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<ul><li> As many as 1.5 lakh of these employees were hired by Reliance Retail, the retail arm of RIL.</li><li>It claims that Reliance Retail is one of the biggest employers in India, with over 361,000 employees in total.</li><li>Reliance spent close to ₹18,775 crore ($2.4 billion) on employee benefits expense in FY2022.</li></ul>The Mukesh Ambani-led oil-to-chemical conglomerate Reliance Industries Limited (RIL) added over 2.1 lakh new employees on its payroll in the fiscal year 2022, the company said in a statement. As many as 1.5 lakh of these employees were hired by Reliance Retail, the retail arm of RIL. The company now claims that Reliance Retail is one of the biggest employers in India, with over 361,000 employees in total. “During the year, Reliance has also been able to generate significant employment opportunities for the people of our country and continues to remain amongst India’s largest private sector employers,” said RIL chairman Mukesh Ambani. “Over the past year, we added over 2.1 lakh new employees across our businesses with our consumer and technology business creating a large part of these new jobs,” he added. Reliance Industries Limited, on a consolidated basis, spent close to ₹18,775 crore or $2.4 billion on employee benefits expense between April 2021 and March 2022. This represents an increase of nearly ₹4,000 crore compared to the same time period in the previous year. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Timeline </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee benefits expense </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oct-Dec 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,660 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-Mar 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,278 crore </td></tr></tbody><tbody></tbody></table>Source: Reliance Industries Limited (RIL) Reliance Industries Limited reported gross revenue of ₹792,756 crore (about $105 billion) in gross revenue in the fiscal year 2022. Its net profit stood at ₹67.845 crore in the same time frame. On a quarterly basis, the company reported ₹2.32 lakh crore )$30.7 billion) in revenue. The company reported a net profit of ₹18,021 crore ($2.4 billion) in January-March quarter, which is equivalent to the amount Reliance spent on employee benefits last fiscal year. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/retail/news/reliance-retail-hits-2-lakh-crore-in-revenue-adds-over-2500-stores-in-the-last-one-year/articleshow/91381054.cms">Reliance Retail hits ₹2 lakh crore in revenue, adds over 2,500 stores in the last one year</a> <a href="https://www.businessinsider.in/business/corporates/news/zomatos-deepinder-goyal-donates-stock-option-worth-700-crore-to-zomato-future-foundation/articleshow/91371003.cms" data-type="tilCustomLink">Deepinder Goyal donates his Zomato stock options worth ₹700 crore to offer free education for delivery partners’ children and more</a> <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts</a>

Reliance adds over 2 lakh new jobs in India in FY22 – every 3 out of 4 new jobs are from retail alone

Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="mukesh-ambani" source="keywords">Mukesh Ambani</keyword> on Wednesday said his company <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> will set up India's first and world-class carbon fibre facility at <keyword id="20065225" type="General" weightage="20" keywordseo="hazira" source="keywords">Hazira</keyword>. Speaking at the Vibrant <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword> Summit here, Ambani said Reliance was, is, and will always remain a Gujarati company. "Reliance has invested over USD 150 billion (12 lakh crore) in creating world-class assets and capacities across India in last just 10 years. Of this, more than one third has been invested in Gujarat alone," he said. He said Reliance will contribute to making Gujarat a global leader in green growth. "We will help Gujarat's target to meet half of its energy needs through renewables by 2030." Reliance started building the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar. This will generate a large number of green jobs and enable production of green products and materials that will make Gujarat the leading exporter of such goods and the company is ready to roll this out in the second half of 2024 itself, he said. Reliance Jio completed the fastest roll-out of 5G infrastructure anywhere in the world. For India's bid for 2036 Olympics, Reliance and Reliance Foundation will join forces with several other partners in Gujarat to improve the education, sports and skills infrastructure that will nurture the champions of tomorrow in various Olympics sports, he said. "No power on earth can stop India from becoming a 35 trillion-dollar economy by 2047. And I see Gujarat alone will become a 3-trillion dollar economy by then," he added.

