Opinion | Mukesh Ambani vs Jeff Bezos is the bout that had to happen
5 years, 11 months ago

Opinion | Mukesh Ambani vs Jeff Bezos is the bout that had to happen

Live Mint  

The battle for the Indian consumer was never going to be an all-American affair. Walmart Inc.’s splashy acquisition last year of Flipkart Online Services Pvt., the homegrown e-tailer giving Amazon.com Inc. a solid run for its money, might have given the impression of a two-horse race. Ambani, chairman of the petrochemicals-to-telecom conglomerate Reliance Industries Ltd., has a four-legged plan to connect India’s 30 million small retailers with consumers. One, neighborhood marts will be connected to Reliance Retail Ltd.’s footprint of almost 10,000 stores, offering them common inventory-management, billing and tax platforms as well as low-cost payment terminals. Out of the country’s 500 million Internet users, almost 200 million live in rural areas where one out of four goes online less than once a month.

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History of this topic

Musk vs Ambani: A celestial battle for India's broadband future
1 month, 3 weeks ago

Musk vs Ambani: A celestial battle for India's broadband future

Live Mint  

Elon Musk and Mukesh Ambani, two of the world's richest persons, are circling over India's satellite broadband market—possibly the next frontier of the Indian telecom wars—and taking opposing positions. Meanwhile, Musk’s proximity to incoming US president Donald Trump adds another dimension, in addition to technology and business models, for dominance of an industry of great strategic importance. Musk reportedly sat …

RIL AGM 2024: Reliance Retail Among Top-5 Global Retailers In Store Numbers, Mukesh Ambani Shares 6 Pillars
4 months, 2 weeks ago

RIL AGM 2024: Reliance Retail Among Top-5 Global Retailers In Store Numbers, Mukesh Ambani Shares 6 Pillars

News 18  

Reliance AGM 2024 Live: Reliance Industries chairman Mukesh Ambani on Thursday announced that Reliance Retail is among the top 5 global retailers in terms of number of stores. During the year, Reliance Retail undertook an equity fund raise of ₹17,814 crore, achieving a valuation milestone of USD 100 billion. Mukesh Ambani shared six pillars of retail business; “First, the retail …

Reliance AGM 2024: Reliance to build Gigawatt-scale, AI-ready data centres in Jamnagar, says Mukesh Ambani
4 months, 2 weeks ago

Reliance AGM 2024: Reliance to build Gigawatt-scale, AI-ready data centres in Jamnagar, says Mukesh Ambani

India TV News  

Reliance AGM 2024: Reliance chairman Ambani on Thursday made a big announcement and said the Reliance will be building Gigawatt-scale, AI-ready data centres in Gujarat’s Jamnagar. We plan to establish gigawatt-scale AI-ready data centres in Jamnagar, powered entirely by Reliance’s green energy, reflecting our commitment to sustainability and a greener future.” He stated that the prime goal is to create …

FACT CHECK: Fake video of Mukesh Ambani endorsing stock market forum circulates | Here's the truth
10 months, 2 weeks ago

FACT CHECK: Fake video of Mukesh Ambani endorsing stock market forum circulates | Here's the truth

India TV News  

A video circulating on social media purportedly showing billionaire Mukesh Ambani endorsing a stock market forum has been debunked as a deepfake by the India TV Fact Check team. Origins of the fake video unveiled The original footage of Ambani speaking at the Vibrant Gujarat Summit 2024 was manipulated to create the deceptive clip, which was shared on a Facebook …

Mukesh Ambani's Reliance set to acquire over 50% stake in Disney India, says report
11 months, 2 weeks ago

Mukesh Ambani's Reliance set to acquire over 50% stake in Disney India, says report

Hindustan Times  

Reliance Industries Limited, led by billionaire Mukesh Ambani, is set to acquire over 50 percent stake in Disney India in preparation of the mega-merger between the two media entities in a few months, reported Reuters. Ambani's Reliance is expected to pick up around 51-54 percent stake in the company, valuing the US giant's domestic business at $3.5 billion. The deal …

