RIL invests USD 3.76 billion in warehousing capabilities

Reliance Industries Limited (RIL) has invested Rs 30,000 crore (around USD 3.76 billion) in its retail business and added 2,500 stores, taking the total store count to 15,196 in FY22. Besides, Reliance Retail added 11.1 million square feet of warehousing space during the year, nearly doubling the warehousing space to 22.7 million square feet, Reliance Industries Ltd (RIL) said in the annual report for FY22. “Reliance Retail has built capabilities through organic growth, acquisitions, and strategic partnerships with investments near Rs 30,000 crore in FY 2021-22. Reliance Retail added over 2,500 new stores and 11.1 million sq ft of warehousing space during the year,” said official statement from RIL. In FY22, on an average, Reliance Retail added seven stores per day.