Reliance Industries chairman Mukesh Ambani on Monday announced that they created 320,000 jobs across sectors–becoming one of the largest employers in India. In his keynote address at the 45th Annual General Meeting of Reliance Industries, Ambani also said that they continue to be the largest taxpayers in India.
India’s largest employer
One of the largest employers, Reliance Industries (RIL) created 2.32 lakh (2,32,822) new jobs, taking its total workforce strength to 3,42,982 at the end of FY22, as per RIL’s annual report for 2021-22. Out of the total workforce, RIL employees 22,642, Reliance Retail 2,15,614 and Jio 83,347.
In 2021, Mukesh Ambani had emphasised on the importance of talent retention. He said, “Even in these challenging times, I am personally proud to report to you that Reliance Retail has not only protected jobs, but also created over 65,000 new jobs.”
56% increase in recruits at Reliance
Mukesh Ambani chairs and runs Reliance Industries. The company is into petrochemicals, oil and gas, telecom and retail. Retail business of Reliance Industries continued to expand offline, as well as online and created over 1,50,000 jobs through the year. There was a 56% increase in new recruits for RIL, and 132% for the retail arm as against the previous year. The strong hiring for the retail business came at the time amid the company’s several tie-ups with global brands, opening new outlets and plans to open many more in the next few months.
Plans for Akash, Isha & Anant
Billionaire Mukesh Ambani laid bare the succession plan at India’s most valuable company, identifying twins Akash and Isha for telecom and retail leadership, and youngest son Anant for the new energy unit. He, however, insisted he isn’t retiring yet and will “continue to provide hands-on leadership as before”.
All set to launch a fast-moving consumer goods business
Reliance Retail, is all set to venture out into the fast-moving consumer goods business after making growth in the retail business. “The objective of this business is to develop and deliver high quality, affordable products which solve every Indian’s daily needs. 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,” said Isha Ambani.
60% revenues from refining
Almost 60% of Reliance’s revenue comes from oil-refining and petrochemicals, though the conglomerate has been reducing its dependence on oil-refining by diversifying into retail, telecommunications and technology.
Ambani is pivoting Reliance into green energy. The company will be investing $80 billion over the next 10-15 years on renewable energy and building a new complex next to its refinery. RIL will scale up investments in the green energy initiative that it recently announced to play a leading role in the world’s transition to clean energy.
₹75,000 crore investment in solar sector
In June last year, Reliance proposed to invest ₹75,000 crore over three years to set up four giga-factories across 5,000 acres in Jamnagar, produce solar panels, energy storage systems, electrolyzers and fuel cells, and forge global partnerships to help the company achieve net carbon zero status by 2035.
Also read: https://www.vibesofindia.com/reliance-industries-marks-revenue-of-100-bn-in-fy2022/
