Indian multinational conglomerate Reliance Industries Limited (RIL) is investing in building state-of-the-art supply chain infrastructure across India by linking all major sourcing and consumption locations.
“An automated, modular, reliable and scalable warehousing and logistics ecosystem will enable us to deliver products anywhere across the country in the shortest possible time,” announced Chairman of RIL, Mukesh Ambani during the 44th Annual General Meeting.
The chairman said that the company’s retail business is on a hyper-growth trajectory and it is in a position to be able to provide 10 lakh jobs in the near future.
“Even in these challenging times, I am personally proud to report to you that Reliance Retail has not only protected jobs, but also created over 65,000 new jobs. Reliance Retail currently employs over 2 lakh people making us one of the largest employers in the country. Over the next three years, we shall further create employment for over ten lakh people and enable the livelihoods for many more,” said Ambani.
In terms of infrastructural augmentation, RIL added 1,500 new stores, which is amongst the largest retail expansion undertaken by any retailer during this period, taking the store count to 12,711.
Ambani revealed how RIL’s apparel business sold nearly five lakh units per day and over 18 crore units during the year.
“This is equivalent to dressing the entire population of UK, Germany and Spain once,” he remarked.
Apart from investing in supply chain infrastructure, RIL will be focussing on other key initiatives as well.
It is looking at furthering investments in research, design and product development capabilities and also bolstering its sourcing ecosystem working closely with producers, MSMEs, service providers, local and international brand companies.
The conglomerate will focus on expanding its store footprint multi-fold this year with co-located delivery hubs over the next few years.
Furthermore, RIL will continue acquiring businesses to heighten offering and experience to customers, sharpen omni-channel capabilities, drive operating efficiencies and strengthen talent pool..
“Retail is on a hyper growth trajectory to grow at least 3x in the next 3-5 years,” he said.