Posts Tagged ‘Reliance Retail’

RIL to Acquire 5% Stake in Eros International

February 23, 2018

With the ambition to boost the content strategy of Reliance Jio, the Mukesh Ambani-led Reliance Industries Limited (RIL) is set to buy a stake of 5 percent in the New York Stock Exchange (NYSE)-listed Eros International, Eros International Media (Eros India’s) holding company.

Deal between RIL and Eros

As per the deal, RIL’s overseas subsidiary will buy the shares of Eros for USD 15 per piece at a premium of 18 percent to the last closing price at the NYSE. The two renowned conglomerates stated that the transaction is subject to regulatory, customary, and other approvals. Eros India and RIL will have a joint collaboration to produce and consolidate content across India. Both the companies will have an equal investment of up to INR 1,000 crore in total to acquire and produce original digital series and Indian films across various languages.

Transition of a leader

After having worked for over 17 years at Eros, Jyoti Deshpande, the Group CEO of Eros India is set to resign from her duties and go ahead to lead RIL’s media and entertainment business in the capacity of President at the Chairman’s Office. Deshpande will begin her journey at RIL from the month of April 2018. However, she will be retained on the board of directors at Eros as a non-executive director.

At RIL, Deshpande’s core responsibility will be to head the media and entertainment endeavors in order to build and grow businesses in an organic manner around the content verticals, which include sports, music, films, broadcasting, animation, digital, and gaming. In her new responsibility, Deshpande will play a significant part in integration and consolidation of Balaji Telefilms, Viacom 18, and RIL’s other existing media investments. Speaking about this opportunity, Deshpande stated that this new role would help her push boundaries, build a young and energetic world-class leadership team, set new standards of excellence, and lastly adopt a collaborative approach and plan and execute this aspiration in complete RIL tradition.

Views of key people

Experts are of the opinion that this deal will be a win-win situation for both RIL as well as Eros. This is because the deal gives RIL more opportunities related to content, while it gives Eros a new platform to help distribute the content. Business tycoon Mukesh Ambani, the Chairman and Managing Director (MD) of RIL expressed his delightfulness about joining hands with Eros. According to Mukesh Ambani, this collaboration would bring further alliances into future projects. He also expressed happiness by welcoming Deshpande into the RIL family stating that this would not only give wings to the company’s plans but also play a predominant role in transforming the sector.

Kishore Lulla, the Executive Chairman of Eros expressed his gladness about the company collaborating with RIL in several synergies across content, technology, and digital (Eros Now). This will give a strong breakthrough to the entertainment journey of Eros. Lulla further added that Eros and RIL together could make a meaningful difference by collaborating and making new strides in the content and digital forefronts.

Summary

RIL is set to buy 5 percent stake in Eros International to boost Reliance Jio’s content strategy.

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Mukesh Ambani Discusses State Development Strategies with Andhra Pradesh CM

February 16, 2018

Business tycoon Mukesh Ambani, the Chairman of Reliance Industries Limited (RIL), visited N Chandrababu Naidu, the Chief Minister of Andhra Pradesh on Tuesday, February 13. They had a formal meeting at the Secretariat, Amaravati to discuss how RIL would contribute towards further growth and advancement of Andhra Pradesh.

RIL’s proposal for setting up submarine cable landing station

During the two-hour meeting between Mr. Ambani and Mr. Naidu, the former, on behalf of RIL, proposed to set up an international submarine cable landing station (CLS) in the coastal city of Visakhapatnam. The proposed CLS is set to link the east coast to Myanmar, Andaman and Nicobar Islands, and South-East Asia. However, as per a reliable source, no other details have been shared. The source further stated that to add to RIL’s delight, the Andhra Pradesh CM has approved and supported the proposal of setting up a CLS.

Proposal for setting up information technology and telecom infrastructure 

With an ambition to transform Andhra Pradesh into a data superpower state, RIL has proposed to build a modern information technology and telecom infrastructure on a 10-acre land.