Reliance to set up carbon fibre facility in Gujarat as Ambani promises 'green growth'

Amid growing competition between telecom operators to be number 1 in 4G devices and services, job aspirants are at the gaining end. 
 With telecos like <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword>, Idea, <keyword id="1543410" type="UNKNOWN" weightage="20" keywordseo="Reliance-Jio-Infocomm">Reliance Jio Infocomm</keyword> rolling out <keyword id="6493730" type="UNKNOWN" weightage="20" keywordseo="4G-services">4G services</keyword>, this has led to spurt in jobs, which was not the scenario in 2012 when many telecom licences were cancelled. 
 
Headhunters say recruitments in the telecom sector have started and companies are expected to hire 20,000-30,000 in the next 4-6 months. 
 
"What Jio is trying to do is build an entire ecosystem and revolutionalise the way things worked till now. To this end, it has hired a lot of people across different sectors. Other companies are following suit," a top headhunter who refused to be named told ET. 
 
Apart from fresh hiring, even poaching is becoming common as Reliance Jio is hiring people from various organisations for top posts. 
 
Reportedly, Reliance Jio’s head count increased from 700 employees in 2012 to 17,500 by March 2015. 
 Even <keyword id="6354924" type="PERSON" weightage="20" keywordseo="Idea-Cellular">Idea Cellular</keyword> hired over 2,000 people in 2015. 
 
"Focus on rural penetration, Jio's launch and hiring within sector have forced telecom firms to create benches and that means more recruitments," Santrupt Misra, director group HR at the Aditya Birla Group, told ET, adding by next year at least 2,500 employees will be added.

This is the right time to apply for jobs in the telecom sector, thanks to 4G

<ul><li><keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, Chairman and Managing Director, Reliance Industries Limited (RIL), stated at the <keyword id="883323" type="General" weightage="50" keywordseo="reliance-family" source="Orion">Reliance Family</keyword> Day Event that the next big cycle of growth in Reliance will not be Resource-driven but Innovation Driven. </li><li><keyword id="10924" type="General" weightage="100" keywordseo="ambani" source="Orion">Ambani</keyword> also added that Jio's 5G deployment will be complete in 2023. </li><li>Providing unique digital products and solutions to both domestic and international markets is the next big opportunity for India, according to Mukesh Ambani. </li></ul>Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited (RIL) said on Thursday that Reliance has begun implementing two important tasks of empowering young leadership and young talent. Speaking at the Reliance Family Day event, Ambani said, "First, we are empowering Reliance with new Leadership Capital especially with Young Leadership. Second, we are enriching Reliance with new Talent Capital again, with Young Talent." "I would like our leaders to accelerate this process throughout the organisation. All of us must realise that the next big cycle of growth in Reliance will not be Resource-driven but Innovation Driven", Ambani said. "Acutely aware of this opportunity and responsibility, Reliance has embarked on a journey of comprehensive self-transformation. The end of 2022 is when Reliance will have crossed the half-way mark of its Golden Decade. In five years from now, Reliance will complete its fifty years", Ambani said. "Under Akash's Chairmanship, Jio is rolling out the world's best 5G network across India at a pace, which is faster than anywhere in the world. Jio's 5G deployment will be complete in 2023", Ambani said. But Jio Platforms should now get ready for India's next big opportunity - to provide unique digital products and solutions to both domestic and international markets, he added. "Under Isha, our Retail business has grown rapidly. It has emerged as one with the widest and deepest reach in India, across all product baskets. Most significantly, <keyword id="58448" type="General" weightage="50" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> has created over two lakh new jobs last year, becoming one of India's leading employers", Ambani said. "With Anant joining this upcoming Next-Gen business, we are making rapid progress in getting our Giga Factories in Jamnagar ready. From being India's largest and most valuable corporate, Reliance is now well on its way to also becoming India's 'Greenest' corporate", Ambani said. "2023 will also be a Year of Renewal and Revitalisation for Reliance Foundation. Under Nita's inspiring leadership, Reliance Foundation is working on even more ambitious new initiatives in education, healthcare, sports, women's empowerment and ecological conservation", Ambani added. "Today we have come together to celebrate Reliance Family Day to pay homage to our Founding Chairman <keyword id="5181595" type="General" weightage="50" keywordseo="shri-dhirubhai-ambani" source="Orion">Shri Dhirubhai Ambani</keyword> and to revel in the spirit of togetherness and oneness as one large Reliance Family...Dhirubhai's Family", Ambani said. "Years will roll. Decades will pass. Reliance will continue to grow bigger and bigger, Like the proverbial Banyan Tree", Ambani said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/most-booked-destinations-in-2022-as-per-oyo/articleshow/96588574.cms">Hyderabad, Texas, Bandung and London among most-booked destinations in 2022, as per OYO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indian-american-it-professional-convicted-of-making-illicit-profits-worth-7-3-mn/articleshow/96586256.cms">Indian-American IT professional convicted of making illicit profits worth $7.3 mn</a>