Mukesh Ambani rejoins $100 billion club as Reliance stock surges record 2.6%
1 year ago

Mukesh Ambani rejoins $100 billion club as Reliance stock surges record 2.6%

Live Mint  

Mukesh Ambani is once again a centibillionaire. The richest person in India — and in Asia — saw his wealth climb $2.8 billion to $101.8 billion Thursday, as shares of his flagship, Reliance Industries Ltd., rose 2.6% to close at a record high. The listing last year of Reliance’s financial services unit, Jio Financial Services Ltd., helped to broaden the …

DC Edit | Ambani's succession plan an exemplar
1 year, 4 months ago

DC Edit | Ambani's succession plan an exemplar

Deccan Chronicle  

Throughout history, endeavours to partition shared wealth has always been tricky, dividing families and estranging siblings, leaving a trail of bitterness and loss of focus, lost opportunities and decay and decline of enterprises. One of the classic examples was the feud between the Ambani brothers — Mukesh and Anil — in 2004 over Rs 94.968 crores worth of shared business …

RIL AGM 2023: Mukesh Ambani lists 5 goals that will fulfil dreams of 1.4 billion Indians
1 year, 4 months ago

RIL AGM 2023: Mukesh Ambani lists 5 goals that will fulfil dreams of 1.4 billion Indians

Firstpost  

At the 46th RIL AGM, Mukesh Ambani called the new Reliance ‘a new-age technology company. Today, we are a producer, deployer and democratiser of technology’ Mukesh Ambani, Chairman and Managing Director of Reliance Industries, on Monday listed out five goals that will fulfil the dreams of all 1.4 billion Indian. Speaking about his futuristic plans at the Reliance Industries Limited’s …

Reliance AGM 2023: Mukesh Ambani To Remain Chairman & MD for Next 5 Years
1 year, 4 months ago

Reliance AGM 2023: Mukesh Ambani To Remain Chairman & MD for Next 5 Years

News 18  

Mukesh Ambani, chairman of Reliance Industries Limited, on Monday addressed the 46th Annual General Meeting. This AGM closely follows the listing of Jio Financial Services and Qatar Investment Authority’s purchase of a stake in Reliance Retail Ventures Limited. While chairman Mukesh Ambani-led conglomerate is set for its 46th AGM, investors have been eagerly waiting for announcements on the timeline of …

Ambani Scions Made Reliance Board Members
1 year, 4 months ago

Ambani Scions Made Reliance Board Members

Deccan Chronicle  

The Reliance Industries Limited held its 46th Annual General Meeting for its shareholders on Monday. Changes in Reliance Board Nita Ambani stepped down from the Board of Directors of Reliance Industries Limited, making way for children Isha, Akash and Anant to become the non-executive directors on the RIL Board. Key Takeaways Jio Financial Services was mini bonus for long-term RIL …

RIL 46th AGM: Ambani scions to join Reliance board
1 year, 4 months ago

RIL 46th AGM: Ambani scions to join Reliance board

Live Mint  

On the 46th RIL AGM, Reliance Industries Ltd appointed Isha Ambani, Akash Ambani, and Anant Ambani as directors to the board of the oil-to-telecoms conglomerate. In an exchange filing, RIL informed shareholders on Monday, "The Board of Directors of RIL, at its meeting held today, on the recommendation of the Human Resources, Nomination and Remuneration Committee, considered and recommended to …

Battle of billionaires: Elon Musk’s Starlink eyes India, Mukesh Ambani resists
1 year, 6 months ago

Battle of billionaires: Elon Musk’s Starlink eyes India, Mukesh Ambani resists

Live Mint  

Elon Musk is eager to bring his Starlink satellite broadband to India, but the world's richest man faces strong resistance from Mukesh Ambani, Asia's wealthiest, who runs Indian telecom giant Reliance Jio. In signs of deepening rivalry, an industry source with direct knowledge said Reliance will continue nudging the Indian government to auction satellite spectrum, and not agree to the …

After telecom and retail, what is Mukesh Ambani’s next big plan?
2 years ago

After telecom and retail, what is Mukesh Ambani’s next big plan?