Setting up of an electronic manufacturing cluster near Tirupati 

It is a known fact that Tirupati has been a major mobile manufacturing hub with various key domestic players such as Karbonn, Lava, Celkon, and Micromax having their facilities in this town. Realizing the potential Tirupati has, RIL has the vision of creating an end-to-end ecosystem in the field of electronics. RIL, under the brand name of Reliance Jio, will manufacture various devices like televisions, set-up boxes, batteries, and mobile phones, under the RIL electronics facility. This facility would be located in the Chittoor district near Tirupati on a 150-acre site.

Promotion of education and employment opportunities 

With the thought of generating employment opportunities right after completion of education, RIL has offered to promote a chunk of diploma colleges in the locality. RIL is also planning to develop a workmen-housing corridor in Tirupati Growth Corridor’s vicinity to provide housing and shelter for working professionals.

Setting up of a solar power plant 

RIL is set to build a 150MW solar power plant and data center on its site close to Samalkot in the East Godavari district.

Development of Amaravati

In an extended support to develop the capital city of Amaravati, the RIL chief has put down several points, which need to be implemented. He was of the view that apart from public capital, Amaravati also requires adequate private capital in order to attract international investments and attention. This, in turn, would help contribute towards the growth and development of the capital city to a great extent. 

Explanations by the Andhra Pradesh Chief Minister 

Apart from the multiple aforementioned proposals by RIL, there were many points of explanation made by the Andhra Pradesh CM too. He explained to Mr. Ambani about the Swiss challenge, construction, capital designs, and various other accomplishments in the state. Mr. Naidu emphasized on the importance of ‘fibergrid’ and ‘Real Time Governance’ center in the Chief Minister’s Office (CMO) and its interconnectivity from districts to villages. Mukesh Ambani truly appreciated the CM’s efforts towards the state’s welfare.

Summary

Mukesh Ambani visits Andhra Pradesh Chief Minister to discuss RIL’s contribution towards the state.

Reliance Retail to Expand its Electronic Arm under Reconnect

January 5, 2018

The retail arm of Mukesh Ambani owned Reliance Industries Limited (RIL), Reliance Retail is extending its arm into the electronics segment. The new devices will be launched under the Reconnect brand.

Reliance Retail’s Reconnect

Reliance Retail has witnessed success for products like television sets, blenders, mixers, and computer mouse. Post this, the company is now planning to launch devices like tablets, dongles, cameras, and electronic wearables under the same Reconnect brand. The company will sell these products through its Reliance Digital and online stores.

As per a report, the tablets are in pilot phase. The employees of the company are testing its usability.

Industry chamber, Assocham and NEC Technologies released a combined study in June 2017. This study revealed that the electronics market in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 41 percent for three years. According to the report, the market will cross USD 400 billion by 2020.

Reliance Retail’s business-to-business expansion

In December 2017, the company announced that it is looking forward to expanding its business-to-business foray in the retail market by the distribution of white goods, Fast Moving Consumer Goods (FMCG), and apparel directly to grocery stores and neighborhood. With this, RIL is aiming to capture a larger share of the market.

Reliance Retail has already informed the vendors that it will begin the trail distribution of apparel from early 2018. By April, it will expand this into white goods and FMCG. According to an executive, the company will begin distribution with its private brands and eventually expand into mainstream brands.

The company will utilize the Jio network for facilitating the expansion. Local shops and grocery stores will receive payments through the platform of JioMoney. The company will also offer extra help to small stores in the form of financial support, GST solutions, merchandising operations, and managing an efficient supply chain. An executive informed that Reliance Retail will initiate the distribution business in 10,000 towns and cities where Jio has already marked its presence.

RIL’s mobile phones

RIL sells smartphones under its LYF brand and the JioPhone under its Jio brand. It began the sale of LYF phones in January 2017. These phones are available on Reliance Digital outlets, Digital Xpress stores, and its official website—mylyf.com

The LYF phones have four variants—Earth, Water, Flame, and Wind. It is expected that the company may introduce more variants in the coming time.

