Offline retail, FMCG brands, consumer goods companies, and retail industry updates.
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Looking for profitable business ideas in villages? Explore 51 low, medium, and high-investment rural business ideas across agriculture, manufacturing, retail, food processing, and services.
On 2 March, domestic FMCG producer Dabur India revealed that it has finalised a deal to purchase a share in RAS Beauty. Buying a small share in RAS Beauty, a direct-to-consumer premium skincare brand, will cost Dabur INR 60 crore as part of its newly launched Dabur Ventures
Kwality Wall’s India Limited made its stock market debut on 16 February 2026, listing on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), but the ice cream major began trading at a sharp discount compared to its reference price. On the NSE, the stock opened
The Indian startup ecosystem saw a mix of funding across cleantech, regtech, consumer brands, quick-service restaurants, and mobility manufacturing on 13 Feb 2026. IDfy led the day with a substantial ₹476 crore capital raise to expand its trust and compliance stack globally, while EverBrands secured $15 million to bolster
In a statement released on 13 February, Apple announced that its sixth store will be opening in Borivali, Mumbai. During the unveiling of the barricades for the forthcoming Apple store in India, the iPhone maker made the announcement. In April 2023, Apple debuted its first store in Mumbai and a
The new fast-moving consumer goods (FMCG) factory that Dabur India is building in Tindivanam, Tamil Nadu, was officially inaugurated on 12 February. Located in the Tamil Nadu town of Tindivanam, the Tindivanam plant will mark Dabur's entry into the southern Indian market. In a press release, the
Goodness Group Global Pty Ltd (GGG), an Australian health-focused beverage firm, was acquired by Reliance Consumer Products Limited (RCPL), the FMCG division of Reliance Industries, on 7 February. This acquisition further establishes RCPL as a major player in the international health beverage industry and ushers it into the Australian
PVR INOX wants to focus only on its core cinema business and is ready to exit the snack business. Here are the details…
A final deal has been reached for Marico to purchase PVR INOX's 93.27% share in Zea Maize Private Limited (ZMPL). The gourmet popcorn brand 4700BC is owned by ZMPL. The entire consideration of INR 226.8 crore has been finalised in an all-cash transaction. According to
The consumer products division of Reliance Industries is once again looking to enter a new market by purchasing a smaller brand. The business is well-known for acquiring lesser historical brands like Velvette shampoos and Campa Soft Drinks. It was recently separated off from Reliance Retail to become a direct
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If you’ve followed India’s retail and tech space even casually, you’ve probably heard one name making waves lately: Jeyandran Venugopal. And for good reason. Reliance Retail, a company that’s already reshaping how India shops, has handed its top job to a man who has quietly engineered
A Memorandum of Understanding (MoU) for the promotion of health and wellbeing was signed on Saturday by the domestic Patanjali group and the Russian government. In a statement, Baba Ramdev, a trustee of the Patanjali Yogpeeth, said that the objectives of this Memorandum of Understanding are research-related projects, health
According to The Economic Times, Reliance Consumer Products Ltd (RCPL), the fast-moving consumer goods (FMCG) division of Reliance Retail, is preparing to enter India's rapidly expanding pet food market with a competitive price plan. Distributors and business partners have been notified by the company that the prices
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This article has been contributed by Varun Kashyap, Co-founder & CEO of Zithara.AI A woman in Indore sends her grocery list to her neighbourhood kirana store on WhatsApp. Within minutes, she gets a confirmation, a personalised offer on her favourite cooking oil, and a few extra loyalty points
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This article has been contributed by Vaibhav Kaushik, Co-founder & CEO of Nawgati The Indian fuel retail market is approximately $160 billion, as per a recent Financial Express article, which makes us one of the largest and fastest-growing markets across the globe. Today, there are over 90,000
On 31 October, Hindustan Unilever disclosed that company has received a sizable tax notice totalling INR 1986 crore. The UK-based company's Indian division claimed that the Income Tax Department had questioned certain of its tax-related depreciation claims and contested the valuation of several related-party transactions.
In a pre-IPO (initial public offering) funding round, billionaire investor Radhakishan Damani, the creator of Avenue Supermarts (DMart), spent approximately INR 90 crore in eyewear retailer Lenskart Solutions, according to a report by ET. The investment is made in advance of Lenskart's IPO, which is anticipated to
To improve its coverage of deliveries that take less than 30 minutes throughout its vast network, Reliance Retail has opened more than 600 dark stores around India and intends to open more. After the quarterly results, Reliance Retail CFO Dinesh Taluja responded to an analyst question by stating that JioMart
French luxury department store Galeries Lafayette is making its India debut with a flagship store in Mumbai, in partnership with Aditya Birla Fashion and Retail Ltd (ABFRL). Set to open in early November, the store marks a major step in India’s luxury retail expansion, with Delhi next in line.
Meolaa, an end-to-end technology-powered FMCG company, today announced that it has secured $6 million in Pre-Series A funding to advance its digital-first growth strategy. The round was led by General Catalyst (GC), alongside participation from Claypond Capital (family investment office of Dr. Ranjan Pai), Colossa
* Hyderabad (82%), Bengaluru (79%), and Pune (79%) lead the top-city rankings, while Visakhapatnam (76%), Nagpur (71%), and Chandigarh (68%) dominate beyond metros. • Ahmedabad (60%), Kolkata (55%), Jamshedpur (54%), Madurai (52%), and Rajkot (48%) show comparatively lower levels of digital adoption, highlighting the diversity in payment behaviours across cities * Everyday
After the central government-led GST council decided to revamp the economy's current tax structure, the fast-moving consumer goods (FMCG) giant ITC Ltd announced on September 18, 2025, that it has decided to pass on the full benefit to its customers across the firm's portfolio.
India’s startup and business ecosystem on 16th September 2025 was abuzz with significant developments across healthtech, fintech, consumer electronics, and enterprise IT. From PharmEasy’s INR 1,700 crore debt raise to Nothing’s $200 million Series C, and Mukesh Ambani’s plans to take Reliance Retail public, the
According to various media reports, Mukesh Ambani, who announced that Reliance Industries' telecom division, Reliance Jio, would go public next year, is also working on listing Reliance Retail, which may be valued at around $200 billion. With the demerger of the fast-moving consumer goods (FMCG) division, Reliance Consumer
In an effort to lower the cost of everyday necessities for the average person, the Modi administration has redesigned the Goods and Services Tax (GST) system. The GST Council authorised a two-tier rate structure of 5 and 18%, which will go into effect on September 22 as part of
As the final tax slabs were revealed on September 4, consumption stocks, which had already surged since Prime Minister Narendra Modi announced a reduction in the goods and services tax (GST) in his Independence Day speech on August 15, continued to rise. The Nifty FMCG index has increased 4.4%
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Fast-moving consumer goods are products that sell quickly. It also comes at a relatively lower cost. They are being marketed in a lump-sum amount. So, we will cover the top FMCG companies in India that are working every day, all year round. Accounting for 50% of FMCG sales
Apple announced on 26 August that it will establish its fourth location in India next week, this time in Pune. The tech company that makes iPhones has significantly expanded its retail presence in India with the opening of the new Apple shop in Pune. According to the firm, the new
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The bold and brash multinational consumer goods corporation Unilever has left its mark on history. Unilever was founded in 1929 as a result of the union of a soap manufacturer and a margarine manufacturer. Since then, it has grown into an empire with a staggering 400 brands in its portfolio.
96% of large retailers in India have already developed AI capabilities and solutions, according to Honeywell’s Global Retailer Technology Survey Honeywell (Nasdaq: HON) released its Global Retailer Technology Survey, which found that India’s major retailers are fully invested in artificial intelligence (AI) and its potential to make operations
FMCG startup Mitra has raised INR 14 crore in a bridge round led by Bestvantage Investments, with participation from existing backers. Funds will expand production, launch a 3000-ton flour plant, and support millet-based and health product lines.