Years will roll, decades will pass and RIL will grow like a banyan tree: Mukesh Ambani

<keyword id="6355199" type="CITY" weightage="80" keywordseo="Reliance-Industries">Reliance Industries</keyword> chairman <keyword id="3820" type="PERSON" weightage="80" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> today said the company would partner <keyword id="1444247" type="UNKNOWN" weightage="80" keywordseo="small-entrepreneurs">small entrepreneurs</keyword> of <keyword id="6357783" type="CITY" weightage="80" keywordseo="West-Bengal">West Bengal</keyword> by providing them connectivity. 
 "In the next phase, we will partner with the small entrepreneurs of the state by providing them with connectivity," Ambani said at the opening of the two-day Bengal <keyword id="135771" type="ORGANIZATION" weightage="80" keywordseo="global-business">Global Business</keyword> Summit here. 
 
Reliance, through its telecom arm Reliance Jio, has invested nearly Rs 5,000 crore in the state in the last three years for developing the digital broadband network. 
 
"We have connected more than 1,000 towns and 23,000 plus villages. Our aim is to connect all the 40,000 villages by 2017," Ambani said. 
 
Complimenting West Bengal government, he said "We have got all the approvals in a time-bound manner." 
 "As an investor, I stand here to say that West Bengal is among the top of the list in terms of doing business and recommend the state as an ideal investment destination," Ambani said in the presence of West Bengal Chief Minister <keyword id="43868" type="PERSON" weightage="80" keywordseo="Mamata-Banerjee">Mamata Banerjee</keyword> and several other industrialists, giving a shot in the arm to the government battling to develop an industry-friendly image ahead of the state polls. 
 
He said Reliance is providing direct employment to 11,000 people and indirect jobs to 30,000 others and is one of the leading employers in the private sector in the state 
 
Image credit: Indiatimes

Reliance Industries will connect small entrepreneurs in West Bengal: Mukesh Ambani

