Mukesh Ambani in race to become 'Retail King' now, profits may increase tenfold in next 10 years

Mumbai: Everything That Asia's richest businessman Mukesh Ambani is putting his hand on in the current era is proving to be gold. First telecom sector and now retail segment. His entire focus is now on capturing the reach of the consumers of the country and monopolizing the retail and e-commerce sectors. The report by US Investment Banker Goldman Sachs has made it clear that the coming decade is going to be named after Mukesh Ambani and his retail and ecommerce sectors.

According to the report, retail business is going to be a fast growth engine for Reliance Industries. Reliance Retail's profit could rise to 10 buns in the next decade or 10 years. According to the report, the profit ability of reliance segment has increased by 5 times from 2016 to 2020, but it has also seen a pause due to the corona that it has given in the recent past. During the corona crisis, Reliance has worked on strengthening digital capabilities as well as enhancing physical reach to boost its retail business.

According to the report, grocery organized retail in India is projected to grow by 6 times by FY30. Reliance Retail's share may be 15 per cent. Reliance Industries' core retail ravenry is expected to grow at 16 per cent CAGR in the next four years, which could reach $44 billion. E-commerce's share in total retail revenue could reach 35 per cent, or $5 billion.

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