In August 2017, the Mukesh Ambani led company introduced JioPhone, the only 4G feature phone in India. This phone is available at a refunded amount of INR 1,500. The company will refund this money when the user returns this phone after three years. This feature phone has a large screen. It lets users enjoy 4G data and make 4G VoLTE calls. It also allows access to a number of Jio apps.

The monthly plan for the JioPhone is priced at INR 153. It offers free voice calls and 500MB 4G data per day. A weekly plan of INR 54 and a two-day plan of INR 24 are also available.

Summary

Reliance Retail will expand into electronics segment by selling cameras, dongles, tablets, and wearables under its Reconnect brand.

JioPhone to be the First Feature Phone to Get Google Assistant

December 8, 2017

The JioPhone by Mukesh Ambani owned Reliance Jio, the telecom subsidiary of Reliance Industries Limited (RIL), is all set to become the first feature phone in the world to have Google Assistant.

Google Assistant rollout

In Google for India press conference, Google announced the official rollout of Google Assistant for the JioPhone. While Google Assistant has been customized to suit the JioPhone’s small screen, users will still be able to use it the same way it is used on high-end smartphones. At present, Google Assistant will support English and Hindi. However, there are high expectations that the technology giant will soon release support for other regional languages.

What can JioPhone users do with Google Assistant

With Google Assistant, users may search for quick and relevant information. The search queries can be given in a text or conversation-based manner. Google Assistant will let users make calls, send text messages, play videos and music, as well as access other apps on the phone. This, along with HelloJio, the in-house JioPhone assistant, makes the phone convenient to use. HelloJio also allows users to make calls, send text messages, access apps, and search via voice.

How to get Google Assistant

While it has not yet been mentioned how and when the Google Assistant software will reach JioPhone users, it is expected to be added via an over-the-air (OTA) update. Users may expect this software update in the near future.

About JioPhone

Mukesh Ambani led Reliance Jio’s JioPhone first made headlines when it was released as India’s first 4G feature phone. The phone is said to be almost at par with low-end smartphones, after being released as ‘India ka Smartphone.’

The phone has a QVGA color 2.4-inch screen and a T9 keypad. The phone’s home button acts as a shortcut for starting HelloJio. Encased in an all-plastic body, the phone delivers a power packed performance with both its processor variants. The first is a Snapdragon 205 SoC manufactured by Qualcomm while the second variant is by Spreadtrum.

JioPhone’s operating system is known as KaiOS, a custom fork of the Firefox Operating System. It supports NFC for secure transactions as well as 22 Indian languages for ease of use. The JioPhone lets users surf the Internet and make video calls.

Other features of the phone include 0.3MP and 2MP front and rear cameras, FM radio, 2,000mAh battery with a standby time of 15 days, and access to Jio apps. Besides, the phone also comes with an SD card slot (up to 128GB) for users who need more memory.

JioPhone comes at a refundable deposit of INR 1,500 when returned after 36 months. Customers may claim early refund as follows:

  • If the customer returns the JioPhone after 12 months and before 24 months of purchase, then he/she will receive a refund of INR 500.
  • If the customer returns the JioPhone within 24 to 36 months of purchase, then he/she will receive the refund of INR 1,000.

Summary

The JioPhone is soon to be the first feature phone in the world to get Google Assistant.

Jio Prime Members Get a New Triple Cashback Offer

November 10, 2017

Jio has brought new cashback offers and discounts for its prepaid customers.

Jio cashback offers

Mukesh Ambani owned Reliance Jio unveiled some new cashback offers recently. On a recharge of INR 399 users will get a cashback which will include eight vouchers of INR 50 and this amount will be credited to the MyJio digital wallet of the user. Users can use these INR 50 vouchers to do any subsequent recharge or data top-ups.

