Imagine buying clothes at a petrol pump? Yes, Reliance Industries is going to make it happen

In a bid to pump some life into its fuel business, Mukesh Ambani-led Reliance Industries (RIL) is going to merge its petrol pumps with retail and come out with a concept for fuel retail, which is a hit in US and Europe.

RIL has merged 361 of its fuel pumps with its organised retail business, which includes digital, fashion and lifestyle businesses.

"It is no longer simply a petrol pump. Today, what you can do with fuel retail outlets by virtue of the synergies make it a more consumer facing business, that is why we are clubbing it with retail," V Srikanth, joint chief financial officer at RIL, told ET.

RIL enhanced fuel retail business following government’s deregulation of diesel prices in October 2014.

RIL, which was earlier targeting to restart its 1,500 fuel retail outlets by March 2016, will see these outlets restarting by the end of the current fiscal.

"RIL plans to expand its retail presence through these petrol pumps. It will add 'square feet' to its retail business and increase the revenue of petrol pumps too," a source in the know told ET.

RIL plans to develop the real estate at these fuel retail outlets with stores offering non-fuel consumer products. The concept of mixing non-fuel retail stores with petrol pumps is a hit in the US and Europe.