Reliance Industries Ltd.

Alibaba Group Holding is reportedly in preliminary discussion with Reliance Retail, a subsidiary of Reliance Industries (RIL), to form a retail joint venture (JV) in India, with an investment of $5 billion. The Group has proposed to acquire huge stake in Reliance Retail to create a behemoth in the digital market and also to expand Alibaba’s physical retail businesses in India.

RIL is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.