Reliance Industries (RIL) has never stayed still for too long. Over the past five decades, the company has repeatedly morphed itself, moving from textiles to petrochemicals, from refining to telecom and retail. Each transition has reshaped not just Reliance's business model but often entire industries.
The biggest and boldest reinvention, call it Reliance 2.0, began roughly a decade ago when Chairman Mukesh Ambani launched Jio and expanded Reliance Retail at an unprecedented scale. That transformation altered the group's earnings profile and reduced its dependence on the cyclical oil-to-chemicals business. Today, consumer businesses contribute nearly half of Reliance's EBITDA.
