The development comes months after the board of directors of Reliance Industries approved the appointment of Isha, Akash and Anant as non-executive directors in August this year
RIL has boasted its oil business as the crown jewel, but the financial figures of its data operations, led by the Jio brand, are symbolic of the changing dynamics of India's bellwether company.
The aim is to add a million in headcount in three years, primarily in the retail arm, as the company transforms itself into an enterprise that now includes two mega consumer and technology businesses.
The oil-to-telecom behemoth has created a strong balance sheet that supports growth plans for three hyper-growth engines—Jio, Retail, and O2C. And as part of CSR, it’s also in the healthcare space.
The oil-to-telecom conglomerate is trying its best to deal with the second wave of Covid-19-induced disruptions in its retail operations. But it will be difficult for Reliance Retail to escape unhurt.
The Mukesh Ambani-led cash-rich giant is all set to carve out its traditional oil-to-chemicals business into an independent subsidiary, and create a holding structure by itself.