<ul><li>Pay within four weeks or go to jail for three months, India's apex court orders.</li><li>Three Anil Ambani-owned companies have to pay ₹4.5 billion to Ericsson.</li><li>SC has imposed an additional fine of ₹10 million on each company.</li></ul> India's top court today held <keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword> and his company Reliance Communications guilty of contempt of court, Bar and Bench reported. The order laid down a deadline of four weeks to make a payment of ₹4.53 billion , failing which Anil Ambani along with his fellow directors, Reliance Telecom chairman Satish Seth and Reliance Infratel chairman Chhaya Virani, may face a jail term of upto three months. The three men have also each been hit with an individual fine of ₹10 million, which is also due in four weeks. The judges slammed the defendants for their 'cavalier' attitude, adding that they did not accept the "unconditional apology" offered by Ambani and his fellow directors. Reliance Communication's advocate Mukul Rohatgi said he respects the decision of the <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> and expressed confidence that the group would make good on the payment. Shares of the companies fell by as much as 10% following the verdict, exacerbating last week's plunge. Ambani was present in court for the order. Last week, the Supreme Court was forced to dismiss two registrars - whose job it is to upload orders on the SC website - for deliberately changing the wording in a document in order to prevent Ambani from making a personal appearance in court. The Supreme Court had earlier directed Anil Ambani-owned Reliance Communications to pay ₹5.5 billion to Ericsson towards settlement of dues by mid-December 2018. It had already deposited ₹1.2 billion with the court, and will have to pay the remaining amount now. Earlier this month, Reliance Communications <a target="_blank" href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/from-glory-to-dust-an-ambani-brands-journey-to-bankruptcy/articleshow/67837769.cms">commenced insolvency proceedings</a> through the National Company Law Tribunal. The former telecom major has nearly ₹450 billion in debts. In order to trim its debt burden, Ambani was hoping to secure a mammoth sale of spectrum assets to his brother Mukesh Ambani’s Jio. However, the deal was called off in December last year. As things stand, Reliance Communications is struggling to find buyers for its assets. SEE ALSO: <a href="https://www.businessinsider.in/anil-ambani-rcomm-vs-ericsson-case-supreme-court-dismisses-two-courtmasters/articleshow/67988175.cms">India’s Supreme Court dismisses two staff members for trying to protect Anil Ambani from personal appearance</a> <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-decides-that-it-may-be-too-expensive-to-give-brother-anil-ambanis-rcom-a-lifeline-after-all/articleshow/67174546.cms">Mukesh Ambani’s Reliance Jio decides that it may be too expensive to give brother Anil Ambani’s RCom a lifeline after all</a>

Supreme Court holds Anil Ambani companies guilty of contempt

<ul><li>SEBI approved the appointment of Ashish <keyword id="1631" type="General" weightage="100" keywordseo="chauhan" source="Orion">Chauhan</keyword> as its new MD and CEO</li><li>Chouhan had earlier worked at <keyword id="6354646" type="General" weightage="20" keywordseo="NSE" source="Orion">NSE</keyword>, for seven years as its vice-president starting 1993.</li><li>He was known as the father of modern financial derivatives as he was instrumental in setting up the NSE derivatives platform.</li></ul>The markets regulator SEBI has approved the appointment of Ashish Chauhan as NSE’s new MD and CEO, on Sunday. Chouhan will give up his top job at the rival stock exchange, BSE, to join India’s largest stock exchange during turbulent times. “The Securities and Exchange Board of India (SEBI) has approved the name of Ashish Kumar Chauhan as the MD and CEO of NSE. His appointment is subject to acceptance of the offer made to him and fulfillment of terms and conditions including approval from the shareholders of NSE,” the exchange said, in a press release. <cmsannotation type="cmsannotation" annotationid="Chouhan comes back to NSE after 22 years" comment="subhead" text="Chouhan comes back to NSE after 22 years">Chouhan comes back to NSE after 22 years</cmsannotation> The top job at NSE became vacant after former IDBI head Vikram Limaye who was heading it, did not extend his five year contract in spite of the eligibility. However, Chouhan will be more burdened by the events surrounding another former CEO of the exchange <keyword id="13211376" type="General" weightage="20" keywordseo="Chitra-Ramakrishnan" source="Orion">Chitra Ramakrishnan</keyword>’s tenure — embroiled in money laundering amidst other controversies. Ramakrishnan was recently arrested by the Enforcement Directorate and sent to a four day custody o<a href="https://www.businessinsider.in/india/news/chitra-ramakrishna-arrested-by-ed-and-sent-to-a-four-day-remand/articleshow/92879523.cms">ver illegal phone tapping in her former case</a>. For Chouhan this will be a second coming as he had worked at NSE, for seven years as its vice-president starting 1993. In fact, he was one of the founding fathers of the exchange and is also credited with conceptualizing the NSE derivatives platform. For this, he is constantly referred to as the father of modern financial derivatives. He is also the creator of Nifty, and was instrumental in setting-up screen based trading. A lot of market experts believe that his appointment signals NSE’s ambitions to go public. After he quit NSE in 2000, he worked at various positions at various Reliance group entities like Reliance Infocomm, Reliance Communications and Reliance Industries. Chouhan even worked at Mumbai Indians briefly before joining BSE as its deputy CEO and rising to the position of CEO, in the 12 years that he worked there. The governing board of NSE has appointed an internal executive committee comprising of Yatrik Vin, Group CFO head of corporate affairs; Priya Subbaraman as the chief regulatory officer, and more; to run the affairs in the interim. This committee will be dissolved once the new CEO assumes charge, it said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-largest-wine-seller-sula-vineyards-files-for-an-ipo/articleshow/92919070.cms">India’s largest wine seller Sula Vineyards files for an IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/booster-shots-important-says-new-study-as-covid-vaccine-protection-is-short-lived/articleshow/92918945.cms">Booster shots important says new study as Covid vaccine protection is short-lived</a>