Jio subscribers are also going to get vouchers worth INR 300 that will be credited to AmazonPay, FreeCharge, AxisPay, Mobikwik, PhonePe, and Paytm, as these are Jio’s partner mobile wallets.

This is not all; subscribers will also get online shopping vouchers worth INR 1,899 and also discounts on flight tickets on specific portals. These offers will start from November 10th and will be valid until November 25th.

Words of the Director General of COAI on the Jio offers

Rajan Mathews, the Director General of the Cellular Operators Association of India (COAI) said that the offer is limited to a class of people in Jio’s customer base. That is the reason it does not violate any Telecom Regulatory Authority of India (TRAI) regulation. He also predicted that it is expected that more of these plans are going to be introduced by telecommunication companies that want to retain customers. He also said that other competitors have to match Jio and the competition just keeps on getting better.

Talking about the new offers by Jio, he said that these are designed so that it protects the July-September average revenue per user (ARPU). To maintain the ARPU the company has to retain the Jio Prime members as well as make sure that cash is constantly coming in. According to Sanjiv Bhasin, the Executive VP at IIFL, these offers are made to achieve that goal.

About Jio and its prepaid plans

Mukesh Ambani led Reliance Jio has been known for its affordable data plans and offers. Until September end, the telecom company had almost 138.6 million users. It had a net loss of INR 270.59 crore and its revenue was INR 6,147 crore for the quarter that ended in September.

Some of the prepaid plans by Jio:

  • INR 19 plan

The plan has a one-day validity and offers 0.15GB data and 20 SMS.

  • INR 52 plan

This plan has 7 days validity and offers 70 SMS. It offers unlimited data but has a daily limit of 0.15GB. This means that the Internet speed will slow down to 64Kbps if the user exhaust the daily limit.

  • INR 98 plan

The INR 98 plan has a validity of 14 days. It offers unlimited data with a daily limit of 0.15GB and also offers 140 SMS.

  • INR 149 plan

This plan has a validity of 28 days and offers unlimited data with a daily limit of 0.15GB, which means the Internet speed will go down to 64Kbps once the user exhausts the daily limit. It also offers 300 SMS.

Summary

Reliance Jio to offer cashbacks and discounts to its Jio prime customers.

Mukesh Ambani Becomes Asia’s Richest Man

November 3, 2017

Mukesh Ambani became Asia’s richest man by overtaking Hui Ka Yan, a Chinese businessman.

Mukesh Ambani on the Forbes Real-Time Billionaires’ list

The Chairman of Reliance Industries Limited (RIL), Mukesh Ambani stands at the 14th rank of the global Forbes Real-Time billionaires’ list. The list of Forbes is based on the value of stock holdings and assets of an individual on a real-time basis.

According to the list, the wealth of Ambani rose from USD 223 million to USD 41.8 billion. On the other hand, the wealth of the Chairman of China Evergrande Group, Hui Ka Yan has gone down by USD 586 million to USD 41.2 billion.

Other businessmen on the list

The Forbes Real-Time Billionaires’ list also had some other businessmen like the CEO and Founder of Amazon, Jeff Bezos who topped the list with the total net worth of USD 93.3 billion. Bill Gates ranked 2nd on the list with a net worth of USD 89.5 billion. Mark Zuckerberg, Founder of Facebook, stood at the 5th position with a fortune of USD 75.8 billion.

Reliance Industries Limited’s earnings

Mukesh Ambani’s RIL has posted a 12.5 percent increase in its consolidated net profit of INR 8,109 crore in the quarter of September FY18. The revenue of RIL has increased by 23.9 percent to INR 101,169 crore i.e. USD 15.5 billion. While in the previous year, it was INR 81,651 crore.

RIL sparked a price war in 2016 after launching its telecom service, Jio. It has a record of 130 million customers. Jio offered free domestic voice calls and data at cheap prices and also launched a new 4G phone that is effectively free.

