Reliance Retail opens 700 store in 2 yrs

Its food and grocery chain Reliance Fresh has 600 stores across the country.

"We estimate that our retail business will generate in excess of half a million jobs directly over the next five years, and many times that number indirectly,'' said Mukesh Ambani, chairman of RIL, at the annual general meeting (AGM) today.

Based on experience over the last twelve months, Reliance has organised its retail initiative to focus on product-market formats, Ambani said. "It has brought about cleaner and sharper business focus, positioned each format clearly in the minds of consumers and enabled partnerships with global leaders in each domain,'' he said.