At Reliance Industries’ annual general meeting (AGM) towards the end of August, shareholders were told that Reliance Retail would double its business in three to four years.
Is that a tall target? It sure seems so.
Reliance Retail is already the country’s largest retailer. Its financial year 2023-24 (FY24) gross revenue stood at more than Rs 300,000 crore. Doubling that will be akin to adding another Reliance Retail to itself.
However, there is another way of looking at this target. The Indian retail market is among the fastest growing in the world, allowing a lot of elbow room