Reliance Industries

India’s juggernaut

1 minute read

Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate—which has aligned its growth with Indian Prime Minister Narendra Modi’s vision for a “self-reliant” India—is the country’s most valuable company, with a market capitalization of more than $200 billion. Now led by Ambani’s son Mukesh, the Mumbai-based company has ventures in energy, retail, and telecommunications, among others, and has made its chairman Asia’s richest man. In February, Reliance came out on top in a fiercely competitive race to dominate India’s burgeoning streaming market by striking a $8.5 billion merger deal with Disney’s India business. The deal will bring together more than 100 television channels and give the combined group around a 31% share of India’s streaming market compared to rivals Netflix and Amazon Prime with 8% each, according to analytics firm Comscore.

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