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Reliance Industries Limited Sets Up Innovation Leadership Centre

Mumbai, Shri Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited (RIL) today inaugurated the Reliance Innovation Leadership Centre (RIL-C) in Pune. The centre will drive the company's Innovation agenda. The Innovation agenda aims to propel RIL at the forefront of global business leadership by implementing Innovation strategies in operations as well as in Research and Technology domains.

The RIL -C will be guided by Reliance Innovation Council chaired by Dr. R. A. Mashelkar, a global science icon and a member of the RIL Board. The council will have some of world's leading thinkers in the field of science, technology and innovation practioners as its members. The Council will shape and guide the various Innovation initiatives of the Company.

Reliance also plans to set up a Corporate Research and Technology Centre (CRTC). The CRTC with floor space of more than half million square feet in the central district of Navi Mumbai will act as a hub for the research centers already operating at various manufacturing locations. Reliance intends to create world class physical and intellectual infrastructure in CRTC, with some of the best scientists bolstering its innovation agenda. Reliance has already entered into path breaking tie-ups, collaborations & research agreements with world renowned institutes and universities to derive the full benefit from open innovation networks.

Reliance Industries Limited

Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with turnover of Rs1,18,354 crore (US$ 27.23 billion), cash profit of Rs17,678 crore (US$ 4.07 billion), net profit of Rs11,943 crore (US$ 2.75 billion) and net worth of Rs63, 967 crore (US$ 14.72 billion).

RIL is the first and only private sector company from India to feature in the Fortune Global 500 list of ‘World’s Largest Corporations’ since 2004 and ranks amongst the world’s Top 200 companies in terms of profits. RIL has been amongst the list of 25 fastest climbers ranked by Fortune. RIL emerged in the world’s 10 most respected energy/chemicals companies and amongst the top 50 companies that create the most value for their shareholders in a global survey and research conducted by PricewaterhouseCoopers and Financial Times in 2004. RIL also features in the Forbes Global list of world’s 400 best big companies and in FT Global 500 list of world’s largest companies.

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