Reliance Retail to grow at least 3 times in 3-5 years, says Mukesh Ambani at AGM

New Delhi: Reliance Retail is growing by leaps and bounds and is set to grow 3 times in next 3-5 years, Reliance Industries Ltd (RIL) Chairman Mukesh Ambani said on Thursday. He also hinted at group’s plans to position it among top 10 retailers in the world.

“Reliance Retail continues to be among the fastest growing retailers in the world. We are committed to grow our business so that we are among the top 10 retailers globally,” he said while addressing RIL’s 44th annual general meeting (AGM) held virtually.

Reliance Retail, moving on a high growth trajectory has consolidated its position in segments like consumer electronics, selling 4.5 crore units of electronics last year which translates to over 1.2 lakh units per day.

As India’s largest grocery retailer, Reliance Retail sold over a billion units of groceries or about 30 lakh units per day.

Ambani told press, more than 3 lakh merchant or shop keeper partners across 150 cities were enabled and empowered to transform their businesses both physically and digitally.

Reliance Retail has not only protected jobs but also created over 65,000 new jobs,” said Ambani.

Reliance Retail is currently among one of the largest private employers of the country, with 2 lakh people. Over next 3 years, aims to further create employment for over 10 lakh people and enable the livelihoods for more.

Ambani said Reliance Retail will continue acquiring businesses to heighten its offering and experience to customer.