Retail business to be fastest growing segment for RIL, says Mukesh Ambani

The retail business will be the fastest growing segment for Reliance Industries in the days to come, chairman Mukesh Ambani said on Monday. Reliance has invested $10 billion for the expansion of the retail business in the past two years.

Addressing shareholders in the company’s 46th annual general meeting held virtually, Ambani said as “India grows from a $2,500 per-capita economy to a $10,000 per-capita economy, Reliance Retail will be our fastest-growing business in revenues and Ebitda.” Ebitda is earnings before interest, taxes, depreciation and amortisation, or the operating profit.