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Britannia Industries Limited is an Indian food firm formed in Kolkata in 1892 with a small investment of Rs. 295 and is now headquartered in Mumbai. The firm is most known for its many brands of biscuits, but it also sells a wide range of packaged foods, dairy products, and
On August 13, Swedish retailer IKEA India announced the opening of its first location in Delhi, at the Pacific Mall in Tagore Garden. With more than 2,000 products on display and about 800 available for immediate purchase, the 15,000-square-foot store brings the IKEA experience closer to
India | August 13, 2025: ZenZebra, a new-age retail startup transforming everyday physical spaces into curated shopping destinations, has raised an undisclosed amount in a pre-seed funding round led by Rukam Capital. With this backing, the company aims to scale across urban India by embedding shopping experiences into high-
All of Reliance Retail's investments in the now-defunct hyperlocal delivery business Dunzo have been formally wiped off. The conglomerate's 78,923 equity shares of Dunzo, which were internally valued at INR 1,645 Cr in FY24, were worth nothing during the fiscal year under review,
The acquisition of Kelvinator by Reliance Retail Ventures Limited (RRVL), a division of Reliance Industries, represents a calculated move into India's growing consumer durables market. Reliance Retail's unparalleled distribution power and Kelvinator's legacy are intended to be combined in this purchase. Known throughout the
From Cookd’s pre-Series A funding to Flipkart’s ESOP buyback and regulatory updates in transport, here’s your quick roundup of the most important funding deals and business highlights for 11 July 2025. Daily Indian Funding Digest - 11 July 2025 Company Amount Raised Lead Investor(s) Purpose Cookd
In a landmark move in its 92-year history, Hindustan Unilever Ltd. (HUL) has appointed Priya Nair as its next managing director. On July 31, 2025, Rohit Jawa will step down, and she will succeed him. The appointment of Nair will take effect on August 1, 2025. This action makes
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India is slowly coming under this curb of the corporate world where we are losing track of existing shops and ‘bazaars’ or ‘mandis’. In these hustle-bustle days of ours, we all aspire to get our daily needs under one roof. At present, only a supermarket won’t suffice as
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"Leadership is not about being in charge. It’s about taking care of those in your charge." — Simon Sinek. Arun Srinivas’s journey reflects this idea perfectly. From his early days working in sales roles at Reebok to becoming the face of Meta in India, he has built
According to a media report, the Centre is seeking an explanation from Patanjali Ayurved Ltd on a number of financial transactions that federal economic intelligence services have identified as suspicious. The company has received a notification from the Ministry of Corporate Affairs, which is also looking into possible fund diversion
Mother Dairy will up the price of its milk variants by as much as INR 2 per litre, effective April 30, 2025. The price hike will hit consumers in Delhi-NCR, Uttar Pradesh, Haryana, and Uttarakhand, the six states where the company has its largest markets. A company statement characterized
During the earnings call earlier this week, Reliance Retail's CFO Dinesh Taluja stated that the company saw a tremendous scale-up in the March quarter, with orders growing by more than 2.4 times.
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In a world where business dynasties often play it safe, Harsh Goenka stands apart, a maverick industrialist, art connoisseur, and now, a viral social media sage. As chairman of RPG Enterprises, a USD 4.8 billion (approximately Rs 40,000 crore) conglomerate spanning IT, infrastructure, and FMCG, Goenka has long
A recent Lakme campaign called "SPF Lie Detector Test" unfairly criticises rival goods, including one that closely resembles a sunscreen from The Derma Co, another Honasa brand, according to a case filed before the Delhi High Court by Honasa.
The Indian equity market on Wednesday continued its winning streak, for the third day in a row, propelled by a rally in the BFSI and FMCG sectors. The BSE Sensex surged 309.40 points to close at 77,044.29, while the Nifty increased with more ease, tacking on 108.