Live Mint  

Mukesh Ambani, the billionaire chairman of Reliance Industries Ltd., will be focusing his attention on the Indian conglomerate’s pivot to green energy, according to people familiar with the matter, after putting his children in charge of other businesses. Asia’s second-richest man is known for his single-minded focus on key pursuits: In the 1990s he lived for months in shipping containers …

Mukesh Ambani sets goals for children, cites Lionel Messi to explain leadership
2 years ago

Mukesh Ambani sets goals for children, cites Lionel Messi to explain leadership

The Hindu  

Billionaire Mukesh Ambani has a pan-India 5G mobile network rollout plan by 2023-end, chasing more ambitious goals in retail and making Reliance India's greenest corporate as goals for his three children as he cited the example of Messi to explain leadership and teamwork. Speaking to company employees at his father and founder Dhirubhai's birth anniversary, celebrated as Reliance Family Day, …

On Reliance Family Day event, Mukesh Ambani reveals RILs big future plans
2 years ago

On Reliance Family Day event, Mukesh Ambani reveals RILs big future plans

India TV News  

Reliance Family Day 2022: Speaking at his father Dhirubhai Ambani's birth anniversary on Wednesday, Reliance Industries chairman Mukesh Ambani revealed the company's succession plans and targets that he has set for his three children. Isha Ambani The RIL chairman noted that Reliance's retail business has grown rapidly under Isha, adding, "I know that all of you in the Retail team …

With Mukesh Ambani as chairman for 20 yrs, Reliance....
2 years ago

With Mukesh Ambani as chairman for 20 yrs, Reliance....

Hindustan Times  

Reliance Industries Chairman and Managing Director Mukesh Ambani has completed two decades at the helm of Reliance Industries in 2022. Among the several achievements, RIL's market capitalisation grew at an annualised rate of 20.6 per cent in the last 20 years from ₹41,989 crore in March 2002 to ₹17,81,841 crore in March 2022. Reliance's total assets grew at an annualised …

Mukesh Ambani prepares to hand a $220 billion empire to his children
2 years, 4 months ago

Mukesh Ambani prepares to hand a $220 billion empire to his children

CNN  

New Delhi CNN Business — Indian billionaire Mukesh Ambani has laid out plans to hand his sprawling business empire to his children, while insisting he has no intention of retiring any time soon. Ambani, 65, set out his succession plan on Monday, telling shareholders in his Reliance Industries conglomerate that his three children are “first among equals” and are being …

Reliance Retail Now Has Over 200 Million Registered Customers: Retail Business Leader Isha Ambani
2 years, 4 months ago

Reliance Retail Now Has Over 200 Million Registered Customers: Retail Business Leader Isha Ambani

News 18  

At the 45th Annual General Meeting of Reliance Industries Limited, Chairman and Managing Director Mukesh Ambani introduced Isha Ambani as the leader of Reliance Retail business. Isha Ambani took the centre-stage to talk about the growth of Reliance Retail in India and said that Reliance Retail has served over 200 million registered customers. Isha Ambani claimed that Reliance’s grocery business …

Jio to launch 5G by Diwali, aims to cover entire country by 2023, Mukesh Ambani tells shareholders
2 years, 4 months ago

Jio to launch 5G by Diwali, aims to cover entire country by 2023, Mukesh Ambani tells shareholders

Firstpost  

Reliance Industries Chairman and Managing Director, Mukesh Ambani, virtually addressed the shareholders at the 45th annual general meeting on Monday afternoon in the immersive and interactive 3D world of metaverse Reliance Industries broadcasted its annual shareholder meeting simultaneously on a virtual reality platform as well as on five social media platforms. “Jio’s pan-India fibre-optic network is over 11 lakh km …

Mukesh Ambani details succession plan; retail to Isha, energy to Anant
2 years, 4 months ago

Mukesh Ambani details succession plan; retail to Isha, energy to Anant

The Hindu  

Billionaire Mukesh Ambani on Monday laid bare the succession plan at India’s most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. At the annual shareholders’ meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains “a unit, well-integrated …

