What: Reliance Retail Ventures is in advanced negotiations with global investors to raise approximately USD 2.5 billion.

Why it is important: The investment will boost India's appeal for foreign investors amidst uncertainties in China.

This funding is expected to be finalized by the end of September and is part of Reliance Retail's overall target of raising USD 3.5 billion. USD 1 billion of the target from Qatar Investment Authority (QIA) and was announced last month.

The company has been strengthening its omnichannel capabilities and leveraging its vast network of physical stores and digital platforms. With Reliance Retail's strong market presence and the influx of investment, India's retail sector is expected to witness further innovation, job creation, and technology-driven advancements.

Reliance Retail has also been actively expanding its consumer business by acquiring smaller grocery and non-food brands. This strategic expansion has contributed to the company's impressive financial performance. In the financial year ending March 2023, Reliance Retail reported a consolidated net profit of INR 91.81 billion (USD1.11 billion).

Indian Billionaire Ambani’s Reliance Retail in Talks to Raise USD 2.5 Billion