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Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. Who doesn't love to buy good products at affordable rates? Undoubtedly, we all love discounts! What if there was only a single store in the city or town providing discounts? It would
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Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. Britannia Industries is one of India’s leading food companies, with a 100-year legacy and annual revenues in excess of INR 16,000 crore. Britannia’s product portfolio includes Biscuits, Bread, Cakes, Rusks,
Apna Mart, an omnichannel grocery and FMCG retail chain has secured INR 214.5 crore (around $25 million) in a new funding round. The investment includes a mix of equity and debt, with Fundamentum Partnership Fund and Accel leading the round. Existing investors also participated. According to regulatory filings, the
Yummy Bee, India’s leading café chain focused on guilt-free indulgence, has successfully raised INR 18 crore in total funding, including INR 11 crore in its most recent round. This capital injection will primarily support the brand’s expansion into Mumbai and Bengaluru as well as establish their base
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Procter & Gamble Co. (P&G) is an American multinational consumer goods company headquartered in Cincinnati, Ohio. With a history dating back to 1837, P&G has become the world’s largest consumer packaged goods company, boasting an impressive $84 billion in sales and over $10 billion in
Britannia Industries, a prominent biscuit manufacturer, announced on 6 March that Rajneet Singh Kohli, its executive director and chief executive officer, left on March 5 in order to explore an outside opportunity. The stock exchange statement states that March 14 is Kohli's last day with the company. In
Mukesh Ambani and his daughter Isha Ambani are reportedly considering job and cost reductions as sales of Reliance Retail declines sharply. This includes reducing marketing expenditures, postponing the opening of new stores, combining Reliance Brands Ltd. with the bigger retail company, and reevaluating international brand alliances. Additionally, higher-paying staff
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DMart is the largest supermarket chain in India offering quality products at a cheaper price. The company maintains the highest level of customer base and is perceived as one of the fastest-growing chains in the retail business. Therefore, this achievement cannot solely be accredited to a well-organized supply
On January 22, Hindustan Unilever (HUL) declared that it had finalised a deal to purchase 90.5% of the high-end actives-led beauty brand Minimalist through secondary buyouts at a pre-money enterprise value of INR 2,955 crore, subject to primary infusion and adjustments based on transaction documents.
The awarding of 45,663 stock options under the employee stock option plan (ESOP) has been approved by Honasa Consumer Ltd., the company that owns modern FMCG brands like Mamaearth and The Derma Co. According to its BSE filing, the company's nominating and compensation committee has authorised "
According to many news sources, Reliance Retail, the biggest shareholder in the struggling hyperlocal firm Dunzo, has wiped off its $200 million investment in the business. Following the company's liquidity crunch and withdrawal from rapid commerce during the last 24 months, Reliance is also not engaged in any
In order to help physical businesses contend with the influx of rapid commerce platforms, the Federation of Retailer Association of India (FRAI) has called on the government to develop an "enhanced technology platform." According to a news agency report, the merchants' body stated that such assistance would
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Radhakishan Damani is an Indian businessman who is known for establishing DMart. He founded DMart in May 2002 and is owned and operated by Avenue Supermarts Limited (ASL). He is an active Investor and manages his portfolio through his investment firm, Bright Star Limited. He is also a retailer and
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Dabur is one of India's most reputable and well-known household brands; therefore, it doesn't need an introduction. The 140-year-old Ayurvedic firm Dabur began as an Ayurvedic medication manufacturer in 1884. Since its modest beginnings in Kolkata's backstreets, Dabur India Ltd. has
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If you have ever had a burger at KFC or pizza at Domino's, then you have savored the tasty sauces that Veeba has created. But how many of us know about this Indie brand? Well, Veeba is the brainchild of Viraj Bahl, an innovative young entrepreneur with a
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Doug McMillon, President and Chief Executive Officer of Walmart, Inc., joined the firm as a regular associate in 1984. He started at the warehouses by picking orders along with unloading trailers. He climbed up the ranks to begin his tenure as CEO in 2014. He was instrumental in transforming the
