Reliance Retail, the retail arm of oil-to-telecom conglomerate Reliance Industries, is set to foray into the fast moving consumer goods (FMCG) segment, the company’s director Isha Ambani announced at the 45th Annual General Meeting on August 29.
Read More:-How to save tax on sale of residential property? Don’t sell too early
“I am excited to announce that this year, we will launch our fast-moving consumer goods business. The objective of this business is to develop and deliver high quality, affordable products which solve every Indian’s daily needs,” said Ambani.
With this foray, Reliance Retail will be competing with the likes of FMCG behemoths like Hindustan Unilever, Nestle, Britannia etc.
Besides this, the company, informed Ambani, will soon start marketing quality goods produced by tribals and other marginalized communities across India.
Also Read: Jio 5G by Diwali: Fastest network to connect India’s every corner by end-2023: Mukesh Ambani
“This will not only provide these communities gainful opportunities for employment and entrepreneurship but also help preserve the incredibly rich talent, skill sets, and knowledge base of our traditional Indian artisans, especially women,” she added.
Read More:-India’s real estate sector to reach $1000 billion by 2030: Thriving and yielding consistent returns
Also Read: RIL’s 45th Annual General Meeting | Key Announcements
(This is a developing story. Please check back for more details)
Disclosure: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
