Mukesh Ambani and Director at Reliance Jio, made his first solo appearance at a public event and spoke at the India Digital Open Summit 2018. He threw light on the importance of open source technology for his company.

Views on open source

Ambani said that open source was essential for Jio. He added that the company is committed to using open source and that will also be an important driving force. He further stated that Jio is focusing on positively enhancing the lives of people in India. Every day, their lives are enriched with open source when they use JioPhone, Jio apps, or an LYF device.

Jio is involved in a number of projects including the Open Network Automation Platform (ONAP), which is an open source networking automation standard. Ambani stated that the open source community helps to drive technology progression for areas of interest, globally.

The Director revealed that OpenStack, which is the biggest fully open source cloud project in the world, is being used for multiple projects. Across the globe, it is powering more than 60 data centers’ private and public clouds, which also includes Jio.

Evolution of new technologies

According to Ambani, 2017 saw the emergence of a number of new technologies. The year marked the initial stages of adoption of Augmented Reality (AR) and Virtual Reality (VR) technologies in India. He said that these technologies will grow at a 50 percent compounded rate at Jio for the next five years.

Cloud is also set to become a key technology in communications infrastructure. Cloud along with Artificial Intelligence (AI) is expected to grow exponentially over the coming years. Ambani is of the opinion that the public cloud market in India will reach USD 2.6 billion this year and cross USD 4 billion in the next two years.

Apart from this, Ambani also spoke on the growth of blockchain and AI. AI has leveraged open source for constant innovations. He said that last year, blockchain and digital currency were in the limelight due to the buzz surrounding bitcoin. Blockchain offers a distributed ledger system for facilitating transactions in a secured manner. One of the key features was bitcoin. Bitcoin has a number of applications in varied industries like education, banking, real estate, and the Internet of Things (IoT), among others.

According to a report, Jio is planning to work on blockchain products and launch its own cryptocurrency, JioCoin.

Statements of other authorities

Other speakers at the summit included Telecom Secretary Aruna Sundararajan and Jio President Mathew Oommen. The government official said that India is marching towards an era from 3G to 4G to 5G. According to her, 5G will be an ideal prospect to adopt open source. Today, the country has the capabilities to emerge as a global digital leader, she added.

Oommen said that 5G is set to entirely revolutionize the country’s telecom sector. It will offer a range of capabilities. He said that the country has a one-of-a-kind opportunity to not only lead the world, but also create digital platforms and technologies for the global population.


Reliance Jio Director, Akash Ambani spoke on the power of open source and other technologies at the India Digital Open Summit 2018.

RIL’s Petrochemical Business Completes an Expansion Plan of USD 16 Billion

January 3, 2018

Reliance Industries Limited (RIL) has completed its giant project, which was a massive petchem capex program. Mukesh Ambani, Chairman of RIL, said that this progress marks a paradigm shift in the business of petrochemical in terms of profitability.

Commissioning of the ROGC

Refinery off-gas cracker (ROGC) unit was commissioned, which lead to the completion of the largest capex of USD 16 billion in the RIL’s petrochemical business. This may double the revenue of the business. The refinery has a capacity of 1.5 million tons per annum (mtpa). This ROGC is world’s first downstream plan and marks a shift in sustainability and profitability of petrochemical business by RIL.

As input or feedstock, off-gases from two refineries at Jamnagar are used in this ROGC complex. This makes the cost of the raw materials nominal and boosts the profit margin of the company. It also allows them to compete with the low-cost producers of North America and the Middle East.

This ROGC plant will act as a link between the petrochemical units and refinery units run by RIL. To deliver high-value polymer, it will make propylene and ethylene from the off-gas refinery and this will go for further value addition.

Analysts have predicted that this unit’s commission is value accretive and the full impact can be seen in the next few quarters. RIL also has the capability to produce a range of PE grades that covers all end-uses in the market of India.

RIL said that the ROGC was built in record time with a capital cost that was approximately 40 percent lower as compared to other similar projects. It is also the latest addition to the cracker portfolio of RIL. The other cracker facilities of RIL are at Vadodara, Hazira, and Dahej in Gujarat and Nagothane in Maharashtra.

Ethylene plants and petrochemical business of RIL

Globally, there are 270 ethylene plants, according to RIL. The combined capacity is over 170 mtpa. After the commission of this unit, the total capacity of ethylene of RIL is 4 mtpa across five sites.

After doubling the ethylene capacity, RIL joins the league of top petrochemical producers in the world. With imported ethane and ROGC, RIL has one of the most flexible and competitive cracker portfolios.

