By 1988, Mukesh had earned a reputation for building new plants and he built 60 new, world class manufacturing plants that included the diversification from textiles into petroleum refining and going up-stream into oil and gas exploration and production. Under his leadership, Reliance created a new subsidiary, Reliance Petroleum Ltd. (Reliance Petroleum), in 1988. In 1991, its first petrochemical plant was commissioned at Hazira, Gujarat. The same year, the company’s name was changed to Reliance Industries Ltd (RIL). ..

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RIL’S EXPANSION UNDER MUKESH’S LEADERSHIP

In 2006, when Mukesh forayed into the retail segment, the Indian retail market was dominated by Kishore Biyani’s Future group . Mukesh announced that RIL would invest Rs. 250 billion over the next few years in its organized retail business initiative. For this, a new 100% subsidiary was formed under RIL and it was named RRL. The plan was to set up retail outlets across 1,500 India cities and towns. .

FORAY INTO B2B AND B2C DIGITAL MARKETPLACE

By the end of 2014, RRL had forayed into e-commerce services with its first online grocery store, “Reliance Fresh Direct”. In June 2015, RRL announced launching of a B2B digital marketplace to enable small retailers to transact online. Mukesh said, “We are rolling out the Reliance Digital Marketplace platform to enable millions of small retailers and provide them with an enhanced supplier base and product range, better supply chain productivity, digital payment capability, connectivity to customers and credit capability.” Mukesh also announced that RRL aimed to launch e-commerce portals by the end of 2015 for its fashion and lifestyle formats. ..

MUKESH STEERS RELIANCE TOWARD A TECHNOLOGY PLATFORM COMPANY

By January 2019, RIL owned 4,000 Jio outlets. The outlets were expected to increase to 10,000 by 2025. While announcing its new commerce portal, Mukesh asserted, “In this new world, data is the new oil. Data is the new wealth. India’s data must be controlled and owned by Indian people and not by corporates, especially global corporations. For India to succeed in this data-driven revolution, we will have to migrate the control and ownership of Indian data back to India, in other words, Indian wealth back to every Indian." ...

EXHIBITS

Exhibit I:The Businesses of Mukesh Ambani and Anil Ambani, as of 2019