FOR RELIANCE Industries Ltd, which closed FY23 with consolidated revenues of `9,74,864 crore, the decade gone by was about new ventures that gave the B2B conglomerate a healthy appetite for consumer-facing businesses.
In the year to March 31, 2023, Reliance’s bed rock, the refining and chemicals operations (which it calls oil to chemicals or O2C), fetched over 60 per cent of its revenue, while the rest primarily came from retail and digital. Looking into the future, Reliance Chairman & MD Mukesh Ambani told shareholders at its annual general meeting on August 28 that his three children—twins Isha and Akash (31) and Anant (28)—will be inducted into the board of Reliance, which retains its No. 1 spot on the BT500 list this year.
This clear succession planning lays the groundwork for the next decade, at least when each of its diverse businesses has to be reimagined to ensure revenue growth on a larger base and make them more profitable.
DIGITAL, DATA AND MORE
When Ambani rolled out his Jio telecom business in 2016, it brought down tariffs sharply, launched a new technology, and became the largest player with over 440 million subscribers. He had launched telecom under the Reliance Infocomm banner in 2002, but it was given to his brother Anil in the 2005 split of the Reliance empire.
Jio disrupted the industry and continues to grow on a large base. Those familiar with the con
Esta historia es de la edición December 10, 2023 de Business Today India.
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"OFFER MORE SOPS FOR THE NEW TAX REGIME”
Dinesh Kanabar, CEO of Dhruva Advisors, on the tax-related measures expected in the Budget, reforms, and more
IN SEARCH OF A BOOSTER SHOT
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HEALTH BOOST
THE HEALTHCARE SECTOR IS EXPECTED TO RECEIVE A SHOT IN THE ARM IN BUDGET 2025-26, WITH A FOCUS ON PRIMARY HEALTHCARE, DIGITAL HEALTH, AND BOOSTING PHARMACEUTICAL MANUFACTURING AND RESEARCH. BUT CHALLENGES LIKE THE SHORTAGE OF HEALTHCARE PROFESSIONALS REMAIN
"Indian aviation to see double-digit growth for the next 30 years"
Vinay Dube, Founder & CEO of Akasa Air, on the country's aviation sector, why the airline was set up, and more
TIME TO BE SMART
This year could be a good time to take home some profits, reduce risk, and shift to large-cap investments
CLOTHES MAKETH A MAN
THE MEN’S LUXURY MARKET IN INDIA, ONCE A NICHE SEGMENT, IS WITNESSING AN EXTRAORDINARY RISE AND IS THRIVING, THANKS TO SOCIAL MEDIA AND RISING DISPOSABLE INCOMES
Front-running Redux
Ketan Parekh has again been accused by Sebi. This time the allegations are of front-running, an unethical practice in financial markets
Triumph of Engineering
The Udhampur-Srinagar-Baramulla Railway Line in J&K is set to expedite trade and tourism
MAKING A MARK
IN A LANDSCAPE DOMINATED BY THE BIG FOUR ACCOUNTING FIRMS, DHRUVA ADVISORS HAS STRUCK IT BIG ON THE BACK OF ITS TAX AND REGULATORY ADVISORY SERVICES, ASSISTING SOME OF THE MARQUEE DEALS OF INDIA INC.
TIME FOR A TAX BREAK?
INDIVIDUAL TAXPAYERS LOOK FORWARD TO THE BUDGET EVERY YEAR HOPING FOR A BIG TAX BREAK. IT HAS ELUDED THEM FOR YEARS, BUT WITH HIGH INFLATION, MODERATING URBAN CONSUMPTION, AND ROBUST TAX COLLECTIONS, WILL THE MIDDLE CLASS GET A TAX BREAK IN FEBRUARY?
