RIL's home team advantage

India's complicated e-commerce policy with restrictions on overseas investors may help keep out global retail and e-commerce players

The Reliance Industries (RIL) AGM focused on digital, retail and media (D+R+M). Here are some takeaways. Thanks to recent massive investments in Jio Platforms, RIL is debt-free. The cost of financing has dropped drastically. The equity base for Jio Platforms has apparently, not expanded and RIL will retain full control. Given the large war-chest and strategic partners including giants Google and Facebook, it’s well-placed for future growth.

Jio has also developed its own 5G solution. It targets growing telecom subscriber base from the current 380 to 880 million over three years — this implies it will grab a huge chunk of