scorecardresearchFMCG Wars: Reliance prepares for larger battle with Adani group; plans ₹2.75 lakh crore investment

FMCG Wars: Reliance prepares for larger battle with Adani group; plans 2.75 lakh crore investment

Updated: 29 Aug 2022, 06:10 PM IST
TL;DR.
Reliance Retail, India's largest retailer with 15,196 stores selling groceries to high-end fashion and lifestyle items, will take on a rival group headed by Gautam Adani, who has in recent months raced past Mukesh Ambani to become the nation's richest man.
Mukesh Ambani, chairman and managing director of the Reliance Industries Ltd., speaks via live stream during the annual general meeting in Mumbai, India, on Monday, Aug. 29, 2022. Reliance will invest 2 trillion rupees ($25 billion) to roll out its 5G services in October across the largest Indian cities, its billionaire-chairman�Mukesh Ambani�said as he continues to expand and diversify the $221 billion empire. Photographer: Dhiraj Singh/Bloomberg

Mukesh Ambani, chairman and managing director of the Reliance Industries Ltd., speaks via live stream during the annual general meeting in Mumbai, India, on Monday, Aug. 29, 2022. Reliance will invest 2 trillion rupees ($25 billion) to roll out its 5G services in October across the largest Indian cities, its billionaire-chairman�Mukesh Ambani�said as he continues to expand and diversify the $221 billion empire. Photographer: Dhiraj Singh/Bloomberg