Is Reliance at its most vulnerable ever?

Mukesh Ambani’s retail and digital bet involves many moving parts and, for the first time in its existence, Reliance Industries may not be in full control.

It is a question that came up after an event forced Reliance Industries Ltd’s hand early last month.

Just as 2020 was drawing to a close, the protest by farmers against the central government’s three new farm laws was picking up pace in Punjab and Haryana. The farmers were worried at the prospect of losing out on subsidies with the government looking to create a free market for agricultural produce. Their apprehension was that a conglomerate like Reliance, with its deep linkages to agriculture, would stand to benefit at their expense.

Reliance does, in fact, have big ambitions to grow …


T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor