History of Reliance Group

Reliance Company history shows you how small beginnings can lead to great success through patience and perseverance. Reliance Group began its journey in 1958 as a small textile company and has grown into one of the largest conglomerate companies in the world. Founded by Dhirubhai Ambani, it is now led by Mukesh Ambani, who is one of the richest persons in the world. Let us dive deep into understanding the reliance company history, reliance company owner, reliance company net-worth, and more in detail. Keep reading!
 

All you need to know about Reliance Group

Currently, Reliance Industries operates in more than 100 countries and is one of the largest companies in India. Let’s learn a few of the details about Reliance Group:

Timeline: History of Reliance Group

Below is the timeline of Reliance company history

1958: Dhirubhai Ambani began the journey of Reliance Group as a small textile trading business in Mumbai with just ₹15,000. He exported spices and other commodities to Yemen.

1966:

• On Feb 11^th, Dhirubhai established Reliance Textiles Industries Pvt Ltd., focused on importing polyester yarn and exporting spices.
• On July 1^st, Reliance was amalgamated with Mynylon Ltd.

1973: Reliance entered the textiles and polyester filament yarn business.

1975: Reliance became a public limited company.

1977: Changed its name from Mynylon Ltd. to Reliance Textile Industries Ltd. It offered its first IPO to the Indian public.

1985: Reliance Group crossed total assets worth ₹1000 crores. It started a polyester staple fibre plant.

1986: The company started a PTA plant at Patalganga. It also started the Polyester Staple Fibre plant.

1988: Reliance Group crossed sales worth ₹1000 crores.

1991: The company entered the polymers business and began VCM and PVC plants.

1993: Reliance Petroleum Limited was incorporated.

1996: Reliance crossed net profit of ₹1000 crores. It became the first private sector company to be rated by international credit rating agencies.

1997: It became the first business in Asia to issue 50- and 100-year bonds in the US debt market. It introduced packaged LPG in India.

2000: Reliance Power Ventures started, a fully-owned subsidiary of Reliance Industries.

2002: Dhirubhai Ambani passed away.

2005: Mukesh Ambani got control of Reliance Industries after the company split.

2007: Reliance marked its global expansion by acquiring a stake in various companies aboard.

2009: In Jamnagar, Gujarat, Reliance established the world’s largest petroleum refinery.

2010: Reliance entered into a partnership with Atlas Energy in the United States to pioneer natural resources and Carrizo Oil & Gas.

2013: For FY 2012-13, Reliance reached $68.4 billion in revenue, with a net worth of ₹176,766 crores. The company contributed 14% of India’s total exports for FY 2012–13.

2016: Offering affordable data plans, the journey of Reliance Jio began, which revolutionized India’s telecom sector.

2017: Reliance Industries was awarded the prestigious ‘Dupont Operational Excellence Award.’ Globally, it became the second-largest producer of Para-xylene (PX).

2018: Reliance Jio was awarded as the most innovative company in India.

2019: Ahead of its March 2021 target, Reliance became debt-free.

2020: Selling its stake in Jio Platform to global tech giants like Google and Facebook, Reliance raised over $20 billion.

2021: To become a net carbon-zero company by 2035, Reliance announced its plan to invest in renewable energy.
 

List of Subsidiaries of Reliance Group

Below is the list of subsidiaries of Reliance Group

 Impact and Contributions of Reliance Group

Since the inception of Reliance Group, it has heavily contributed to the growth of the Indian economy. Here are a few of the important impacts and contributions of Reliance Group:

• Boosting the economy: Reliance Industries Limited (RIL) is one of the largest integrated energy companies in the world. RIL has a refining capacity of 1.24 million barrels of crude oil per day and a petrochemical production capacity of 27 million tonnes per year.
• Telecom transformation: By offering affordable internet services to over 426 million subscribers, Reliance Jio Infocomm Limited (Jio) has successfully transformed India’s digital infrastructure.
• A range of services: Offering a range of products and services, RIL’s retail business operates over 12,000 stores across India.
• Employment Creation: Currently, more than 200,000 employees are working across various businesses with RIL.
• Research and Development: RIL has invested ₹6,137 crore in R&D, which represented 1.1% of its consolidated revenue.