The petchem division of RIL clocked revenue of INR 92, 472 crore in the year 2016-2017 with the operating profit of INR 12,990 crore. Industry watchers believed that the revenue and profits could surpass its core in refinery business due to the newly commissioned petchem units. 

Jamnagar manufacturing division

Mukesh Ambani led RIL’s Jamnagar manufacturing division is the world’s largest refining hub. It has a crude processing capacity of 1.24 million Barrels Per Stream Day (BPSD). It has also won several awards and is a trendsetter. This refinery exports fuels across the world to many countries and is ready for the future as it can produce petrol and gasoline of any grade.


RIL to complete the petchem expansion plan of USD 16 billion.

RIL Celebrates 40 Years and the Company Owes it All to Dhirubhai Ambani

December 27, 2017

Mukesh Ambani said that the progress of Reliance Industries Limited (RIL) owes to his father and the founder, Dhirubhai Ambani.

Mukesh Ambani talks about his father

On the Reliance Family Day (RDF) and also the 40th anniversary of RIL, Ambani addressed his father as a timeless legend and an iconic Indian inspiration for all the generations. Ambani said that whatever RIL is today is because of his father. He stated that the company will remain true to his visions, principles, and ideals forever. He added that because of Dhirubhai Ambani, RIL has grown from a single employee to 2,50,000,  from a single city to 28,000 towns and cities and four lakh villages, and from an INR 1,000 company to over INR six lakh crore company.

Ambani’s message to the employees of RIL

Ambani talked about the employees who worked with his father and called them as the great pioneers of RIL. He said that these employees worked against the impossible and that too with meager resources. But still, these employees had the passion, ambition, humility, dedication, and the desire and dream to make the company the pride of India, he added.

RIL aims at being among the top 20 in the world

Ambani targets at being among the top 20 companies in the world. He said that the company aspires to become a global player in all the businesses it operates and become a leader in the clean and affordable energy.

The chairman said that the company is customer obsessed and Jio and Retail have captured the leadership positions in India. Jio has around 150 million customers and aims at transforming different sectors.

Other people speak about Dhirubhai Ambani and RIL

At the celebration, Nita Ambani said that the sons of the company will color the skies, the daughters will reach the stars, and the women will conquer new horizons.

Kokilaben Ambani was also present at the event and while congratulating his son, she wished a long life to the Reliance family.

Isha Ambani, daughter of Mukesh Ambani, said that Dhirubhai Ambani was the father of all the startups and in 1977 at the time of the start of RIL, he went to the common Indian man and said that the profit will be of the people and he will take the loss. This is wisdom that no one will ever teach, she added.

Amitabh Bachchan, the megastar of Bollywood was also present at the event. When talking about Dhirubhai Ambani, he said that he had no luxuries and was not the third or fourth generation of a businessman; he was the first and came among the top. He was a person that invented his own opportunities with his dreams.

About the event

The event was attended by over 50,000 people in Navi Mumbai at the Reliance Corporate Park. Over 2,00,000 employees joined the celebration via live video conferencing from more than 1,000 locations across the nation including the retail stores, Jio points, and manufacturing sites.

RDF has a tagline, “A family that works together celebrates together.” The celebration is going to last for a week and will end on 29th December.


RIL celebrates the 40th anniversary of the company as Reliance Family Day and Mukesh Ambani aims to be among the top 20 companies in the world.

RIL Plans to Expand its Retail Business

December 20, 2017

Mukesh Ambani led Reliance Industries Limited (RIL) is looking forward to expand its business-to-business play in the retail market by the distribution of white goods, Fast Moving Consumer Goods (FMCG), and apparel directly to kirana outlets and neighborhood as the company aims to capture a larger part of the market.

Reliance Retail’s expansion plan

Reliance Retail is planning to start the trail distribution of apparel from early next year and the vendors are already informed about it. This will be expanded into white goods and FMCG by April, next year.

Currently, organized retail in India has a total market share of 8 percent. Two of the senior executives of the industry said that the company wants to tap on the remaining 92 percent and it cannot achieve quick growth by only betting on the retail business, which is consumer-facing. An executive also said that although Reliance Retail will be starting with the private brands, it will soon expand into the mainstream brands, too. Another executive informed that the potential is huge as the distributors’ reach in small towns is limited.

Distribution for the retail market

RIL is planning to use the Jio network for Reliance Retail, wherein local shops and kiranas will receive the payments through JioMoney platform. It is also planning to offer additional help to small stores with financial support, merchandising operations, GST solutions, and also managing an efficient supply chain. The company plans to roll out the business of distribution in 10,000 towns and cities, where Jio is already present.

