Billionaire Mukesh Ambani Preps India’s Alibaba With ₹ 1.73-Lakh-Crore Holding Company. Mukesh Ambani moved a step closer to creating an e-commerce giant for India, unveiling plans to set up a $24 billion digital-services holding company that would become the main vehicle in his ambition to dominate the country’s internet shopping space. The board of Reliance Industries approved a proposal to plow ₹1.08 trillion into the fully owned subsidiary.
“Given the reach and scale of our digital ecosystem, we have received strong interest from potential strategic partners,” Ambani said in a statement. “We will induct the right partners in our platform company, creating and unlocking meaningful value for RIL shareholders.”