The massive Rs.25,000 crore retail business plan of Reliance Industries (Mukesh Ambani) is scheduled to take off on 3 November 2006 with the launch of pilot outlets in Hyderabad.

The first stores in the series "Reliance Fresh" and "Reliance Select" was unveiled on 29 October 2006 at Banjara Hills in Hyderabad. These stores will be operated on a pilot basis for a few months paving the way for more stores nationwide.

Background: In late June 2006, Reliance Industries announced its that it would invest Rs.25,000 crore over the next few years in its organized retail business initiative. A new company -- Reliance Retail Ltd -- has already been formed for the new initiative. RRL will be a 100 per cent subsidiary of Reliance Industries, except for a small holding resulting from employee stock options.

Reliance Industries will make equity investment of Rs.10,000 crore, over a period of time, in RRL. The retail business initiative will entail setting up of retail outlets across 1,500 India cities and towns. These outlets will sell food, groceries, apparel, footwear, lifestyle and home improvement products, electronic goods, farm equipment, etc. They will also offer services in energy, travel, health and entertainment.

The retail business aims to bring into a value chain, farmers, logistics operators, small shopkeepers and traders. The entire business will be integrated through supply chain logistics and information technology infrastructure.

The new business is targeted to generate one million jobs. The new initiative already has 2,000 professionals on the job.