Mukesh Ambani ranks as the richest Indian

Last year the Chairman of RIL ranked as the richest Indian for the 10th time in a row on the Forbes list with a total worth USD 38 billion i.e. INR 2.5 lakh crore. His younger brother Anil Ambani dropped down to the 45th spot with a net worth USD 3.15 billion, whereas in 2016 he ranked at the 32nd spot.

Ambani’s comment on the Q2 earnings

Commenting on the Q2 earnings, RIL’s Chairman Mukesh Ambani said that RIL has reported a strong and steady performance. He is pleased to share that this also includes Reliance Jio’s financial performance that had a positive EBIT contribution of commercial operations in its first quarter.

While Jio, the telecom arm of RIL has reported a loss of INR 270.6 crore, its revenue for the September quarter has surprised many analysts. Its revenue was INR 6,147 crore while the EBITDA of Jio was INR 1,442 crore. On this, Ambani has also said that this result of Jio is strong and it shows how robust the business model and the other important efficiencies RIL has built with its investment in 4G technology and the right business strategy. He believes that as always RIL has demonstrated excellence in vision, execution, and commercial acumen.

Summary

Mukesh Ambani overtook Chinese businessman Hui Ka Yan and takes the first spot as Asia’s richest man.

Mukesh Ambani and Mathew Oommen Speak about Taking Digital Innovations to the Grassroots Level at the IMC

October 6, 2017

At the India Mobile Congress (IMC), Mathew Oommen, The President of Network, Global Strategy, and Service Development at Reliance Jio, said that India has the power to generate employment and also create innovation at the taluka level.

Mathew Oommen talks about digital India

Mathew Oommen thinks that there are endless possibilities for making India digital. Some of these initiatives include the Digital India program, Startup India, and Make in India. These programs may create a lot of opportunities for everyone. He believes that LTE is a ‘learn to earn technology’. This technology will bring digital empowerment and make India a secure and digital nation.

Oommen believes that this is the age of advanced technology. With the help of artificial intelligence, visual graphics, virtual reality, natural language thinking, and natural language processing, the way in which people do business will change. He also said that the most important thing is enhanced data security and the privacy and security of India and its people.

Mukesh Ambani talks about making India digital

Mukesh Ambani, the Chairman of Reliance Industries Limited (RIL) said that to become one of the world’s top three economies, India will have to grow from an economy of USD 2.5 trillion to one of USD 7 trillion. He also said that if this has to happen, the telecom and Information Technology (IT) industries will have to play a foundational role in creating the necessary digital infrastructure.

Data, the oxygen of the digital economy

Ambani thinks that data is the oxygen of the digital economy. The most urgent task of the telecom industry is to empower 1.3 billion people with the tools to flourish in the digital marketplace. At the IMC, Ambani also said that data is like new oil, which India doesn’t need to import. It is a valuable source that will create prosperity and opportunities for the nation and its people.

He claimed that 4G coverage will be larger than 2G coverage in India in a period of 12 months. The country has leapfrogged from the 155th rank in the world to being the world’s largest mobile data consuming nation within a year.

Ambani talks about industrial revolution

Mukesh Ambani said that even though India has missed the first three industrial revolutions, the country has got the opportunity to lead the ongoing fourth global industrial revolution. He thinks that this revolution is going to have the most dramatic transformations globally in comparison to the previous revolutions.

Talking about data, he also reiterated that it is the duty of the telecom industry to provide high-speed data, which is inexpensive. He also believes that every Indian should have access to smartphones that are affordable and that can connect to the power of the Internet.

Summary

Mukesh Ambani and one of his officials, Mathew Oommen speak about taking digital innovations to the grassroots level and making India a digital nation, at the India Mobile Congress.

Reliance Jio Launches a Massive Rollout for JioPhone

August 23, 2017

The opening for the JioPhone pre-bookings, the feature phone manufactured by Reliance Jio, the telecom arm of Mukesh Ambani led Reliance Industries Limited (RIL), is coming near. With this, the company is gearing up to supply the required number of phones to dealers.

