The country’s biggest oil firm making a huge and successful foray into the telecom space four years ago was truly a transformative move in the life of the 54-year-old company that started as a polyester trader and later got into petroleum and refining. Reliance Industries (RIL) got into retail in 2006, and these decade-or-so old consumer and technology-centric businesses now account for over a third of its Rs 6.59 trillion revenues. What’s more, the Mukesh Ambani-led conglomerate intends to mesh all consumer businesses into an integrated digital play and take the world by the 5G-storm by announcing an indigenous, homegrown solution for the technology, which is just being rolled out across the world. The sight of world leaders in internet search, e-commerce, social media and much else beating a path to Reliance’s door for a pie of what, not so long ago, used to be just another oil firm is interesting.
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First Published: Mon, July 27 2020. 23:16 IST