Meet the new CEO of NSE Ashish Chauhan, creator of Nifty and father of derivatives

As India and other countries take concrete steps to adopt 5G, the number of job postings by telcos related to 5G increased by 65 per cent last month, from 5,265 job postings in January to 8,667 in July, a report showed on Wednesday. Active jobs were up by 46 per cent, whereas job closures went up by 75 per cent in the same period, according to GlobalData's analysis of 175 companies globally. <keyword id="6354504" type="General" weightage="100" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> is hiring for 'Lead 5G Core &amp; Cloud Architecture' to support diverse use cases and core products for 5G. Vodafone Idea's posting for an 'AGM-Practice Lead-Smart Mobility' will be required to have experience in the smart mobility vertical and 5G-connected cars and electric vehicles. "India's 5G spectrum auction ended with Reliance Jio emerging as the top bidder along with Bharti Airtel, Vodafone Idea, and <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword>. Bharti Airtel is planning to launch 5G services in India before the end of August," said <keyword id="14742572" type="General" weightage="50" keywordseo="sherla-sriprada" source="Orion">Sherla Sriprada</keyword>, business fundamentals analyst at GlobalData. Major players such as Ericsson, China Telecom, Deutsche Telekom and American Tower were discussing investment around CapEx and 5G production in 2022. Several tech companies are looking to hire engineers for developing 5G use cases. "For jobs such as network administration, testing and software development the firms are likely to hire experts in areas such as infrastructure development, equipment, network operations, and spectrum services," <keyword id="12694249" type="General" weightage="80" keywordseo="sriprada" source="Orion">Sriprada</keyword> added. <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> has also advertised roles in the 5G protocols layer and is hiring for 'RF Systems Architect', which looks at defining and researching emerging 6G spectrum policy, use cases and trends for radio access networks in advance for 6G radios. Nokia has also opened a 5G Industrial Incubation Lab in South Australia and posted a '<keyword id="14742573" type="General" weightage="50" keywordseo="graduate-engineer-in-technology" source="Orion">Graduate Engineer in Technology</keyword>' role. "It's not only 5G investments that companies are looking at as they have also shown an interest in 6G investments and related roles," said Sriprada. Over 130 jobs were posted between January 2022 to July 2022 based on 6G as a title search. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rupee-gains-22-paise-against-the-dollar-as-crude-prices-ease-fpis-come-back/articleshow/93619085.cms">Rupee gains 22 paise against the dollar as crude prices ease, FPIs come back</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cabinet-clears-proposal-to-raise-eclgs-corpus-to-rs-5-lakh-cr-for-tourism-and-hospitality-sector/articleshow/93618831.cms">Cabinet clears proposal to raise ECLGS corpus to Rs 5 lakh cr for tourism and hospitality sector</a>

