RIL AGM 2020: Reliance Retail at forefront of bringing about Organised Retail Revolution in India, says Mukesh Ambani

The company is also partnering with farmers, small and medium-scale manufacturers, merchants, vendors, start-ups and global companies.

FP Staff July 15, 2020 20:13:05 IST
RIL AGM 2020: Reliance Retail at forefront of bringing about Organised Retail Revolution in India, says Mukesh Ambani

Addressing the company's 43rd Annual General Meeting on Wednesday, Reliance Industries Chairman and Managing Director Mukesh Ambani said Reliance Retail is India’s largest, most profitable retail business and is the fastest-growing retailer in the world.

"Reliance Retail is the only Indian retailer to feature in the Top 100 global retailers," Ambani said.

Within the organised retail, Reliance Retail will continue to be a partner of choice for marquee international brands, he said, adding, Reliance Retail has been at the forefront of bringing about the Organised Retail Revolution in India.

The company is also partnering with farmers, small and medium-scale manufacturers, merchants, vendors, start-ups and global companies.

Ambani said the following four things have given him immense satisfaction:

First, more than two-thirds of nearly 12,000 stores are operated in Tier II, Tier III and Tier IV towns.

Second, the deep-rooted bond with tens of thousands of farmers that has helped the company to source over 80 percent of fresh fruits and vegetable directly from farmers. “We sell more fruits and vegetables than any other organised retailer in the country,” Ambani said.

Third, the company will continue to provide large employment and development opportunities for lakhs of people across India.

Fourth, the growth model is based on partnership with small merchants and shopkeepers.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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