With $208 billion in fortunes, Ambani and Adani start to face off
2 years, 5 months ago

With $208 billion in fortunes, Ambani and Adani start to face off

Hindustan Times  

In June, Indian billionaire Mukesh Ambani and his aides ran into an unexpected dilemma when debating where to train the dealmaking lens of his empire next. Ambani’s Reliance Industries Ltd. was contemplating buying a foreign telecommunications giant, when word reached them that Gautam Adani -- who had overtaken Ambani as Asia’s richest man a few months earlier -- was planning …

With son’s appointment, Mukesh Ambani sets transition stage
2 years, 6 months ago

With son’s appointment, Mukesh Ambani sets transition stage

Al Jazeera  

For years, Mukesh Ambani has studied the ways in which billionaire families passed on what they had built to the next generation. Indian billionaire Mukesh Ambani has stepped down from the role of director of the telecoms arm of Reliance Industries in favour of his son Akash, setting the stage for a leadership transition at his energy-to-retail conglomerate. The change …

Ambani charts succession plan; hands over telecom business reins to son Akash
2 years, 6 months ago

Ambani charts succession plan; hands over telecom business reins to son Akash

The Hindu  

In the first clear signs of a succession plan being charted out at India's most valuable company, billionaire Mukesh Ambani resigned from the board of his $217 billion group's telecom arm, Reliance Jio, and handed over the firm's reins to elder son Akash. In a stock exchange filing, Reliance Jio Infocomm Ltd on Tuesday said the company's board at a …

Mukesh Ambani steps down as Reliance Jio's director, son Akash appointed chairman
2 years, 6 months ago

Mukesh Ambani steps down as Reliance Jio's director, son Akash appointed chairman

India Today  

Mukesh Ambani has resigned as director of Reliance Jio effective from June 27 and handed over the reins of the company to his elder son Akash. In a stock exchange filing, Reliance Jio said the company's board at a meeting approved the appointment of Akash Ambani, non-executive director, as chairman of the board of directors of the company. The board …

Mukesh Ambani resigns from Reliance Jio, Akash Ambani named chairman
2 years, 6 months ago

Mukesh Ambani resigns from Reliance Jio, Akash Ambani named chairman

Live Mint  

The digital arm of Reliance Industries, Reliance Jio Infocomm Ltd, on Tuesday announced that Ambani would resign as the director of the company effective from 27 June. In a regulatory filing, Reliance Jio said the company's board at a meeting on 27 June, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of …

Mukesh Ambani’s consumer empire gets a cricket spin
2 years, 7 months ago

Mukesh Ambani’s consumer empire gets a cricket spin

Live Mint  

After solidifying his control of a $2 telecom carriage business, the world’s seventh-richest man is seeking his next fortune in a $1 content-streaming enterprise. Actually, the spoils from the digital rights for Indian Premier League cricket, snagged by billionaire Mukesh Ambani’s Viacom18 by dethroning Walt Disney & Co. for the next five years, aren’t even at the $1 mark yet. …

Reliance abandons plans to buy Indian retailer amid challenges
2 years, 8 months ago

Reliance abandons plans to buy Indian retailer amid challenges

Al Jazeera  

Reliance’s decision to back out comes after almost two years of litigation as Amazon contested the takeover. In a filing Saturday, Reliance Industries Ltd. said its proposal to acquire certain assets of Mumbai-based Future Group — which ran the nation’s biggest retail grocery chain before the pandemic struck — “cannot be implemented” after its flagship firm Future Retail Ltd. failed …

Mukesh Ambani vs Amazon: How Reliance is winning game of thrones in Future retail dispute
2 years, 10 months ago

Mukesh Ambani vs Amazon: How Reliance is winning game of thrones in Future retail dispute

India Today  

Mukesh Ambani's Reliance Industries and US giant Amazon have been vying to get the upper hand in one of the world's fastest-growing retail markets, which is India. AMAZON-FUTURE DISPUTE AND RELIANCE In 2019, Amazon and Future, number two player in India behind market leader Reliance, became business partners when the US company invested $200 million in a unit of the …

