Reliance to launch FMCG business this year

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Reliance Industries Ltd. (RILretail )’s arm’s director Isha Ambani made  announcement that the company will start a fast-moving consumer goods (FMCG) sector during her speech at the 45th Annual General Meeting (AGM) of RIL.

“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 products that solve every Indian’s daily needs with high quality products at affordable pricing,” Isha Ambani said.

“As part of our commitment to India’s rich culture and heritage, we will soon start marketing quality goods produced by tribals and other marginalised communities across India,” she added.

Reliance Retail opened over 2,500 stores in the year to take its store count to over 15,000, spanning an operational area of 42 million sq-ft. “We built an extensive supply chain network with modular design and best-in-class automation. We generated employment for more than 1,50,000 during the year, taking our employee base to over 3,60,000,” she added.

Reliance Retail is currently one of the Top-10 Retailers in Asia after setting records for turnover ($2 lakh crore) and EBITDA ($12,000 crore).