Reliance Jio, Voda step up hiring as 5G related job postings up 65%

On March 1, <keyword id="1578061" type="UNKNOWN" weightage="60" keywordseo="sequestration">sequestration</keyword> will go into effect. While the across-the-board budget cuts will target each and every non-exempt program equally, some states in particular will suffer the brunt of the pain because of an economic reliance on defense infrastructure. 
Because military personnel are largely exempt for the cuts, most of the military cuts have been shifted to the things that economically stimulate states with defense sites — bases, manufacturing, construction and research and development.
<a href="http://www.pewstates.org/projects/stateline/headlines/sequestration-how-a-spending-stalemate-would-affect-the-states-85899418421">Pew Research's Stateline has done an analysis</a> and figured out the states with the worst economic hits.
These are the top five states hit the hardest by the defense side of the sequestration:
<ul>
<li><keyword id="23461" type="CITY" weightage="60" keywordseo="Virginia">Virginia</keyword> — 122,800 jobs lost</li>
<li><keyword id="2379" type="CITY" weightage="60" keywordseo="California">California</keyword> — 125,800 jobs lost</li>
<li><keyword id="15710" type="ENTERTAINMENT" weightage="60" keywordseo="texas">Texas</keyword> — 91,600 jobs lost</li>
<li><keyword id="105921" type="ORGANIZATION" weightage="60" keywordseo="Maryland">Maryland</keyword> — 36,200 jobs lost</li>
<li><keyword id="6357385" type="ENTERTAINMENT" weightage="60" keywordseo="florida">Florida</keyword> — 38,200 jobs lost</li>
</ul>
<div>Here's a full infographic from Stateline on the economic impacts in the worst-hit five:</div>
<div class="image-container click-to-enlarge" style="width:590px"><div class="image"><a title_source="Pew Stateline" title_caption="" class="zoomin" href="http://static6.businessinsider.com/image/5124eedd6bb3f71c1f000000-960/screen%20shot%202013-02-20%20at%2010.41.27%20am.png"></a></div><a href="http://www.pewstates.org/projects/stateline/headlines/sequestration-how-a-spending-stalemate-would-affect-the-states-85899418421">Pew Stateline</a></div>
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Five States Will Feel The Job-Killing Effects Of Sequestration Harder Than Any Others

NEW DELHI: Stating that Reliance Jio will cover around 5,000 towns and 2.5 lakh villages in the initial phase, <keyword id="6484187" type="CITY" weightage="40" keywordseo="RIL">RIL</keyword> Chairman <keyword id="523543" type="PERSON" weightage="100" keywordseo="Mukhesh-Ambani">Mukhesh Ambani</keyword> on Wednesday said, "Reliance Jio will be RIL's most transformational business." 
 
Ambani said that the company may rollout 4G broadband services in the coming months. "Limited field trials for broadband are already ongoing. We plan to have a phased launch of broadband operations from 2015." "Rs 70,000 crore is being invested in 4G broadband," he added. 
 Addressing RIL's 40th AGM, Ambani said that the company aims to become a Fortune 50 company in the next 2-3 years. "<keyword id="6355199" type="CITY" weightage="40" keywordseo="Reliance-Industries">Reliance Industries</keyword> will <keyword id="47916" type="UNKNOWN" weightage="40" keywordseo="invest">invest</keyword> Rs 1,80,000 crore in next three years," he said. 
 
"Market-based gas prices are key to developing RIL's energy resources," he said. "We are looking to expand international presence beyond US. We are evaluating opportunities to expand presence in Venezuela," he added. 
 
On the issue of gas price hike, Ambani said, "RIL is facing ill-informed campaign against gas price hike. We will endeavour to work with government to resolve issues of KG-D6 production." "Efforts being made to maximise production from KG-D6 wells. We are assessing the potential of new gas discoveries in India," Ambani added. 
 
Speaking about RIL's retail business, Ambani said, "We are confident of doubling retail business every 3-4 years. Retail will emerge as a major growth engine for consumer business." "Reliance Retail is India's largest retailer by revenues. We have 1,691 Reliance Retail stores across 146 cities in India," he said. 
 
