Google And Qualcomm Deal With 5G, Jiomart Will Be Available On WhatsApp
Mukesh Ambani recently handed over the command of the telecom business to his eldest son Akash Ambani. In the meeting, big announcements were made by RIL regarding the expansion of business.
At the 45th Annual General Meeting (AGM) of Reliance Industries Limited (RIL), Chairman Mukesh Ambani announced the succession plan. He talked about handing over the retail business to his daughter Isha Ambani and the new energy business to younger son Anant Ambani. Mukesh Ambani recently handed over the command of the telecom business to his eldest son Akash Ambani. In the meeting, big announcements were made by RIL regarding the expansion of business. Let's take a look at these...
Big announcement regarding new energy business
Mukesh Ambani said that Akash and Isha have been playing an active role in the Jio and retail business since its inception. Now associated with the Renewable Energy business with great enthusiasm and is spending most of his time in Jamnagar. Mukesh Ambani announced his entry into the new energy business last year. Under this, factories will be built in Jamnagar. In these, products related to the new energy business will be manufactured.
Jiomart will be available on WhatsApp
Reliance Retail has partnered with technology company Meta (Facebook) to make JioMart available on WhatsApp. With this partnership, customers of Reliance Retail will be able to order groceries through WhatsApp. The two companies said in a joint statement that WhatsApp will add JioMart grocery lists for online shoppers. Customers can purchase items from this list by paying for 'carts'.
Google-Qualcomm Agreement on 5G
Mukesh Ambani announced a partnership with Qualcomm, and Reliance Jio to build 5G network solutions in the country. He added that the company is also partnering with Google to develop highly affordable 5G smartphones and Google Cloud. Apart from this, partnerships are also being done with Microsoft and Intel.
75-75 thousand crores to be invested in petrochemical and new energy business
Mukesh Ambani also announced the expansion of his oil-to-chemical (OTC) and new energy business. Under this, 75-75 thousand crore rupees will be invested in O2C and New Energy business. With this investment, the value chain of the O2C business will be expanded and a polyester production plant will be set up in Dahej, Gujarat. The plant will be built with the aim of increasing the capacity of polyester production and is expected to be completed by 2026. The company's plan has also set a target to increase Reliance's stake in domestic gas production to 30 percent from the current 20 percent.
Reliance Retail to start FMCG business
Reliance Retail Ventures Limited (RRVL) director Isha Ambani announced the launch of the FMCG business this year during the AGM. According to the report of news agency PTI, he said the aim of starting this business is to solve the daily needs of every Indian family. Under this, high-quality products will be made available at affordable prices. Apart from this, Reliance Retail will also sell products made by Indian artisans. Isha said that this will not only provide employment and entrepreneurship opportunities to Indian businessmen, especially women, but will also help in preserving talent, skills, and knowledge.
