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Our Bureau

Mumbai, Oct. 12 “Reliance will not attach its name with ‘non-veg’,” said Chairman of Reliance Industries, Mr Mukesh Ambani, at the company’s AGM here on Friday.

A rather unusual matter was brought up at the AGM by a shareholder. If Reliance had large retail plans, then would the company be also selling meats, poultry and fish, a staple at comprehensive super markets?

This would be abhorrent to a large section of the (Gujarati family promoted) company’s vegetarian shareholders who came from the Gujarat-Rajasthan belt in the country, said this shareholder.

“Please give that to a subsidiary or carve that business off into another company,” he suggested.

In fact, said this shareholder to the gathering (to grunts of general agreement), he knew of someone who had actually sold his shares in the company when he heard of the news that Reliance might sell “non-veg” at its retail stores.

But, while the name ‘Reliance’ will not be associated with non-veg, Mr Ambani added that the company’s retail operations would still “do that business,” either through a subsidiary or by some other means. “There is an integrated India,” he reminded his audience, implying that there are different cultures in the country and that business should cater to all.

More Stories on : Announcements | Retailing | Reliance Industries Ltd

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