Energy to retail: Reliance is India’s reply to Exxon, AT&T, Amazon combined

Billionaire Mukesh Ambani’s Reliance Industries is India’s answer to US giants Exxon, AT&T and Amazon – all rolled into one, Bernstein Research said on Tuesday.

“Reliance has disrupted the energy and telecoms industry in India and is on the cusp of doing the same to retail, fintech, and media,” it said in a report adding the company has an enviable track record of innovation and execution.

For the oil-to-telecom conglomerate, energy remains core business and is expected to further expand as India is forecast to be the fastest-growing market for fuel and chemical products over the next decade, it said adding the company’s partnership with BP of the UK and Saudi Aramco will support this.