India’s struggle against the COVID-19 pandemic hasn’t stopped the deal making spree at Reliance Industries. As the country slows down, Mukesh Ambani’s conglomerate by sales and market capitalization has only seemed to speed up. In fact, some critics point out that Reliance has already become the face of Digital India, the mega campaign launched by the Narendra Modi government, a year after it came to power.
“Mukesh Ambani has had this vision to vertically integrate multiple sectors and do digital cross selling across those sectors since long before he launched Jio,” Sanchit Vir Gogia, chief analyst and CEO of Greyhound Research, an independent technology industry research firm mentioned in his blog. “What they are trying to do is connecting each vertical built with physical assets onto the digital platforms, and then connecting different verticals through the digital platforms. I call it ‘phygitization’ — a combination of physical assets and digitization.”
Ambani has now set his sights on another industry: financial services. On April 30, Reliance quietly announced financial services as its newest business segment. Some took it as the latest sign that Reliance wants to become an Indian version of Alibaba, the Chinese e-commerce giant founded by Jack Ma, one of the few who rivals Ambani on Asia’s rich list. As Gogia already predicted Ambani’s next big thing will most likely be the financial sector. “With that accomplished, Reliance will look bigger than Alibaba,” he noted.CXOtoday.com
P.S.: For more information on the recent investments, value that each investor brings to Jio Platforms, engagement with Microsoft, impact on Bharti Airtel, and the challenges the company can expect, read this research report by Greyhound Research.
Copyright © 2021 Greyhound Research. All rights reserved. You may share this research note using the options made available. Please don’t copy this research note (complete or parts) and distribute over the web and emails. Connect with us if you need clarifications.
Legal Note. The contents in this portal do not necessarily reflect the opinions, ideas, thoughts, points of view, and any other potential attribution to any contributor’s, commentator’s, or author’s past or future employers. No NDA’s have been broken. Email our Client Centricity Team to learn more on our NDA policy. Sources may come from both publicly available information and private individual conversations. In case of publicly available information, attributions have been added.