Reliance AGM highlights 📶🛒đźŹ
Reliance- the multinational conglomerate company with diverse businesses including Energy, petrochemicals, retail, telecommunications, textiles and mass media has come up with its 45th AGM on 28th August.
(AGM is an Annual General meeting a mandatory annual assembly of the company’s directors, executives and interested shareholders conducted to present an annual report containing information about company’s performance and strategy.)
Key highlights from the 45th AGM:
âś…5G:
o Announced a 2-lakh crore investment plan for 5G deployment across India.
o 5G services to be launched by Diwali in metro cities and across India by December 2023.
o Currently working with google on an ultra-affordable 5G smartphone.4
âś…Retail:
o Reliance to launch its FMCG business this year.
o Jio is on track to partner with 1 crore merchants this year.
o Tie up between WhatsApp and Jiomart to have a complete shopping experience from browsing catalogues to making payments.
âś…Oil to Chemical:
o Plans to invest 75,000 crores in O2C value chains.
o New investments are made in setting up PTA plants and expanding polyester capacity.
âś…Leadership transition
o Mukesh Ambani has laid out a succession plan, Akash Ambani to head Telecommunications (Jio), Isha Ambani to head Reliance retail and youngest son Anant Ambani to join the New Energy business.
Where you do see Reliance Industries moving forward?
