The retail venture’s customer base rose by nearly a fourth to 156 million in FY21 and operated 12,711 stores covering 33.8 million square feet of space. It said it runs over two-thirds of its stores in tier II and smaller tier towns, with over half the expansion carried out in smaller tier towns.
Reliance Digital’s online shopping website and app has presence across 1,340 cities, fully integrated for omnichannel experience, it said. It also extended JioMart to consumer electronics to providing a one-stop shopping solution. Growth was led by performance in tier 2 and 3 towns.
Reliance Retail, according to the report, is expanding the new commerce footprint from 33 cities at present, with investments in supply chain and technology.
Jio Platforms is working towards setting up its own 5G network ecosystem. It has tied up with Qualcomm Technologies and Radisys Corporation, a subsidiary, to develop open and interoperable interface compliant architecture-based 5G solutions with a virtualised radio access network. This work is intended to fast-track development and rollout of indigenous 5G network infrastructure and services in India. Jio and Qualcomm tested 5G solutions in India, achieving the 1-GBPS milestone on Jio 5G solution.
It’s also looking to increase efforts to move 2G customers to 4G. Since its launch in 2017, JioPhone has upgraded over 100 million users to the digital network.
Jio and Google have agreed to jointly develop an entry-level affordable smartphone. Jio recently opted for Chinese low-priced mobile to stem migration of its feature phone customers.
The unit has been slow in ramping up Jio Fiber, its broadband service, which had over 2.5 million homes connected to it until March 2021. Ambani is targeting to connect 500 million subscribers by 2023. It’s also targeting 500 million mobile customers and 50 million home and enterprise connections. Jio had 426 million mobile customers as on March.
Reliance reorganised its refining and petchem segment into oil to chemicals division during the year. The reorganisation will facilitate value creation through strategic partnerships and attract dedicated pool of investor capital, the company said.
O2C’s goal is to maximise crude to chemicals conversion and create a sustainable growth business, it said. “It will allow Reliance the opportunity to accelerate our own ambitious new energy and new materials business wedded to the vision of clean and green development.”