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In this insightful interview with StartupTalky, Salloni Ghodawat, Director of Ghodawat Consumer Ltd. (GCL), discusses the company’s mission to enhance lives through affordable, high-quality essentials while promoting consumer health and nutrition. Ghodawat shares GCL’s commitment to food safety, advanced manufacturing practices, and innovative product lines like the
Representatives from the Solvent Extraction Association of India (SEAI), the Indian Vegetable Oil Producers' Association (IVPA), and the Soyabean Oil Producers Association (SOPA) were present in a meeting that was chaired by the Secretary of the Department of Food and Public Distribution (DFPD) of the Government of India on
The majority of Reliance Retail's fast-moving consumer goods (FMCG) brands, such as Campa and several well-known private labels, are going to be transferred to the newly founded FMCG division of Reliance Consumer Products Ltd (RCPL), which is scheduled to take over their operations. The purpose of
Isha Ambani, the Director of Reliance Retail Ventures Limited (RRVL), has disclosed that the organization intends to enter the luxury jewelry sector. Isha announced that the company is looking at expanding into the fashion jewelry and accessories segment as well as the luxury jewelry segment with a curated, design-led
After a year of reportedly forging a strategic partnership, Reliance Retail Ventures is planning to launch the Chinese fast-fashion brand Shein in India in the coming weeks. Reliance Retail reportedly owns and operates physical stores as well as an app where users may purchase products of Shein. India banned
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In this exclusive interview, StartupTalky connected with Ms. Kamakshi Mantri, Chief Strategy Officer at Mantri Developers Pvt. Ltd. With her expertise in retail, commercial, and hospitality sectors, she shares insights into their innovative approaches to boosting retail business at Mantri Square Mall. She also discusses their use of AI for
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The analysis by the global market research firm EY states that consumer goods companies have enormous opportunities to use AI to improve asset tracking, supply chain management, and consumer experience and engagement. The use of artificial intelligence (AI) technologies to improve customer centricity and operational efficiency is on the rise
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Reliance Retail Ventures Ltd (RRVL), under the leadership of Mukesh Ambani, is gearing up for a monumental Rs 8.38 lakh crore IPO scheduled for 2025. As this colossal IPO looms on the horizon, the remarkable journey and strategic maneuvers of Reliance Retail have become a focal point for investors
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Mamaearth is a company known for delivering absolutely non-toxic products in the competitive global market of FMCG companies. It was started by a husband-wife duo- Varun Alagh and Ghazal Alagh, in late 2016. Nowadays, India is thriving with startups, among which several are gaining status in the Unicorns
Mumbai (Maharashtra) [India], August 1: Aura Hearing Care Pvt. Ltd., a leading hearing aid retail chain in India, has successfully raised funding from three prominent private investors, signaling a significant milestone in its growth trajectory as one of the fastest-growing companies in the sector. Founded by Naitik Shah, Aura
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Both are multinational consumer goods companies. Both operate in the FMCG (Fast Moving Consumer Goods) industry. Both companies have a strong legacy and a long history and enjoy a great reputation in the market. Both their product repertoire includes household and personal care items, food and beverage products, and beauty
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Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by H-E-B Grocery Company. The retail industry in the world is booming. The need to find all grocery purchases in one place has led
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Patanjali is one of the few brands that make up the very backbone of the Indian consumerist identity. With a bevy of marketing tactics to push its plethora of products, the company has become one of the icons of the Indian economy. The privately-owned Indian FMCG Patanjali has a
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Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Dabur. Are you aware that FMCG is India's fourth-largest sector? FMCG's full form is Fast-Moving Consumer Goods that consist
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A retail establishment that offers a wide range of consumer goods in different areas of a store with each area specializing in a product category, is called a department store. Department stores made a dramatic entry in major modern cities in the middle of the 19th century. Their entry marked
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For ages, Indians have been buying meat and other non-vegetarian products from the nearby market. But the new generation wants a better and more convenient shopping experience when buying non-veg items. With the e-commerce revolution, the way people shop for non-veg food products is also changing.
