Tag Archive : Reliance

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Natarajan Chandrasekaran wearing a suit and tie


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From Flipkart versus Amazon to Uber versus Ola, and even Swiggy versus Zomato, India’s internet has so far been a battleground for young local startups and global tech giants—either fighting each other or among themselves.

But suddenly, legacy Indian businesses seem to have woken up to the online opportunity—and how.

The over 150-year-old Tata Group is reportedly developing a “super app” that would bring all its offerings—that include food and grocery, fashion and lifestyle, electronics, insurance, financial services, education, healthcare, and utilities—together on a single platform. The group is hoping to launch the app by January 2021, Tata Sons chairman Natarajan Chandrasekaran told Financial Times in August.

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Meanwhile, Reliance Industries, the nearly 50-year-old oil-to-telecom major, has this year made massive investments in the internet space, besides bringing on investors such as Facebook and Google. The company, owned by India’s richest man Mukesh Ambani, is

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Mukesh Ambani wearing a suit and tie


© Provided by Quartz


After telecom and e-commerce, India’s richest man has now put his weight behind artificial intelligence (AI).

Mukesh Ambani, chairman of India’s most valued private company Reliance Industries, believes that AI is “indispensable” to India for achieving its “digital destiny.”

“The time is ripe, and the tools are ready to make India a world leader in artificial intelligence, and to make AI work for all Indians,” Ambani said at the Responsible Artificial Intelligence for Social Empowerment summit (RAISE 2020) yesterday (Oct. 5).

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The 63-year-old second-generation businessman, who has started dabbling in all things internet over the last few years, said AI could help India achieve its goals across economic growth, agriculture modernisation, affordable healthcare, and world-class education.

Ambani’s push for AI comes at a time when his digital business vertical, Jio Platforms, has been emerging as one of the youngest and fastest-growing tech firms in

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(Reuters) – Indian oil-to-telecoms conglomerate Reliance Industries Ltd said on Saturday Singapore sovereign wealth fund GIC and global private equity firm TPG Capital invested a combined 73.50 billion rupees (about $1 billion) in its retail unit.

Reliance, controlled by Asia’s richest man Mukesh Ambani, has secured more than $2 billion in investments from global investors, including KKR & Co, Abu Dhabi state fund Mubadala and Silver Lake Partners, in Reliance Retail Ventures Ltd over the past few months.

GIC will invest 55.12 billion rupees for a 1.22% stake, while TPG Capital Management will invest 18.38 billion rupees to own a 0.41% equity stake in the retail arm, the company said.

The investments in Reliance Retail values the company at a pre-money equity value of 4.285 trillion rupees ($58.47 billion), Reliance said.

This is TPG Capital’s second investment in Reliance. In June, the firm invested $598 million in Reliance’s digital unit

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