Reliance Retail will launch an FMCG (Fast Moving Consumer Goods) business this year, announced the company’s Director Isha Ambani.

She made this announcement on Monday while addressing the shareholders at Reliance Industries’ virtual Annual General Meeting. “The objective of this FMCG business is to develop and deliver products that solve every Indian daily needs with high-quality products at an affordable pricing,” Isha Ambani said.

“As part of our commitment to India’s rich culture and heritage, we will soon start marketing quality goods produced by tribals and other marginalised communities across India,” she added.

Reliance Retail has achieved a record of Rs 2 lakh crore turnover and an EBITDA (Earnings before interest, taxes, depreciation and amortization) of Rs 12,000 crore and is among the Top-10 retailers in Asia.

Reliance Retail has opened over 2,500 stores this year to take its store count to over 15,000, spanning an operational area of 42 million sqft.

“During the year, we strengthened our own brands’ presence by launching several new products across categories of Staples, Home, Personal Care and General Merchandise. Further, we launched our WhatsApp-JioMart partnership,” said Isha.