 "mukesh ambani, reliance agm")
Reliance Industries Ltd. plans to take on the likes of Amazon.com Inc. and Walmart Inc. in India’s retail industry by creating a platform that combines online and conventional shopping.
Billionaire Chairman Mukesh Ambani outlined the plan Thursday at the company’s annual shareholders’ meeting in Mumbai saying Reliance saw its “biggest growth opportunity in creating a hybrid, online-to-offline new commerce platform.” The effort will involve the group’s Reliance Retail Ltd. and Reliance Jio Infocomm Ltd. businesses, he said. The latter will also introduce a fiber-based broadband service August 15.
Global retail powerhouses like Amazon and Walmart have been investing in India’s
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