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We will expand JioMart to cover fashion: Mukesh Ambani

Published: 2020-07-16

JioMart, the new commerce initiative of Reliance Industries Limited (RIL) will be expanded in the days ahead to cover fashion, RIL's chairman and managing director Mukesh Ambani has said. RIL, the first Indian company to exceed market capitalisation of $150 billion, will become one of the world's leading New Energy and New Materials company by 2035.

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"In addition to grocery, we will expand JioMart to cover electronics, fashion, pharmaceutical and healthcare in the days ahead. In the coming years, we will cover many more cities, serve many more customers across India, and expand to many more categories," Ambani said today at the first virtual, 43rd Annual General Meeting (Post – IPO) of the company.



Speaking about Reliance's long-term vision, Ambani said the company's new growth opportunity is transforming its energy business to tackle climate change—one of the biggest challenges before India and the world. "On successful implementation of this strategy, we target to become net carbon-zero by 2035. We have a 15-year vision to build Reliance as one of the world's leading New Energy and New Materials company," Ambani said.



"It will be a platform company which will execute our vision in a worldwide collaborative model. This model envisages a large coalition of global financial investors, reputed technology partners, and start-ups working on futuristic solutions. The New Energy business based on the principle of Carbon Recycle and Circular Economy is a multi-trillion opportunity for India and the world," he added.



At ₹202,830 crore, RIL continues to be India's largest exporter accounting for 9.1 per cent of the country's total merchandise exports across 109 countries. The company is also India's highest payer of customs and excise duty in the private sector with payments of over ₹21,660 crore.



Source:Fibre2Fashion News Desk (RKS)