(LiveMint)
Reliance Industries (RIL) is focusing on new business-to-customer initiatives to hedge against volatility and strengthen its petrochemicals business. Under this strategy, RIL will offer end-to-end tailor-made solutions to industries to manufacture windmills, design complete railway compartments in three years, build underground tanks with a shelf life of 25 years against the present 7-8 years, replace wood with composite material in home decor, make fire redundant fabric for curtains and design poles with composites for the telecom sector, among others.
In an analysts presentation to discuss March quarter results, RIL said it is adopting a strategic shift towards the consumer and diversifying into the production of chemicals using three major philosophies– investing in new-age technology and raw materials, moving from selling products to selling complete solutions and adopting digital technology.