Ambani said that Jio, a Rs 70,000-crore investment business, will be one of the largest job and wealth creators. He added that the company already directly employed over 10,000 staff, and some 30,000 from partners and vendors. 
 
Another 100,000 people from digital infrastructure vendors to Jio are engaged in laying down the digital back bone, or fibre optic network, country wide.

Reliance Jio 4G From 2015; RIL Aims To Be Fortune 50 Company: Mukesh Ambani At AGM

<ul class="summary-list"><li><keyword id="6354576" type="UNKNOWN" weightage="60" keywordseo="facebook">Facebook</keyword> announced it would invest $5.7 billion in <keyword id="6354504" type="DEFINITION" weightage="60" keywordseo="reliance-jio">Reliance Jio</keyword>, <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s popular mobile internet service.</li><li>The multi-billion-dollar stake makes Facebook the largest minority shareholder in the internet service, which is a part of Reliance Industries Limited.</li><li>In the past three years, <keyword id="2003276" type="PERSON" weightage="60" keywordseo="Jio">Jio</keyword> has brought hundreds of millions of people in the country online, making the country a vital market after India "overtook the US last year to become the world's second-largest smartphone market after China by unit shipments," The Financial Times reported.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Facebook announced Tuesday that it would invest $5.7 billion in Reliance Jio, India's popular mobile internet service that brought hundreds of millions in the country online in three years.The multi-billion-dollar stake makes Facebook the largest minority shareholder in the internet service, which is a part of Reliance Industries Limited."This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country," Facebook said in a statement. "In less than four years, Jio has brought more than 388 million people online, fueling the creation of innovative new enterprises and connecting people in new ways."The Financial Times <a href="https://www.ft.com/content/a1ca0569-7ef7-49c8-b88e-72b792eefc62">first reported</a> that Facebook was eyeing the investment back in late March, as Reliance's burden of debt grew after expanding Jio. The Facebook-Jio deal is part of an effort aimed at relieving the company of its debt by March of next year, according to The Financial Times report.Facebook said one focus of the collaboration will be to create "new ways for people and businesses to operate more effectively in the growing digital economy," like supplementing Jio's small business initiative with the "power of WhatsApp" to help businesses and shop connect on a larger scale."They account for the majority of jobs in the country, and form the heart and soul of rural and urban communities alike," the statement read. "In the face of the coronavirus, it is important that we both combat this global pandemic now, and lay the groundwork to help people and businesses in the years to come."Read the original article on <a href="https://www.businessinsider.com/facebook-invests-in-jio-india-mobile-internet-service-2020-4">Business Insider</a>

Facebook to invest $5.7 billion in Reliance Jio, India's popular mobile internet service

New Delhi, Jul 12 () Model Economic Township Ltd (METL), a subsidiary of Reliance Industries Ltd, on Sunday said Japanese company Tsuzuki will set up a manufacturing facility at its Jhajjar-based (Haryana) location. The company has entered into an agreement with the Japanese firm in this regard, METL said in a statement. Tsuzuki will manufacture steering knuckle for the automobile industry at Reliance MET, it added. Tsuzuki MD Eiichi Oya said the company will start manufacturing operations in the new unit in Jhajjar by 2021. The plant would cater to both domestic and international markets, he added. Tsuzuki is the third Japanese company after Panasonic and Denso to invest in MET Jhajjar, which is one of the 12 sites identified by the Japanese government to develop industrial townships in India. METL CEO and whole-time Director Shrivallabh Goyal said, the investment by Tsuzuki India will improve trade relations between India and Japan. The development of MET will not only bring economic development in the area, but also create job opportunities for the local residents, he added. Ten companies, including Panasonic, Denso, Reliance Retail, Allcargo, Bati India, Indo Space, Tirupati and Amber have already started operations at Jhajjar and construction work of few more companies are under progress, Goyal said. In addition, more than 170 companies have signed agreement to set up their manufacturing units, he added. MSS BAL BAL

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