Reliance Retail: Reliance to invest six billion dollars in retail sector in India

Reliance to invest six billion dollars in retail sector in India

Reliance Industries has said that they are planning to invest as much as six billion dollars in the retail industry in the Indian market.

The company would hire thousands of new workers are part of this expansion plan as they aim to become the Wal-Mart of India.

Retailing is becoming a hot market to be in, in the Indian market as more and more players are entering with big plans.

The company plans to set up a 100-percent-owned subsidiary, Reliance Retail to achieve their goal of becoming the giants in the retailing industry in India.

Reliance chairman Mukesh Ambani said in a statement: “Reliance Retail will have a pan-India footprint covering 1,500 cities and towns.”