Reliance AGM 2022: Mukesh Ambani introduces daughter Isha as leader of retail business
Addressing Reliance Industries’ Virtual Annual General Meeting (AGM) on Monday (August 29), Mukesh Ambani introduced his daughter Isha Ambani as the “leader” of the group’s retail business. This specific gesture came as a strong indication that the billionaire is slowly delegating key responsibilities in the group to the next generation.
Isha Ambani
Mukesh Ambani’s daughter
- Born: 23 October 1991 (age 30 years), Mumbai
- Height: 1.6 m
- Spouse: Anand Piramal (m. 2018)
- Education: Stanford Graduate School of Business (2018), Yale University (2014)
- Parents: Mukesh Ambani, Nita Ambani
- Siblings: Akash Ambani, Anant Ambani
That announcement follows Akash Ambani’s appointment as chairman of the telecom unit, Reliance Jio Infocomm, in June. Isha Ambani gave a presentation on placing online grocery orders using WhatsApp and making payments at the 45th Annual General Meeting of Reliance Industries after being introduced as the company’s leader. She also announced that Reliance Retail would start an FMCG (Fast Moving Consumer Goods) business.
In addition, Reliance Retail will start marketing goods produced by Indian artisans. Isha Ambani said, “As part of our commitment to India’s rich culture and heritage, we will soon begin marketing quality goods produced by tribals and other marginalized communities across India.” Apart from giving people a profitable opportunity for employment and entrepreneurship, it will also help in preserving the skills, expertise, and potential of Indian artisans, especially women.
Esha said, “By introducing several new items across staples, home, personal care, and general merchandise categories during the year, we increased the visibility of our brands. In addition, we launched our WhatsApp-Jiomart partnership.”
Reliance Retail has achieved a record turnover of INR 2 lakh crore and an EBITDA of INR 12,000 crore is among the Top-10 retailers in Asia. Reliance Retail and Reliance Jio are subsidiaries of the family’s oil-to-telecom conglomerate, of which the $217 billion Reliance Industries Limited is the centre. Reliance Industries’ chairman and managing director is Mukesh Ambani.
Meanwhile, Reliance Jio is set to launch high-speed 5G telecom services in several major cities including Delhi, Mumbai, Kolkata, and Chennai by Diwali this year. Reliance Jio Infocomm has secured spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz, and 26GHz bands in the recently concluded 5G auctions by the Department of Telecommunications, where the government received bids worth around INR 1.5 lakh crore.
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