India’s Reliance: Mukesh Ambani is bringing 7-Eleven to the country
3 years, 3 months ago

India’s Reliance: Mukesh Ambani is bringing 7-Eleven to the country

CNN  

Hong Kong CNN Business — India’s richest man is bringing 7-Eleven to the country, adding the convenience store chain to a sprawling business empire that spans energy, chemicals, retail and telecommunications. Reliance Retail, the commerce arm of Mukesh Ambani’s conglomerate, announced Thursday that it will open India’s first 7-Eleven stores, just days after the quick-service chain lost its local partner. …

Big win for Amazon over rival Reliance in India top court battle
3 years, 5 months ago

Big win for Amazon over rival Reliance in India top court battle

Al Jazeera  

India’s Supreme Court blocks $3.4-bn deal struck by Reliance as battle to dominate country’s retail sector intensifies. US e-commerce giant Amazon has won a major legal victory in India as the country’s top court blocks a $3.4bn deal struck by domestic rival Reliance. Amazon, Walmart-backed Flipkart and Reliance, owned by Asia’s richest man Mukesh Ambani, are locked in a titanic …

Jeff Bezos’s Amazon just won in a major battle with Mukesh Ambani’s Reliance
3 years, 5 months ago

Jeff Bezos’s Amazon just won in a major battle with Mukesh Ambani’s Reliance

CNN  

New Delhi CNN Business — India’s top court has handed Amazon a major victory in its fight with Reliance Industries for the country’s growing e-commerce market. On Friday, the Supreme Court of India ruled in favor of the American company’s efforts to stop its rival Reliance from buying Future Retail, a local, cash-strapped retailer. Future Group had raised questions about …

RIL AGM 2021: Mukesh Ambani Finds New Energy to Go Green, Throws a Challenge At Elon Musk
3 years, 6 months ago

RIL AGM 2021: Mukesh Ambani Finds New Energy to Go Green, Throws a Challenge At Elon Musk

News 18  

By deciding to go green, Reliance Industries Ltd chairperson, Mukesh Ambani has joined the list of industrialists like Ratan Tata, Gautam Adani and Tesla founder Elon Musk. At the 44th Annual General Meeting of Reliance Industries Limited on Thursday, the conglomerate’s chairperson Mukesh Ambani announced they would be building four giga factories as part of the environment-friendly initiatives with an …

RIL AGM: ’Jio is not just working to make India 2G-mukt, but also 5G-yukt’, says Mukesh Ambani
3 years, 6 months ago

RIL AGM: ’Jio is not just working to make India 2G-mukt, but also 5G-yukt’, says Mukesh Ambani

Live Mint  

Reliance Industries' Chairman Mukesh Ambani made major announcements at the company's 44th Annual General Meeting today. I am confident that Reliance Retail is on a hyper growth trajectory to grow at least 3x in the next 3-5 years: Mukesh Ambani -Talking about Reliance Retail, Ambani says that the company added 1,500 new stores, which is amongst the largest retail expansion …

Reliance AGM: Silicon Valley gave Mukesh Ambani billions, but things aren’t all going to plan
3 years, 6 months ago

Reliance AGM: Silicon Valley gave Mukesh Ambani billions, but things aren’t all going to plan

CNN  

San Francisco CNN Business — Last year, Google and Facebook collectively bet more than $10 billion on Asia’s richest man and his plan to bring hundreds of millions of Indians online. The investments quickly established Mukesh Ambani, the billionaire head of sprawling Indian conglomerate Reliance, as a gatekeeper for Silicon Valley in the country — but also raised the stakes …

Indian billionaire Mukesh Ambani may hold the winning ticket in tech and Silicon Valley knows it
3 years, 11 months ago

Indian billionaire Mukesh Ambani may hold the winning ticket in tech and Silicon Valley knows it

CNN  

Mukesh Ambani has spent years trying to turn hisinherited oil businessinto a tech empire. He’s doing that with JioMart, an initiative announced in 2019 to bring online thousands of India’s mom-and-pop stores known as “kiranas.” And Reliance Retail recently acquired one of its biggest Indian rivals, Future Retail, for $3.3 billion — a deal that has kicked off a protracted …

