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This article was first published 17 years ago  » Business » AV Birla Group plans retail foray

AV Birla Group plans retail foray

Source: PTI
August 23, 2006 19:33 IST
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On the heels of Reliance Industries foraying into the lucrative retail business, Birla Group too contemplates rolling out its organised retail initiative.

An Aditya Birla Group spokesperson said the group had plans, but it was too early to speak about specifics, when asked about the initial investment that is being pegged by the industry at $1 billion (nearly Rs 46 billion).

"Not only retail, but the group also has plans to enter other new business areas in the future, as well...," the spokesperson told PTI in Mumbai.

Kumar Manglam Birla-led Aditya Birla Group is among India's largest business houses with interests in cement, textile, telecom and finance, besides having a global presence.

In June, Reliance unveiled a Rs 25,000 crore (Rs 250 billion) investment blueprint for entering the organised retailing sector through Reliance Retail Ltd.

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