Reliance Retail will expand beyond retail into manufacturing and exports, Mukesh Ambani announced
It is building an Advanced Manufacturing Platform spanning beverages, daily essentials, fresh fruits and vegetables
Also building an Exports Platform to create a global FMCG business
Reliance Retail has decided into manufacturing and export business, Mukesh Ambani, Chairman and MD of Reliance Industries said during the company's 49th Annual General Meeting (AGM) on Friday.
"Reliance Retail is now poised for another great leap forward. Between Reliance Retail and RCPL, we will add two powerful growth-boosting platforms," Ambani said.
He added that Reliance is building an "Advanced Manufacturing Platform" and an "Exports Platform".
"We are building a manufacturing platform extending from beverages and daily essentials to one of the most unorganised categories - fresh fruits and vegetables. This category is in urgent need of waste reduction, hygiene promotion, and higher safety standards," Ambani said, adding that the company will modernise by bringing its sourcing, cold-chain and distribution chains together, and producing fresh goods.
"This will give farmers fairer returns, shopkeepers dependable supply, and every family fresher food at fairer prices," he said.
Ambani said that the company is also building a future-ready garment manufacturing ecosystem and has similar plans for affordable electronics.
On the Exports Platform, he said that that the platform would only be a logical extension of the manufacturing platform. He said that the company looks to build strong and scalable global FMCG business to serve diverse consumer needs across various markets.