Battle of billionaires: India regulators to decide Future’s fate
4 years ago

Battle of billionaires: India regulators to decide Future’s fate

Al Jazeera  

If the deal with Reliance goes ahead, it will delay Amazon’s goal of capturing India’s groceries market, which is forecast to be worth $740bn per year by 2024. If the deal with Reliance goes ahead, it will delay Amazon’s goal of capturing India’s massive groceries market that Forrester Research estimates will be worth $740bn a year by 2024. “There have …

Mukesh Ambani And Mark Zuckerberg In Conversation at Facebook Fuel For India 2020: Key Takeaways
4 years, 1 month ago

Mukesh Ambani And Mark Zuckerberg In Conversation at Facebook Fuel For India 2020: Key Takeaways

News 18  

Two of the biggest names in the world of business. The two business leaders spoke about the importance of digital connectivity as a means to empower the masses, how small businesses get a much-needed push with the correct technology and tools in place, Jio’s partnership with Facebook as well as India’s Digital India mission and the entrepreneurial journey. Ambani said …

Mukesh Ambani calls for early rollout of 5G services
4 years, 1 month ago

Mukesh Ambani calls for early rollout of 5G services

The Hindu  

While pitching for an early rollout of 5G services, Reliance Industries Chairman Mukesh Ambani on Tuesday called for urgent policy measures to ensure access to affordable smartphones for 300 million mobile subscribers “trapped in the 2G era”. Urgent policy steps are needed to ensure that these underprivileged people have an affordable smartphone, so that they too can benefit from Direct …

Mukesh Ambani Presents Four Ideas of Digital Transformation at India Mobile Congress 2020
4 years, 1 month ago

Mukesh Ambani Presents Four Ideas of Digital Transformation at India Mobile Congress 2020

News 18  

India stands at the forefront of its digital revolution, and is poised to lead the world in the latest wave of digital industrial revolution, said Mukesh Ambani, chairman and managing director of Reliance Industries Limited, addressing Prime Minister Narendra Modi, union telecom minister Ravi Shankar Prasad and other dignitaries at the opening keynote of the India Mobile Congress 2020. Urgent …

Reliance CEO Mukesh Ambani loses billions as oil slump hits shares
4 years, 2 months ago

Reliance CEO Mukesh Ambani loses billions as oil slump hits shares

CNN  

Hong Kong CNN Business — Mukesh Ambani has long been trying to reduce his company’s reliance on oil. Shares of Reliance Industries dropped in Mumbai after the company posted disappointing earnings late Friday, mainly due to a tough quarter for its giant oil refinery business. Pretax profit fell 30% over the three months through September compared to a year ago, …

Jeff Bezos vs Mukesh Ambani: A fight for retail dominance in India
4 years, 2 months ago

Jeff Bezos vs Mukesh Ambani: A fight for retail dominance in India

India Today  

The recent legal dispute over the Future deal seems to be setting the stage for a major fight between two of the richest men in the world for retail dominance in India. Earlier this year, Mukesh Ambani-owned Reliance Industries Limited announced that it had signed a deal with Kishore Biyani’s Future Group to acquire assets in its retail business for …

Reliance Jio and more businesses will launch more apps, digital platforms in 2021
4 years, 3 months ago

Reliance Jio and more businesses will launch more apps, digital platforms in 2021

India TV News  

Businesses will further accelerate the pace of their digital activities in 2021 by creating new-age apps and platforms and the world will see this battle ratcheting up in intensity in India led by Reliance Jio Platforms, a new report has said. However, we will see this battle ratcheting up in intensity, especially in India," said Ashutosh Sharma, VP, Research Director. …

Mukesh Ambani's Reliance goes on shopping spree to take on e-commerce giants in India
4 years, 4 months ago

Mukesh Ambani's Reliance goes on shopping spree to take on e-commerce giants in India

India Today  

Reliance Industries Limited has gone on a shopping spree after the company successfully managed to become debt free earlier this year. Now, the sixth-richest man in the world is looking expand RIL’s product offerings by acquiring several local online retailers as it looks to take on other online retailers and e-commerce giants. Sources quoted in a Bloomberg news report indicate …

Can Mukesh Ambani take on Tencent, Huawei and Xiaomi?
4 years, 6 months ago

Can Mukesh Ambani take on Tencent, Huawei and Xiaomi?