Pre-booking and beta testing

The phone was available for beta testing from 15th August 2017 to 23rd August 2017. The pre-booking slot for the JioPhone will begin from 24th August 2017. This will be on a first come first serve basis.

Reliance’s efforts to market the JioPhone

The JioPhone is going to be marketed under the conglomerate’s LYF brand. The company is planning to reach out to around 10 lakh retailers. Through this, RIL expects to be delivering around 5 million handsets every week. This is expected to continue on for the next five or six months.

It has already started educating dealers on how to avail of the vouchers as well as the pre-booking process. The transactions for the above will be done via the BHIM app. Mukesh Ambani led RIL is also expected to roll out a Jio point of sale (PoS) version that will come with the pre-booking option for the voucher facility.

The retailers who wish to sell the JioPhone will need to download this app in order to make the required payments for the vouchers and for booking the phone.

Distribution of JioPhone

The JioPhones are going to be imported from Taiwan. These phones will then be brought into the cities of Mumbai, Delhi, Ahmedabad, Kolkata, and Hyderabad. The devices will then be sent to the Reliance Digital stores and Jio outlets. Reliance Digital currently owns a chain of consumer electronic stores. This includes a network of around 1,996 outlets in approximately 700 cities. The company also has close to 1,072 Jio Centers. These outlets will distribute the handsets to the retailers.

First round of JioPhone sales

In the first round, the telecom operator is going to provide dealers with 40 JioPhones. These phones will be available only through the Jio vouchers and on a first come first serve basis. The dealers may purchase these phones by paying the company INR 500 for each voucher which means INR 20,000 in total. Once the dealer sells the phones, he/she will be reimbursed. Of the INR 1,500 security deposit the buyer pays, the dealer will retain INR 500 while the rest INR 1,000 will go to the company. In order to sell its phones, RIL is making use not only of its own work force but also of the services by other logistics companies.

About the JioPhone

The JioPhone is a 4G VoLTE supported feature phone. Here are some of its specifications:

  • A 2 MP rear camera
  • A front VGA camera
  • 512 RAM
  • 4GB internal memory
  • Expandable memory is 128 GB via a microSD card
  • 2,000 mAh battery
  • 4-inch screen
  • Alphanumeric keypad
  • Jio app suite

This phone is also known to be effectively free as the customer will only have to pay an INR 1,500 security deposit which is refundable after three years.

Summary

To promote its new JioPhone, RIL has launched a massive rollout.

Digital Payment Apps Offer Cashback on Reliance Jio Recharge

August 17, 2017

Mukesh Ambani’s Reliance Jio began commercial operations in September 2016. It gained a subscriber base of over 100 million in a record time of six months. The company has always been offering attractive 4G data and voice calling packs to its users.

Cashback offers

A number of smartphone companies have joined hands with Jio to offer additional data. Now, several payment portals have announced cashback offers for Jio users. These portals include Amazon Pay, Paytm, MobiKwik, and PhonePe. Each of them is giving different cashback offers on recharge of Reliance Jio accounts. This move is aimed to attract other users apart from the users of MyJio app.

Most of the cashback given by these digital payment apps are on plans priced more than INR 300. Reliance Jio plans for this range cost INR 309, INR 349, INR 399, INR 509, INR 999, INR 1,999, INR 4,999, and INR 9,999.

Here is a list of all the cashback offers provided by these digital payment portals:

  • Paytm

Paytm’s cashback offer starts from a recharge of INR 100. The app is giving a minimum cashback of INR 15 on a recharge of INR 100 or more. For recharges above INR 300, the cashback is of INR 76. Paytm will credit the money in the user’s account within 24 hours of recharge. To avail of the cashback, users will need to use the promo code, PAYTMJIO while making the recharge from the app. The promo code is listed on the app, so that users may just select it instead of manually typing. Selecting from the list adds the promo code automatically.

