RCPL to become direct subsidiary of Reliance Industries, says Isha Ambani at AGM 2025

RIL AGM 2025: Isha Ambani, Executive Director of Reliance Retail Ventures Limited (RRVL), announced at the Reliance Industries Limited (RIL) Annual General Meeting that Reliance Consumer Products Limited (RCPL) is set to become a direct subsidiary of RIL. The move, she said, will consolidate all of the group’s consumer brands under one sharply focused company, enabling greater scale, sharper strategy, and long-term value creation.

“Our Consumer Products business, RCPL, is set to become a direct subsidiary of RIL. This will consolidate all our consumer brands into a single, sharply focused company,” Isha Ambani said while addressing shareholders at the AGM.

Why the move matters

Explaining the benefits of the restructuring, Isha Ambani highlighted the massive opportunities in India’s consumer market. She pointed out that India today represents a $2 trillion high-growth market, expanding at over 8% annually. To capture this opportunity, she said, Reliance needs a consolidated and strategic approach.

She further detailed the consumer landscape driving growth:

India’s 350 million middle-class households now command purchasing power of more than ₹100 lakh crore ($1.2 trillion). This base of 600 million digitally native, brand-conscious consumers is demanding premium experiences at affordable prices.

For the first time in India’s history, rural markets—home to 900 million consumers—are driving 65% of FMCG growth. Rural penetration of branded products is expanding rapidly at 35% annually, outpacing urban markets.

“This combination of a rising middle class and accelerating rural adoption marks an unmissable consumption opportunity,” Isha Ambani said.

She added that RCPL is not merely a participant in this transformation but is actively shaping it. By becoming a manufacturing company, RCPL is positioned to deliver “global-quality products at Indian prices,” ensuring affordability while competing with international standards.

Reliance Retail’s growth enablers

Turning to the broader retail business, Isha Ambani underlined Reliance Retail’s confidence in achieving over 20% compound annual growth rate (CAGR). She attributed this confidence to eight growth enablers, each of which has already demonstrated measurable performance.

Unmatched consumer insights: Reliance Retail draws on scientific data mining from billions of real transactions, giving it unparalleled understanding of Indian consumers.

Powerful product development engine: The company has launched strong own brands such as Independence in grocery, Avaasa in fashion, and Kelvinator in electronics.

Superior sourcing ecosystem: This has become a key strategic advantage for maintaining quality and scale.

Omni-channel architecture: Reliance Retail has integrated digital and physical platforms to maximize customer delight.

Expansive market reach: Nearly 20,000 stores are supported by India’s largest tech-enabled supply chain.

Empowering merchants: Through B2B formats such as Metro and JioMart Digital, the company supports 42 lakh merchants—including kiranas, traders, and HoReCa businesses—by providing products, technology, and financing.

Tech-led capabilities: From AI-driven demand forecasting to robotics-enabled warehouses, Reliance is deploying technology to scale efficiently while ensuring profitability even during aggressive expansion.

Its people: A workforce of 2.5 lakh employees forms the backbone of Reliance Retail. “They are trained, empowered, motivated, and mandated to deliver,” Isha Ambani said.