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The Indian market has always been an attractive lure for international business houses. Its deep history with the luxury and lifestyle goods industry is showcased in history through the Maharajas of yesteryears who were the ultimate consumers of luxury consumer goods. Be it fashion, accessories, beauty, health or automotive, various
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Patanjali = Baba Ramdev + Ayurveda + Organic + Healthy + Desi + People's Trust + Quality Product. The combination of all makes Patanjali a dynamic business model in a country like India. Speaking of this, the way Patanjali manifested itself in the Indian market reflects its brilliant marketing strategy and brand positioning. Though Patanjali
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Hindustan Unilever Limited (HUL) is a British-Dutch assembling organization headquartered in Mumbai, India. The items of Hindustan Unilever Ltd incorporate nourishments, drinks, cleaning specialists, individual consideration items, water purifiers, and purchaser merchandise. HUL was set up in 1933 as Lever Brothers and following the merger of its constituent gatherings
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Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Ruchi Soya. In terms of edible oil imports, on the record India is now the world's largest. Some of the primary causes boosting
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The Fast-moving-consumer-goods (FMCG) is quite an established market. These industries have always proven themselves worthy of the consumers' purchasing and reliable choice. When looking a little back in time, FMCG was considered wrong for entering the business industries. However, with time, many young businessmen or entrepreneurs
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> This article is contributed by Sumit Suneja, Managing Partner of Merlin Brands, an urban consumer goods company that owns the leading brands - Rabitat and Headway. The Covid-19 pandemic has completely disrupted our lives in so many ways. It has changed the way we communicate with each other, work,
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In India, ayurvedic goods have dominated the whole medical and cosmetic sector. Patanjali's development in the field of ayurvedic medications and goods is well-known throughout India. With a net income of Rs. 590 crores ($80 million), Patanjali has been recognised as India's fastest-growing FMGC
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In the course of the ongoing pandemic, many businesses faced a downfall in their progress of making a profit. Likewise, small textile brands encountered a behindhand in making a life out of the pandemic market. While the small textile brands are highly populated by poor people, in order to make
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It is almost impossible to not hear about Britannia while living in India. This household name has conquered the country with its spectacular food products, which have been tasted by almost everyone. From starting a ‘Good Day’ by being the partner of a cup of tea to patch up the
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Want to know all about the business model of Big Bazaar? If you are nodding in the yes, then you are definitely at the right place. Here in this blog, we will explain all about the business models of Big Bazaar. We all love to go shopping; it is an
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There have long been disagreements within the industry regarding the perishability of fast-moving consumer products and their short life cycles. Even under the best-case scenario, when customers could be serviced quickly, and goods were made on time, balancing complex logistics with consumer demands was challenging. As a result,
![D'Mart: Most Successful Indian Chain of Hypermarkets[DMart Case Study]](https://static.startuptalky.com/2021/07/DMart-Case-Study---Startuptalky.jpg)
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D'Mart is an Indian chain of hypermarkets established by DMart owner Radhakishan Damani on May 15, 2002. DMart has 214 stores in 72 cities across 11 states in India including Maharashtra, Andhra Pradesh, Telangana, Gujarat, Madhya Pradesh, Chhattisgarh, Rajasthan, National Capital Region, Tamil Nadu, Karnataka, Uttar Pradesh, Daman,
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In an era where everybody seems to become a successful entrepreneur, it is the aptness of a business model that makes all the difference. The company should be able to realise the nature of their target customer to make the best out of the situation. Today the retail business is
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When it's Ayurvedics products, no one can beat Patanjali. The widely famous Indian consumer goods brand, Patanjali is known to be very promising to the Indians. Patanjali was founded by Baba Ramdev, who is considered the yoga icon, along with Acharya Balkrishna. Patanjali provides the manufacturing, distributing, and
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The Patanjali Ayurvedic Group and The Baidyanath Group, both of these are the leading names in the field of medicine and health care, especially in India. While, both the companies have been immensely successful in this field, there is a huge confusion among the customers of these companies, that is,
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Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Marico. The consumer goods market is a group of stocks and companies that deal with goods purchased by individuals and households rather than by businesses
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Balkrishna is positioned as the Doctor of Medicine (MD) and Chief Executive Officer (CEO) of the consumer goods company Patanjali Ayurved. He is an Indian Businessman and generally goes by the name Acharya Balkrishna. He basically works for producing multiform swadeshi and ayurvedic goods. According to the Forbes report, he
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Footfall counting or counting the number of customers visiting the store is crucial for retail stores. From performance of a promotional strategy, to staff efficiency and calculating sales conversion rate, many insights can be gained from the footfall data, and this is the reason why retail shops has been doing
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India is the second largest cement producer in the world. India has a capacity to produce cement of around 151.2 million tones per annum. In the below article you can find the top cement companies in India. Ambuja Cement Ultratech Cement Shree Cement ACC Cement Birla Cement Dalmia Cement
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Being one of the top FMCG companies in India, Dabur has a wide range of products in the market-leading in personal, health care, and food and beverages. Dabur has touched many lives in India and is considered to be an integral part of Indian families as it has a
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Kishore Biyani, once celebrated as a retail king has surrendered by selling his retail business of the Future Group to billionaire Mukesh Ambani’s Reliance Retail. Mukesh Ambani's Reliance Industries Ltd has acquired Kishore Biyani's Future Group for ₹24,713 crores / $3.38 billion. Reliance Retail