  • PhonePe

PhonePe, a Flipkart app is giving INR 75 cashback on a Reliance Jio recharge of INR 300 and more. This offer is available from 14th August to 21st August exclusively for prepaid users. It is applicable on just one Jio recharge transaction. Similar to Paytm, the app will credit the cashback into the user’s PhonePe account.

  • MobiKwik

MobiKwik is offering cashback as high as INR 159. This offer is for new users who have never recharged through MobiKwik. The code of this offer is NEWJIO. Cashback for other users is of INR 59 with code JIOMBK. Both these offers are available for Jio users recharging with the INR 399 plan only.

  • Amazon Pay

Amazon’s cashback offer is of INR 99 for Jio recharges of or above INR 309. This offer is exclusively available on first Jio recharge through Amazon Pay. It is valid from 14th August to 19th August. On subsequent recharges, Amazon is offering cashback up to INR 20 valid till 30th November. This means a user may get a total cashback of up to INR 300 until November. The cashback will be credited to the Amazon Pay account within seven days post the recharge.

Mukesh Ambani led Reliance Jio prepaid plans start from INR 19 while the postpaid plans start from INR 309.

Summary

Digital payment apps like Paytm, PhonePe, Amazon Pay, and MobiKwik have announced different

Mukesh Ambani to Challenge Employees to Come Up with Innovative Ideas

August 11, 2017

Chairman of Reliance Industries Limited (RIL), Mukesh Ambani is all set to throw a “grand challenge” at his employees. As a part of the Mission Kurukshetra (MK), the chairman will challenge 1.43 lakh employees belonging to the Reliance family.

The aim of the challenge is to get innovative ideas that will drive the company’s next engines of growth. The challenge would have reached the employees earlier but Ambani did not want to distract his team’s focus from the telecom business.

About Mission Kurukshetra

MK was first launched in the year 2009-2010 and then again in May 2014. It is Ambani’s dream project. He envisions making RIL the most innovative company in the world through this project. MK covers a wide range of RIL’s businesses. It motivates employees to think and suggest ideas that may transform the way RIL does business.

The benefits of this project are enjoyed by all stakeholders in the form of surprising dividends. And the fruitful results have encouraged the team to strive for more.

Views of Raghunath Mashelkar

Raghunath A. Mashelkar is an academic on RIL board and a mentor of MK. He is also the Chairman of Reliance Innovation Council (RIC). He said that around ten years back, Ambani inspired him to take on the innovation project.

Mashelkar revealed that Ambani has a peculiar style of dealing with a crisis. He sees it through a different lens. He encourages the team to face challenges and achieve the impossible. Mashelkar informed that after every board meeting, Ambani conducts brainstorming sessions that last from half an hour to two hours. These sessions help everyone to come out charged and energized.

Mashelkar said that Ambani actively participates in all the matters. Ambani knows everything that is happening in the Reliance factory even more than what the factory manager would know, he added.

Views of Sushil Borde

Sushil Borde is a key facilitator of RIC. He laid the ground for MK. He defines the project as a war against complacency and status quo. He informed that MK has been very popular among the people of RIL since its inception. The project has given birth to 17,800 ideas till date with an average of 500 ideas per month since the re-launch. Borde also informed that 3,350 ideas out of these have been adopted and 64 percent of them are at different stages of implementation.

Mukesh Ambani’s inclination towards learning

Ambani lays a special focus on learning. While venturing into the telecom business, he took an online course on the subject. People working with him say that he takes such courses regularly to learn new things.

Mashelkar believes that nobody can defeat Mukesh Ambani in terms of granular thinking because he involves himself deeply in any topic. He said that Ambani is not an expert of life sciences; but, the way he reads scholars is incredible. Ambani has surprised everyone with his knowledge and questions on the latest life sciences technology.

Summary

Under Mission Kurukshetra, Mukesh Ambani will throw a “grand challenge” at his employees and encourage them to come up with innovative ideas.