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RIL AGM 2021: Reliance Retail to create 10 lakh jobs, on a hyper growth trajectory, says Mukesh Ambani

·3 min read

Chairman of Reliance Industries Limited (RIL), Mukesh Ambani during the 44th Annual General Meeting said the company's retail business is on a hyper-growth trajectory and will provide 10 lakh jobs in the near future.

"Even in these challenging times, I am personally proud to report to you that Reliance Retail has not only protected jobs, but also created over 65,000 new jobs. Reliance Retail currently employs over 2 lakh people making us one of the largest employers in the country. Over the next three years, we shall further create employment for over ten lakh people and enable the livelihoods for many more," sai Ambani.

RIL added 1,500 new stores, which is amongst the largest retail expansion undertaken by any retailer during this period, taking the store count to 12,711.

"RIL's apparel business sold nearly five lakh units per day and over 18 crore units during the year. "This is equivalent to dressing the entire population of UK, Germany and Spain once," said Ambani.

Ajio has emerged as one of the leading digital commerce platforms for fashion and lifestyle with a portfolio of over 2,000 labels and brands and listing of over 5 lakh options. "Driven by innovation, Ajio now contributes to over 25 percent of our apparel business," added the RIL chairman.

"We further consolidated our position in consumer electronics and sold 4.5 crore units of electronics last year which translates to over 120,000 units per day," he said.

As India's largest grocery retailer, Reliance Retail sold over a billion units of groceries or about 30 lakh units per day.

Click here to find out how to watch the 4th Reliance AGM

JioMart registered over 6.5 lakh peak orders in a single day.

Over the past year, over 3 lakh merchant or shop keeper partners across 150 cities were enabled and empowered to transform their businesses both physically and digitally.

"Our promise to them is simple: 'Customer Apka, Support Hamara' €" We support you, so that you can serve your customers better' A testament to our promise is that we have seen a 3x growth in kirana orders and 2x growth in order frequency," said Mukesh Ambani.

In order to expand the retail business, RIL will be focussing on the following five key initiatives.

First, further investment in research, design and product development capabilities.

Second, RIL will further strengthen its sourcing ecosystem working closely with producers, MSMEs, service providers, local and international brand companies.

Third, RIL is investing in building state-of-the-art supply chain infrastructure across India by linking all major sourcing and consumption locations. "An automated, modular, reliable and scalable warehousing and logistics ecosystem will enable us to deliver products anywhere across the country in the shortest possible time," announced Ambani.

Fourth, the conglomerate will focus on expanding its store footprint multi-fold this year with co-located delivery hubs over the next few years.

And fifth, RIL will continue acquiring businesses to heighten offering and experience to customers, sharpen omni-channel capabilities, drive operating efficiencies and strengthen talent pool. Recent acquisitions include leading physical/digital commerce platforms like Netmeds, Urban Ladder and Zivame.

"Retail is on a hyper growth trajectory to grow at least 3x in the next 3-5 years," he said.

At the Reliance AGM, Ambani also revealed Jio's partnership with Google to develop an 'ultra-affordable 4G smartphone' has resulted in the creation of a new device named the JioPhone Next.

On the energy front, the RIL chairman unveiled Reliances' mega plan to invest Rs 75,000 crore in the next three years to set up a solar manufacturing unit facility, a battery factory to store energy, a fuel cell-making factory and an electrolyser unit to produce green hydrogen as a part of the business.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investment Ltd which publishes Firstpost

Also See: Full text of Mukesh Ambani's speech at RIL AGM 2021: 'Even in challenging environment, RIL’s performance continued to be outstanding'

Reliance AGM 2021: 'Confident to be the first one to launch full-fledged 5G services', says Mukesh Ambani

RIL AGM 2021: RIL-Saudi Aramco deal likely this year; Yasir Al-Rumayyan joins board

Read more on Business by Firstpost.

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