RIL’s distribution of smartphones

Mukesh Ambani led RIL has a good experience in distribution of smartphones. The first example can be of LYF smartphone, which was a successful business model. It started with its own brand and eventually did that for other brands as well. The private brands have witnessed success in its own outlets. An executive revealed that 23 percent sale in FMCG is of private brands.

During the July to September quarter in the business of distribution of smartphones, Reliance Retail joined hands with over 7.5 lakh retailers across the nation and sold over three million accessories and devices. This business gained such a large scale that the contribution of smartphones and electronics increased in the company’s turnover from 34 percent to 52 percent.

About Reliance Retail

Reliance Retail is a consumer-centric initiative, which has adopted a multi-prong strategy that operates supermarkets, neighborhood stores, wholesale cash and carry stores, online stores, and specialty stores. This has democratized access to a variety of services and products for different segments of consumers in India.

Reliance Retail operates Reliance Market stores, Reliance Fresh, and Reliance Smart in its grocery and food category. The consumer electronics category operates the Jio stores, Reliance Digital and Reliance Digital Express Mini stores. Reliance Retail also has a fashion category, which operates Trends Women, Reliance Footprint,, Reliance Jewels, Reliance Trends, and Project Eve.

There are 3,679 stores that are operated by Reliance Retail across 750 cities. In the financial year of 2016-2017, it reported a turnover of INR 33,765 crore.


Reliance Retail to expand its business-to-business distribution in white goods, FMCG, and apparel.

Data is the New Soil: Mukesh Ambani

December 6, 2017

At the HT Leadership Summit 2017, Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, spoke about how data connectivity and artificial intelligence will lead to a new industrial revolution; and how India offers the greatest investment opportunity in the world today.

Digital green revolution according to Ambani

Mukesh Ambani said that data is not only the new oil but also the new soil. According to him, there is a need and also an opportunity to create a digital green revolution using data.

Ambani’s definition of this digital green revolution covered the following points:

  • Mechanical services that are enabled digitally, which will benefit the farmers, regardless of their landholding
  • Fertilizers or pesticides enabled digitally to rejuvenate soil
  • Digitally enabled seed-to-crop process to get the best yield and increased income for farmers
  • Digitally enabled water management; and supply chain with full traceability, so that waste is removed at every stage and quality is assured

Mobile data and Jio

Further, Ambani spoke about Jio Infocomm and data consumption in the summit. Since its launch in September 2016, Jio posed tough competition in the telecom industry after offering free data and voice call offers. According to Ambani, the consumption of data has increased after this launch; catapulting India to the no. 1 rank for mobile broadband in the world, as compared to its earlier150th one.

Ambani believes that if Jio dons the mantle of leader then 19 lakh colleges, 700 universities, and 58,000 colleges in India will become digital.

India offers world’s greatest investment opportunity

Ambani believes that India offers the greatest investment opportunity across the globe. RIL backed his belief by investing USD 60 billion in the country when most other companies were investing abroad.

He expressed his conviction about data connectivity and artificial intelligence forming the base of the next industrial revolution; and how these could enable India to overtake even USA and China to become the largest economy in the world.

Further views on related topics

A few other notable points that Mukesh Ambani covered in his speech were:

  • Jio and artificial intelligence could serve to connect students from remote villages to faculty members from universities to deliver lectures
  • Data connectivity could help improve delivery of healthcare services remotely
  • Big data would prove to be a game-changer in the way business is done. Billions of data points would help anticipate and supply fulfillment of needs.
  • The Aadhar card has catapulted India decades ahead of even many advanced economies
  • Technology would provide an equitable and inclusive developmental model, based on good governance and a culture of empathy


Mukesh Ambani’s speech at the HT Leadership Summit 2017 emphasised how data connectivity and artificial intelligence would form the base of an industrial revolution and how India offered the greatest investment opportunity in the world.

All the Latest Reliance Jio Plans

November 1, 2017

Mukesh Ambani owned Reliance Jio has launched several prepaid plans for its customers. The plans come in varied price ranges and different validity periods.

Revising the data plans

Jio has been offering attractive offers and prices that customers can’t ignore. The company is offering a number of plans from a low price range to a high price range. The validity periods also vary, which makes it easier for users to select according to their data usage.

All the data plans by Jio

  • INR 19 plan

This plan is a one day plan and has 1.15GB data with 20 SMS and unlimited voice calls.

  • INR 52 plan

The INR 52 plan is a plan with unlimited high-speed data with a daily limit of 1.05GB. It has a validity of seven days and after exhausting the 1.05GB, the Internet speed will slow down to 64Kbps.

