News: 'Reliance retail chain to feed rising aspirations'

(BS 05/06/2006) Mumbai - Reliance Industries chairman Mukesh Ambani said his company is planning a pan-India, multi-format retail operation. All these outlets will be connected seamlessly thorugh a state-of-the-art supply chain infrastructure, he promised. In a letter to shareholders, Ambani said this initiative had been "assidiously planned to connect the Indian farmer and producer with the consumer directly." A revolution of rising aspiration is sweeping all parts of India coupled with rapid expansion and consumption at all levels in our society, he said.

Mukesh Ambani also said Reliance's exploration programme was going on full throttle and the signs were very encouraging. "We believe that we will emerge as a significant producer of energy, both of oil and natural gas. This will enable us to enhance India's status as an energy source in the world and without doubt, give a new dimension to our growth story," he said.

Mukesh Ambani also said Reliance has the capacity and the ability to emerge as a significant player on the global energy scene. "To that effect we are also pursuing global opportunities in exploration and production. We will share our progress in this area with you in the days to come," he said.