Live Mint  

With the $28 billion he’s raised working from home, India’s richest man wants to step into the breach created by the technology cold war between America and China. Ambani’s four-year-old Jio Platforms Ltd. has indigenously built its own 5G technology, the tycoon announced at Wednesday’s annual general meeting of his flagship Reliance Industries Ltd. After testing it on the 400 …

After $20 billion Jio frenzy, Mukesh Ambani seeks money for retail
4 years, 6 months ago

After $20 billion Jio frenzy, Mukesh Ambani seeks money for retail

Live Mint  

After raising more than $20 billion for his digital venture in three months, billionaire Mukesh Ambani is readying his retail unit for global partners, as his oil-to-petrochemicals conglomerate turns to India’s billion-plus consumers for growth. Asia’s richest man and the chairman of Reliance Industries Ltd. told shareholders Wednesday that Reliance Retail Ltd. is getting inquiries from investors and may start …

With Jio, Google and Facebook, Mukesh Ambani plots a tech future
4 years, 6 months ago

With Jio, Google and Facebook, Mukesh Ambani plots a tech future

Live Mint  

After securing more than $20 billion in investment from the likes of Google and Facebook Inc., Indian billionaire Mukesh Ambani laid out a vision for his digital venture as he seeks to build a homegrown technology titan that could rival global giants. Outlining plans for Jio Platforms Ltd. at the annual shareholders meeting of his conglomerate Reliance Industries Ltd. on …

Google to invest USD 4.5 billion in Reliance Jio, for a 7.7% stake
4 years, 6 months ago

Google to invest USD 4.5 billion in Reliance Jio, for a 7.7% stake

Op India  

Google’s parent company Alphabet Inc has become the latest high-profile organisation to invest in India’s telecom giant Reliance Jio Platforms. Mukesh Ambani, the Chairman of Reliance India chairman on Wednesday confirmed that Google will invest over Rs 33,737, or USD 4.5 billion for a 7.7 per cent stake in Jio Platforms taking the string of investments well over Rs 1,52,000 …

Mukesh Ambani, Asia’s wealthiest man, is now among the world’s ten richest people
4 years, 6 months ago

Mukesh Ambani, Asia’s wealthiest man, is now among the world’s ten richest people

CNN  

New York CNN Business — Asia’s richest man, Mukesh Ambani, is now among the world’s top 10 wealthiest people. Under Ambani’s leadership, Reliance has grown from an oil and energy company into a sprawling conglomerate that includes retail shops, a mobile and broadband carrier, digital platforms and more. This new milestone comes shortly after Ambani amassed more than $16.5 billion …

Facebook-Jio deal under competition panel’s review to prevent data misuse
4 years, 6 months ago

Facebook-Jio deal under competition panel’s review to prevent data misuse

Live Mint  

India’s antitrust watchdog is reviewing Facebook Inc.’s purchase of a 10% stake in Reliance Industries Ltd.’s digital assets, a deal that would give the US giant another foothold in one of the world’s fastest growing internet markets. Peculiarities such as “strong network effects, high returns to scale and access to a huge amount of data” may incentivize digital firms to …

Reliance CEO Mukesh Ambani is trying to build the next global technology giant
4 years, 7 months ago

Reliance CEO Mukesh Ambani is trying to build the next global technology giant

CNN  

Hong Kong CNN Business — Mukesh Ambani wants to build the next global technology company. Jio Platforms already has an ecosystem of apps —which feature everything from online grocery shopping to video streaming — that it serves to the 388 million peoplesubscribed through the Reliance Jio mobile network in India. The “ultimate goal,” according toCounterpoint Research analystTarun Pathak, is to …

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