  • INR 98 plan

This plan of INR 98 has a validity of 14 days and users get a total of 2.1GB data. The daily data limit of this plan is 0.15GB, which means the speed will be reduced to 64Kbps after exhausting the daily limit.

  • INR 149 plan

This plan of INR 149 is has a validity of 28 days. It offers high-speed data of 4GB and also has a daily limit of 0.15GB, which means that the speed will reduce to 64Kbps after hitting the daily limit.

  • INR 309 plan

The INR 309 data plan has a validity of 49 days and it offers 1GB of data per day. If the user exhausts the daily limit then the Internet speed will be reduced to 64Kbps. This recharge also has unlimited voice calls and SMS.

  • INR 399 plan

This plan has a validity of 70 days and it offers 70GB of data. This plan has a daily limit of 1GB which means the speed of the Internet will be reduced to 64Kbps after exhausting the daily limit.

  • INR 459 plan

The INR 459 plan offers 84GB of data with a validity of 84 days. This plan also has a daily limit of 1GB and the Internet speed will be reduced to 64Kbps after exhausting the daily limit.

  • INR 499 plan

This plan has a validity of 91 days and offers 91GB. It also has a daily limit of 1GB post which the speed of the Internet will be reduced to 64Kbps. This plan also has unlimited voice calls and SMS.

  • INR 799 plan

This plan offers 3GB of data per day to its customers. The total data a user gets is 84GB. This plan has a daily limit of 3GB and the speed will be reduced to 64Kbps after exhausting the daily limit.

  • INR 999 plan

Under this plan, users will get 60GB Internet data with 4G speed for a period of 90 days. This plan has no daily limit, so it is perfect for people who have high data usage.


Mukesh Ambani led Jio has revised its prepaid data plans.

Mukesh Ambani Bags “Business Leader of the Year” Award

September 12, 2017

For the second time, Mukesh Ambani, the Chairman of Reliance Industries Limited (RIL) has been chosen as the “Business Leader of the Year” at the Economic Times (ET) Awards for his corporate excellence. He had won the same award back in 2006.

In the first round itself, Ambani received seven votes. His nearest rival had received four votes. The jury unanimously selected Ambani recognizing the disruption he created and the way he revolutionized the telecom and refinery industries in India.

Recent achievements of Mukesh Ambani

Since the past year, Ambani has added a number of achievements to his credit. He took his company and stocks to a new height. He also spearheaded the successful launch of the company’s game-changing ventures, shook the telecom market, stabilized fuel retail, and delivered top-class performance from RIL’s Jamnagar refinery.

Recently in August 2017, the shares of RIL witnessed a surge. Due to this, Ambani was able to add USD 12.5 billion to his wealth. This made him the second richest businessman in Asia, as per the Bloomberg billionaire’s index. His total wealth was accounted as USD 35 billion, which made him the 19th richest person in the world.

Reliance Jio’s success

In the past few years, Ambani has made huge capital investments. These investments are now adding to the company’s cash flows. One such major investment was in the telecom venture, Reliance Jio.

The launch of Reliance Jio in September 2016 played a major role in transforming the shape of the Indian telecom and digital market. The telecom company attracted millions of customers with its offering of free data at the beginning and low data packages now. The company also offers free lifetime voice calling and other services to its users.

In partnership with RIL’s retail arm, Reliance Jio has now announced India’s first-ever 4G VoLTE feature phone. The phone is available at a refundable price of INR 1,500 and is marketed as an “effectively free” product. Analysts predict that this move will help the company to break even before the expected time.

Growth of RIL’s oil and gas business

Mukesh Ambani is renowned for implementing world-class projects in his oil and gas business. In the 1990s, he led the creation of RIL’s Jamnagar refinery, which is the largest in the world. He has expanded the company’s refining capacity since then to reach 1.24 million barrels per day. In the April-June 2017 quarter, the net profit of RIL crossed the INR 9,000 crore-mark. Its refining margin was around two times higher than that of other similar Asian companies.

Out of Ambani’s 40 years as an RIL board member, last year has been the most significant one. The company withstood serious disputes on regulatory matters with the oil ministry and resolved them. This eventually led it to make the recent big announcement of investing USD 6 billion for the production of natural gas from KG-basin’s deep-sea fields. Besides, the company has also revived its network of petrol pumps, which resulted in it recording higher sales than the industry average.


For the second time, Mukesh Ambani won the title of “Business Leader of the Year” at the Economic Times Awards.