Mukesh Ambani on Thursday assured Reliance Industries shareholders that all its investments in sectors like retail and telecom will deliver in due time.
Pointing to the company’s diversification plans, he said that the company does not have any "unrelated focus" and all its investments in sectors like retail and telecom will deliver in due time.
"We are building a full, new consumer value chain. If you see the top value generators in the whole world, then they are energy companies and consumer companies. In India, we have the unique opportunity where in 10 years, we can build up a complete value chain in the retail business," he told company shareholders in Mumbai.
"And all our investment will give deliveries and we don't have any unrelated focus, which I want to assure all of you," he said.
RIL, which announced plans to invest Rs 100,000 crore (Rs 1,000 billion) over the next five years in energy, retail and telecom businesses to double operating profits, always invests in businesses of future, failing which it could have ended as a textile firm, he said.
Last year Mukesh Ambani owned Reliance Industries bought 95% stake in Infotel Broadband for Rs 4,800 crore. Infotel Broadband is now a subsidary of Reliance Industries.
Meanwhile according to Economic Times quoting a company official said that the company is exploring the possibility of making its own mobile phones.
It said that the company which is building its own towers, hopes to make its own mobile phones and will integrate financial services into the business, this executive said, without divulging specific details.