Recently, in an interview with Newsweek, Mukesh Ambani, Chairman, Reliance Industries, talked about his future plan on converging India’s agriculture and retail sectors. The company will buy agricultural products from farmers around the country and sell those products in big retail shops. The company will also export the products to retail stores of different countries as well.
With this view in mind, Reliance is planning to build up its own retail subsidiary. The company will invest 6 billion dollars in this project. In addition, for efficient collection and transportation of the agricultural products the company will also build 1600 supply centers and 85 offices around the country.
Ever since its inception, Reliance has huge contributions in India’s economy. This kind of project requires huge capital and expertise and Reliance has both of them. In my point of view, this initiative will bring a big change in the scenario. It will yield many positive results for Indian Economy. First, farmers will get fair price for their products; there will be no middle man. Second, the consumers around the country would be able to buy vegetables and other items at a reasonable price. Finally, it will create around one million jobs around the country making Reliance “The largest Private- Sector employer” India.
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Posted by: Retail Management | August 25, 2009 3:01 AM | Permalink to Comment